Financial Fridays – Debit card safety
Back on May 13th we wrote a Financial Friday’s blog about PIN safety. Keeping your banking code and all your finances secure.
This week CTV News reported on a woman who lost her debit card, but never got around to telling her bank. Full story here.
College student Frances Ward said her bank card went missing last fall and she never noticed the activity because she mostly uses her phone to do mobile payments.
Over a week in September 2021, a series of fake cheques were cashed totaling about $13,000, which with interest, the bank said, left them owing more than $14,000.CTV news story
The lesson here – always report your card lost or stolen. Even if you’re 99% sure it’s just in the car, slipped between the seats. That’s happened to me numerous times. I even dropped my phone on the street one day and it was immediately turned into the Owen Sound police by a Sun Times carrier.
But I still had all my cards changed.
Imagine if all the numbers had been written down BEFORE turning it into the police. I would have assumed all was well and carried on. But could have been the victim of fraud or theft.
We pay enough in banking fees, ask for a new card, have a flag on your account for weird purchases.
It’s annoying and a lot of time out of your day. But it will save you in the long run.