As a credit card user who takes advantage of rewards programs while paying on time, I was intrigued when a representative from ACE Pink Prepaid Debit Card approached me about supporting our site and letting us learn more about their product.  Let’s talk a little bit about the benefits of a debit card over cash and credit cards, as well as any detriments.

DEBIT CARD BENEFITS
1) Protect yourself from yourself. The most important benefit of using a debit card is that once your account goes to zero, you aren’t able to spend.  If you’ve only got a debit card in your wallet, you will theoretically never spend more than you have, which is a very healthy thing in this age of consumerism.  Customers can load the ACE debit card up to $5,000 per day at an ACE location or up to $10,000 a day with direct deposit. The maximum balance on the account is $10,000.

2) Peace of mind with insurance. The second most important benefit of a debit card over cash is insurance.  Instead of carrying around a couple hundred bucks in your wallet, just carry a debit card.   If you get jacked on the streets while shopping, you can rest assured the robber won’t be able to use your card, and if they do, you have the debit card issuer on your side.  I never recommend anybody ever put up a fight with a mugger by the way.  Your wallet/purse is not worth injury or your life, especially if you have a replaceable debit card.

3) Rewards programs. The ACE Pink Prepaid Debit Card’s award to the consumer is that it donates a portion of all revenue to help fight breast cancer – a total of more than $350,000 in the past two years.  Their policy of giving back is very much in-line with this site’s policy.

4) Convenience. A debit card can be used for online transactions, ATMs, and anywhere that Mastercard and Visa are accepted.  Essentially, the debit card is a fantastic cash replacement for most transactions, except for when you lose NCAA tourney bets!

5) Love & Attraction. Susan G. Komen is a genius at trademarking the color pink for fighting breast cancer.  If you are a male, and bust out one of these cards on a date, I’m pretty certain the card will be a fantastic 15-30 minute talking point.  If you are at the bars, and tell the bartender to “keep it open,” I’m pretty certain women will want to inquire about the card.  If you are a woman using the card at the bar, guys will most certainly use your card as a talking point as well!

DISADVANTAGES OF A DEBIT CARD
1) Protecting Yourself From Yourself. If you are at the BMW dealer and really want to splurge, you might only be able to buy a set of wheels instead of the whole car with a $10,000 limit from ACE or any other card.  That said, I’m sure if you demonstrate your financial muscle, they’ll increase your funding.

2) Men Mock Men. If you hang out with a bunch of unruly, insensitive dudes, they might mock you for being a good guy and carrying a pink card.  If you’re too insecure to use it, then you best keep it hidden or use cash or a manly credit card instead.

3) A Card Is Still A Card. The reason why paying in cash is so painful is because cash is real, and a debit card is less real.  Although you can’t spend more than you fund in your debit card, you can spend it all if you are weak.

4) Fees. Debit cards can charge $10/month on average for it’s use.  The good thing is that if you are going to the ATM machine several times a month, that cost negates out.

CONCLUSION
I’ve never really thought about using a debit card until now.  Having been jacked at gun point in a strange land before, I’m hesitant to carry more than $100 in my wallet.  If I could carry zero cash in my wallet and just use a debit and credit card, that would be the ideal scenario.  A debit card is a useful tool for many of the reasons stated above.  Just remember to spend responsibly!

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Another day, another high-tech illegal ploy to separate you from the cash in your bank account.
CBS 2’s Mike Parker reports.

If you get this text message, ignore it. It reads: “H & R Block bank alert. Your card has been temporarily deactivated. Please call our card services line.”

It is not from H & R Block. It’s sent by thieves, and this is what you hear at that number:
“Due to our recent banking software upgrade, debit card reactivation is required.”

When Parker called the number he was then asked to enter his 16-digit card number, the pin number and the expiration date. He entered  totally phony numbers.

If the info had been legit, his bank account would have ripe for the picking.
One Bridgeport mother got that text two days ago, but was gun-shy.
“They could scam you anywhere. I’ve had my bank account tapped into a couple of times already,” Karen Woodman says. “That’s why I posted it on Facebook notifying my friends to beware.”
H & R Block says it is “advising recipients not to respond to the text.”
The company says it “does not send urgent text messages asking clients to provide sensitive data.”

Who does? People that want your money.
“They hide behind phone numbers and they hide behind fake addresses, and they’re probably in some other country somewhere in a coffee shop laughing about this,” says Steve Bernas of the Better Business Bureau.
It is almost impossible to track the addresses of scam connected phone numbers. Google may show you an address, but in almost every case, it turns out to be bogus.
Thieves almost always give phony addresses to their phone providers.

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Your debit card information is always at risk for theft. Take steps to keep it safe and don't be fooled by scammers who try to trick you.

