These days, fraud experts are telling us that having your debit or credit card compromised is not a matter of “if” but “when”. Fraudsters have become very skilled at what they do and cards can be compromised in a number of different ways. Just because you purchased something online over the weekend does not mean your card was compromised then and there. There are many different scenarios where this can occur. It is important to note that if you see a suspicious charge on your statement and you do not recall authorizing it, to contact your bank or credit card company immediately. You only have so much time to address a charge and dispute it (if necessary) before you can no longer dispute it and you could be out that money.
Financial institutions have so many channels available for consumers to be able to view their activity such as online/mobile banking. Logging in once or twice a week to be sure that what is on your account is authorized by you and that there are no discrepancies is a habit all financial institutions recommend for their customers. Sometimes you see one charge come through from a well-known company and you don't think much of it. Sometimes that charge is legitimate and then there is the time when you do not recall authorizing the charge. If you do not recall authorizing a charge, reach out to that company as soon as you can. Financial institutions see it all the time where after that one small charge, a couple weeks later, tens to a hundred charges are submitted over a very short span of time and your account is now drained. Don’t fret because there are regulations in place which protect consumers from unauthorized charges, but if you are ignoring the suspicious charges until later, you could be held liable for all or part of those charges.
Clinton National Bank has many products/services available to customers to assist with the monitoring of their account. Call us at (563) 243-1243 and speak with a customer service representative today!