Is more being 'swiped' than just your debit card?

How to protect yourself from debit card scams. In Canada, debit cards have become more popular than credit cards, to pay for purchases of all kinds. While the debit card is one of the most convenient and safest ways to make purchases, we want you to be aware of occasional scams that are out there, and how you can avoid being a victim.

How do the scams work? In one scam, the criminals use fake debit card swipe machines to record the customer's financial information. These machines are not connected to the Interac banking system even though a receipt is given. The recorded card number and Personal Identification Number (PIN) are then used later to steal from the customer's bank account, through the use of a phony debit card.

Here are some common sense tips to protect yourself:

• Keep track of all debit card purchases, no matter how small, by frequently checking either Transactions by Phone or The Credit Union Online to confirm that all purchases have been recorded.
• Always try to deal with merchants/ companies you know and trust.
• Change your PIN regularly. If transactions are not posted it is a sign that your information may have been recorded.

If you suspect fraud:

• Contact The Credit Union immediately and give them the details of where the purchase was made.
• Cancel your PIN number and create a new one to avoid unauthorized access to your account.

By following these few simple steps you can protect your important financial information, and continue to enjoy debit card convenience at your favourite retailers.