Holiday Security Tips: On the fourth day of Christmas, the experts gave to me, 4 pay solutions!
True or False?
When you use a debit card, funds are more secure because they are drawn directly from your bank.
False. While it’s true that funds are drawn directly from your bank, it actually makes it harder to get the money reimbursed while the issue is being resolved if fraud does occur.
You can receive a reimbursement for debit card fraud up to a year later.
False. Debit cards generally only reimburse fraudulent purchases if you catch them within 60 days.
It is safer to use a credit card than a debit card.
True. When you use a credit card, nothing is withdrawn from your bank account immediately. Pending transactions can take several days to clear. In addition, credit cards uniformly give you more protection than debit cards and your maximum liability is capped at $50.
Check washing is so simple, you must learn to prevent check fraud
Are check fraud and check washing still relevant in the age of digital payments? If you’re like the average person, chances are you don’t write too many checks anymore. With the convenience of online payment options, nearly universal acceptance of credit and debit cards, and the proliferation of ATMs offering you easy access to money at every turn, why resort to the archaic, labor-intensive method of writing a check?
The simple answer—sometimes we have no other choice! Some places still don’t accept credit cards (Costco if you don’t have an American Express), or they charge an extra fee for them. Some retailers don’t offer online payment options. And frankly, sometimes it’s just an old habit and we haven’t made the effort to find a safer option because we’re stuck in the mindset of “it’s never happened to me” when thinking about check fraud.