by Laura Woods 
This weekend, as I was standing in my kitchen, fulfilling an overwhelming craving to make chocolate chip cookies using the recipe from Joanna Gaines’s indulgent cookbook (a strong case for not keeping the ingredients for cookies in the house at all times), I heard my phone ping. I quickly opened my phone and noticed I had received a new email with a debit card alert.
My Debit Card Story
Now this isn’t abnormal, as I have it set up so that I receive an email alert within seconds of using my card for transactions over $25. However, this alert was slightly abnormal as I hadn’t used my card all day. And for the very reason I set up this alert, I now suspected I was the victim of a fraud crime. Indeed, the email notified me that someone had spent $50 at a Kroger grocery store. As there are no Kroger grocery stores in the area, I immediately opened my mobile banking app and searched for any other suspicious transactions. I clicked on the $50 Kroger transaction and noticed in the description, the transaction had occurred in Michigan.
That’s all the proof I needed to use the “Manage Cards” function in the Alltru app to immediately turn my debit card off in case the thief was attempting another immediate transaction.
Secondly, I pulled out my debit card (which was still in my purse and meant that someone had stolen my debit card information and created their own debit card) and called the “lost or stolen” hotline number on the back. I was so grateful that even at 3 p.m. on a Sunday, I was able to reach someone to report fraud on my account. Sierra, my friendly representative, assisted me by turning the card completely off and told me to visit the credit union at my earliest convenience to pick up my new card and complete the form for the fraud activity on my account.
I had to re-set all of my automatic bill payments to the new card number. Annoying, yes, but a small price to pay. I might have lost hundreds of dollars through ongoing fraud had I not had debit alerts set up and a mobile banking app that lets me manage the security of my cards immediately. Oh, and the fact that I bank with a credit union that was able to respond so quickly with 24/7 card support.
For me, I still had my physical card, but the scammer had access to my card number. In other cases, scammers are able to sneakily take your card. By the time you notice it’s gone, the thief has made numerous transactions with your money. Recently in LA, scammers unsuspectingly approached a man letting him know that he dropped a $20 bill. In reality, the scammers were just getting close enough to steal his debit card.
Your Debit Card Story
All that to say to you, reader, I consider myself to be very secure when it comes to my finances. Apparently, I still slipped up somewhere, somehow. Here are some things to learn from my experience.
- Debit alerts are free and can easily be set. Visit our Learning Center to set up your debit card for alerts. Then customize your notifications so you can decide when you’ll be alerted about a transaction. Many retailers don’t require you to input your debit card PIN until your total reaches a threshold. Online retailers don’t ever ask, making it easy to become a victim of debit card fraud on the web. With that in mind, I like to set up alerts for any transaction above $25.
- The mobile banking app is free and can easily be downloaded here. With your mobile banking app, you can easily manage account alerts from anywhere. Plus, you can lock your debit card if you notice suspicious activity and request a new one all from the palm of your hand.
- Remember to protect your money on and offline. When I go shopping, I shield my card numbers and PIN with one hand while I pay for my purchase with the other. Many retailers don’t have shields on their card readers anymore. We must be diligent ourselves to keep our information safe. When I shop online, I never make purchases using free public Wi-Fi. When I do make a purchase online, I only do so from websites that start with “https” and have the padlock symbol in the corner. This gives me peace of mind that I’m taking all the precautionary steps to safely use my money in this digital age.
- Use a digital wallet to avoid carrying your cards. I like to keep my debit card in my digital wallet on my phone. This lets me tap and pay at many stores without exposing my card number. Plus, my phone requires Face ID to unlock the card. That’s something scammers can’t do. Just make sure you remember where you stash your cards at home.
- Alltru is concerned for your financial security. If you need any help managing your card, recovering from fraud, or securing your financial information, let us know. We’re here to help our members safely grow their money and feel empowered while doing so.
Be like me. Make cookies on a whim to feed your cravings and then immediately regret it. Also, protect your account and monitor every transaction for possible fraud. That’s something you’ll never regret.