1. Keep your debit cards safe.

Keep your credit cards in a purse or wallet close to your body where it can't easily be snatched away. After you make a purchase put your debit card away immediately. Confirm you have your debit card back in your possession before you leave the store or restaurant.
Never share your PIN with anyone, including financial institutions, law enforcement agencies, friends and family members.
Memorize your PIN and do not write it on or near your debit card. If you suspect someone has discovered your PIN, change it immediately.
When selecting a PIN, don't use obvious information. You could be liable if you use your name, address, telephone number, date of birth or social security number.
When using an ATM be aware of your surroundings. Look around before you begin your transaction. If you notice any suspicious activity, cancel your transaction and look for another ATM. When making a transaction from your car, make sure the car doors are locked.

2. Shred anything with your debit card number on it.

Rather than toss your bank statements directly into the trash, shred them to keep dumpster divers from getting their hands on your information. The same thing applies to old debit cards that have expired or been cancelled. You might even put the shredded pieces in different trash bags to thwart clever thieves who can put shredded pages back together.

3. Don't sign blank debit card receipts.

To avoid debit card fraud, always verify the amount on your debit card receipt before signing it. If you get a debit card receipt that has blank spaces in it, write $0 in those spaces or draw through them before putting your signature on the receipt. Otherwise, the cashier could write in an amount and send the purchase to your debit card issuer.

4. Avoid giving out your debit card information.

Only give out your debit card number or other sensitive information on calls you initiate to customer service using the number on the back of your debit card. Don't return calls to a phone number left on your answering machine and don't give your debit card number to anyone who calls you requesting the number. Debit card thieves have been known to pose as debit card issuers and other businesses to trick you into giving out your debit card number.

5. Be safe with your debit card online.

Don't click on email links from anyone pretending to be your bank, credit card company, or other business who uses your personal information, even if the email looks legitimate. These links are often phishing scams and want to trick you into entering your login information on their fake website.
Only enter your debit card number on secure websites that you can be 100% sure are legitimate. To be sure a website is secure, look for a lock in the lower right corner of your internet browser.

6. Report lost or stolen debit cards immediately.

The sooner you report a missing debit card the less likely it is that you'll have to pay for any fraudulent charges made on your debit card. Write down the customer service number for your debit card now so you'll have it if your debit card is ever missing.

7. Review your statements each month.

Unauthorized charges on your debit card are the first indicator of debit card fraud. If you notice a charge you didn't make, no matter how small, report the charge to your debit card issuer immediately. Your debit card issuer will tell you whether you should close your account to avoid credit card fraud.

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Debit cards are different
Would you give a thief direct access to your checking account?
No? Unfortunately, you may be doing just that by regularly using your debit card. Debit cards may look identical to credit cards, but there's one key difference: With credit cards, users who spot fraudulent charges on their bill can simply decline the charges and not pay the bill. On the other hand, debit cards draw money directly from your checking account rather than from an intermediary such as a credit card company.

Because of that, even clear-cut cases of fraud where victims are protected from liability by consumer protection laws can cause significant hardship, says Frank Abagnale, a secure-document consultant in Washington, D.C.

He cites the example of the TJX Companies Inc.'s T.J. Maxx data breach that exposed the payment information of thousands of customers in 2007. The incident resulted in $150 million in fraud losses, and much of it was pulled directly from customers' bank accounts. Although credit card users got their accounts straightened out and new cards were in the mail within a few days, the case created major problems for debit card holders, who waited an average of two to three months to get reimbursed, Abagnale says.

While debit card fraud is always a possibility, being careful where you use it can help keep your checking account balance out of the hands of criminals.

Skimming ATMs
The idea that outdoor ATMs are among the most dangerous places to use a debit card seems a little bit absurd. But some ATMs present a perfect opportunity for thieves to skim users' debit cards, says Chris McGoey, a security consultant based in Los Angeles.

Skimming is the practice of capturing a bank customer's card information by running it through a machine that reads the card's magnetic strip. Those machines are often placed over the real card slots at ATMs and other card terminals.

"Any transaction you do outdoors at an open ATM is going to be higher risk exposure," McGoey says. "If the public has access to it, then someone has the ability to add skimming devices to it, position cameras on it and position themselves in a way where they could surveil it."

He says you're better off using an ATM inside a retail outlet or other high-trafficked, well-lit place.
Julie Conroy, research director at Aite Group LLC, a Boston-based financial services research firm, says even the card terminals that card users must swipe to get into ATM vestibules are being used as a skimming site by criminals. You can spot ATM skimmers by checking for ATM components that look beaten up or askew, she says.

