Keyboard > You Lost Your Debit Card -- How Much Do You Pay?

You Lost Your Debit Card -- How Much Do You Pay?

You stop at the grocery store for just a few items, but the next thing you know, you have a cart full of food and only a few bucks in you pocket. That when you notice that you left your checkbook at home, but it's not a problem you have your debit card with you. You slide your card, punch in a few numbers and your on your way. A few days later you notice that you don't have your debit card and now instead of enjoying its convenience, you're worried about how much in fraudulent charges you'll be responsible for. Debit cards have become extremely popular as the plastic of choice for paying for many types of purchases.

According to consumer experts more than 2/3rd of Americans have a debit card in their wallet and, in 2003, debit card purchases topped $1.48 trillion, outpacing credit card purchases by nearly $300 million. The convince of sliding a card instead of writing a check has been a boon for retailers, but its also been a boon for debit card fraudsters and identity thieves. Last year the American Bankers Association (ABA) reported that fraud involving debit cards cost banks nearly $51 million and many bankers believe that this is just the tip of the iceberg. If you're one of those people who prefer using your debit card instead of writing a check, then you need to know that you're at risk of losing money every time you slide your card or present it to pay a bill. How much you can lose depends on the type of card you carry and when you report the loss or theft.

What's your responsible for fraudulent charges on your card? Since your debit card is tied to your checking or savings account, if it's lost or stolen and someone else uses it, the consequences could be financially devastating. The amount of fraudulent charges you could be responsible for depends on how quickly you report the card lost or stolen to the issuing bank.

If you determine that your card has been lost or stolen and report it to the issuing bank within 2 days, of discovering the loss, you'll only be held responsible for up to $50 of fraudulent charges made on your card.
If you report the card lost or stolen in 2 to 60 days, you can be responsible for up to $500 in fraudulent charges.
If you wait more than 60 days after receiving a bank statement that includes an unauthorized transfer, you can be held responsible for an unlimited amount of fraudulent charges on your card, but you will not be held responsible for any funds withdrawn after you notify your bank that the card was lost or stolen.

Debit cards with the Master Card or Visa logo offer a higher level of protection for some consumers.

Visa and Master Card have both placed a voluntary limit of $50 on debit cards bearing their logo where the transactions are signature based. Steps to take if your debit card is lost or stolen In the event that your debit card is lost or stolen, there are certain steps you need to take immediately to limit your responsibility for fraudulent charges. First, call the issuing bank and cancel the card immediately! If you contact the bank and cancel the card before any charges are made on the card you won't be held responsible for any charges. Even if you think you lost the card and that you may find it, it's safer to cancel the card and limit your liability. Make sure that you keep a written record of the date, time and who you spoke to at the issuing bank.

Second, file a police report. Whether or not your bank requires it, you should file a police report with your local police department. In the event that a negative entry is made on your credit report about charges that were fraudulent, you'll need the report to prove that you didn't make the charges. The best way to prevent fraudulent charges on your card is to keep your card and account numbers out of the hands of thieves. Identity thieves are extremely sophisticated and they don't need to have the physical card to drain your account, all they need certain information from the card.

Here are some steps that you should take to protect yourself from card thieves. Be aware of your surroundings. If you use your debit card at an ATM machine, make sure that you're aware of who is around you and shield the keyboard with your body when entering your personal identification number (PIN). When using a drive up ATM, make sure that the area is well lit and is in view of passing traffic. Don't use an ATM in a neighborhood you feel uncomfortable in.

Check out the ATM machine. If there is a transparent overlay on the ATM keyboard don't use the machine. ATM thieves use keyboard overlays to capture PINs. Also, if there is a detached card reader next to the machine, take your business elsewhere: these devices are used to capture debit card data. Don't use your debit card for online purchases, use your credit card.

If online thieves get your debit card information they can drain your bank account; if they get your credit card information they can only make charges up to the credit limit of the card. It's much easier and less costly to dispute credit card charges than charges than withdrawals from your bank account. Commit your PIN to memory, don't write it down. Don't give your PIN to anyone, not even someone at the issuing bank. Using your debit card to pay for purchases is convenient and fast, but it also exposes you to numerous risks.

Be card smart: keep track of your debit card, monitor your bank account on a regular basis, take precautions when using your debit card, and, if your card is lost or stolen, report it immediately..

Drahcir Semaj is a St. Cloud, MN based freelance writer who writes about health and personal finance issues. He can be contacted at his email address: drahcir@drahcirsemaj.com.

Securing Your Accounts With Well-Crafted Passwords

In the past I've never really paid much attention to security issues when it comes to user names and passwords. Frankly I figured it was all a lot of overblown hype. This led to an unfortunate incident that involved my website being attacked, apparently by a skillful youth with a propensity for mischief.The main security flaw with my website was probably the simple fact that the username and password were exactly the same. Granted I did realize that this wasn't highly intelligent but I didn't have the power to change it myself, and I didn't think it really mattered enough to bother about it. Having an identical username and password is a massive "no-no" in computer security.

Your username and password should not even be related along the same line of thought. A username of "Dragon" and a password of "Fire" is not a secure combination.For maximum security, passwords should not be cohesive words or phrases and should not be too obviously related to something like your birthday or...

Securing Your Accounts With Well-Crafted Passwords

Keyboard > Securing Your Accounts With Well-Crafted Passwords

The Happy Tinkerer - Making Homemade Devices For The Fun Of It

I've always liked to make gadgets and gizmos that have some function, either useful or not so useful. It started with the simple things that many kids make - slingshots, a simple bow and arrow, a toy boat. Occasionally I made more involved items such as a canoe and a dune buggy. Then there was the grass hut - 12 feet across, octogonal in shape, and thatched top to bottom with a thick layer of grass. I built it in a remote location, near a stipmine filled with water.

Hauled the cut grass in a 1972 Volkswagon convertible with the top down. Piled the grass high in the back seat. It must have taken a dozen trips back and forth from a nearby hay field.Simple things appeal to me more than costly homemade items. A small project lets me pursue an interest without interfering with other goals. A project with a small amount of time invested seems more like entertainment.So now when I don't feel motivated to do more practical things I often turn to an idea about some device or other that...

The Happy Tinkerer - Making Homemade Devices For The Fun Of It

Keyboard > The Happy Tinkerer - Making Homemade Devices For The Fun Of It

Securing Your Accounts With Well-Crafted Passwords

Securing Your Accounts With Well-Crafted Passwords

Keyboard > Securing Your Accounts With Well-Crafted Passwords

Lingerie, Sore Knees, and Male Shoppers

At the top of the list of things that I most don't like to do, shopping has a hallowed spot. Granted, there are a couple of things that I would hate to do more, but my editors would have six strokes if I entered into dialogues about any of them here. Being respectful of their wishes, and also respectful of the fact that writing a column that no one would print is rather pointless, I'll move forward and get right to the point. I was forced into a shopping experience for a computer part today, and while doing that l learned a tad more about women, which is always a good thing.First off, about my computer - a few days ago I spilled something I shouldn't have on my keyboard, which necessitated the purchase of another one. After I got all of the cussing out of my system, I grimly realized that I was going to have to enter that one true hell for all men, a shopping mall.

Honest to God, I'm cringing just writing down those two words. Shopping malls are the bane of all genuine men, and...

Lingerie, Sore Knees, and Male Shoppers

Keyboard > Lingerie, Sore Knees, and Male Shoppers

The iLugger II iMac G5 Soft Case Also Transports the Mac Mini

(ContentDesk) August 22, 2005 -- LTA Projects of Cookeville, Tenn., has discovered that Mac users aren't just buying the iLugger II soft case for their iMac G5's.
They are also buying them to transport a Mac Mini as a full desktop computer system, including a full size monitor (up to 20" flatscreen, most brands), keyboard, mouse, and other accessories.
The Mac Mini, coupled with a full size monitor and keyboard, creates a very efficient desktop computer system.
Add the iLugger II soft case, and it functions as an inexpensive portable computer as well.The iLugger II soft case also has the following features:* Nice non-slip shoulder strap pad* Padded backpack straps that hide away when not in use* Padded hand strap with Velcro closure* Handle strap on side to help support shoulder strap* Rigid plastic screen protector* Pen & miscellaneous pockets on the front of the bag (hidden for aesthetics)* Business card / ID pocket on the top* Same high quality construction...

The iLugger II iMac G5 Soft Case Also Transports the Mac Mini

Keyboard > The iLugger II iMac G5 Soft Case Also Transports the Mac Mini

real

You Lost Your Debit Card -- How Much Do You Pay? patio furniture Keyboard

You Lost Your Debit Card -- How Much Do You Pay? photo printer Keyboard

You Lost Your Debit Card -- How Much Do You Pay? payday loans Keyboard

New Range of Flashing Hen Night Accessories Available from Letsparty2

Heading up the range will be a flashing silver finish tiara with an attached white shoulder length veil. The tiara has a pink moulded "Bride to Be" name on front set with three red flashing LED lights (light emitting diodes) that have a running flash pattern. Included are built in batteries and a convenient on/off switch.To complement the tiara a red satin sash is also available with a line a 6 flashing LED lights and comes printed with a choice of "Bride To Be", "Hen Party" or even "Party Girl"...

New Range of Flashing Hen Night Accessories Available from Letsparty2

Keyboard > New Range of Flashing Hen Night Accessories Available from Letsparty2

You Lost Your Debit Card -- How Much Do You Pay? mattress

electric generators

loans You Lost Your Debit Card -- How Much Do You Pay?