Stealing PINs at gas stations
Gas stations are another danger zone for debit card use.

"You go to a gas station and you stick your debit card in there and you swipe it through a machine," Abagnale says. "I'm sitting across the street with a laptop and an antenna. I put a skimmer in there, and I'm picking up all the information. Before you even get home, I've debited your account."

Gas station payment terminals have many of the characteristics card fraudsters love, Conroy says.

"In a gas station, where you do have a whole bunch of pay-at-the-pump kinds of things and minimal supervision, it's pretty easy for a bad guy to put a skimming device on and put a little pinpoint camera there and compromise debit cards that way," Conroy says. Thieves often use small cameras to capture footage of debit card users entering their personal identification number, or PIN, so they can have free access to their money.

She says that even if the thief doesn't manage to get your debit card PIN from such a device, he still may be able to duplicate the card's magnetic strip and use it for "sign and swipe" Visa or MasterCard transactions.

With the high potential for fraud in pay-at-the-pump debit transactions, it might make sense to use an alternative such as cash or credit cards the next time you fill up.

The Web is a risky place
Debit cards are a convenient way to buy products online, especially for those who don't like to use credit cards. Unfortunately, the Web is one of the most dangerous places to make purchases, Conroy says.

"Online is the No. 1 place where consumers should not use their debit cards," she says. "It's susceptible at so many points. The consumer could have malware on their computer, so it could be at their endpoint that the data get compromised. It could be a man-in-the-middle attack where somebody is eavesdropping on their communications via the wireless network. And then at the other end, that data goes into a database at the merchant. As we've seen with some of the higher-profile breach events over the last year or so, that data is going to be vulnerable if (they're) not properly cared for."

Aside from the potential for hacking at many different points in a transaction, Abagnale says a fundamental problem with using debit cards online is that it's impossible to know who is handling your information.

"Buying stuff online, you have to be careful because you have to know who you're doing business with. When you buy things online, what always kills me about that is people say, 'This is a safe site,'" Abagnale says. "Who works there?"

Restaurants keep customer data on file
"Would you care for a side of debit card fraud with that?"

Restaurant servers don't ask that question, but they might as well with the standard practice of taking customers' debit cards to run them behind closed doors.

"Any place where the card is out of hand" can increase the chances of fraud, says McGoey. "The guy comes to your table, takes your card and disappears for a while, so he or she has privacy," giving the person the opportunity to copy your card information.

Even restaurants without sit-down service can present a threat. Conroy says using debit cards to order delivery can be risky because cashiers tend to keep customer payment information on file. That may make future orders more convenient, but small businesses rarely take the steps necessary to safeguard payment information, she says.

Overall, she says, regardless of whether you use your debit card at a small restaurant or a big-box store, the possibility of fraud is always there. She cites the example of Michaels Stores Inc., which two and a half years ago saw its customers' debit card information stolen by debit card terminals doctored by thieves.

"Even if you do exercise caution ... there are still the Michaels-type incidents that will happen," Conroy says.

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Being a victim of debit-card fraud is not an experience that any banking customers wants go through, but it happens. As long as there are crooks out to steal your money, you will have to practice vigilance when it comes to where you use your debit card.
Having fraud occur on a debit card, as opposed to a credit card, can pose more financial havoc. Card issuers will typically issue refunds for all unauthorized transactions for both types of card. However, with debit cards, you won’t have access to the cash that was in the account during the time that it takes for the refund to complete.

Stand-alone ATMs
Stand-alone ATMs -- those not found at bank branches -- are prime targets for card skimmers, which are makeshift devices mounted on card-insertion slots to record card data. Card information is then used to duplicate cards that are used to make unauthorized purchases and cash withdrawals.
Fraudsters prefer these ATMs because they are not under the constant watch of bank associates and security cameras. Using ATMs in well-lit and high-traffic areas can reduce the chances of having your debit card skimmed.

Gas stations
ATMs are not the only places through which thieves like to steal debit card information. Payment terminals at gas stations are easy marks for card skimmers too -- especially at self-service pumps. Like stand-alone ATMs, gas pumps are easily accessible for the installation (and removal) of skimmers with few prying eyes.

Restaurants
It may be unsettling but waiters have been labeled as common culprits for debit-card fraud. Commonly, diners simply hand over their cards to settle the bill and the waiter walks off to charge the card. When no one is looking, the waiter may copy down card information and return the card to the patron. Dining customers have little to reason to suspect any wrongdoing until it is too late.

So, when using a debit card, make a note to watch the waiter charge the card to ensure that there is no debit-card fraud.


Public WiFi
Public places, such as coffee shops, hotels and airports, with wireless internet may be convenient for some leisurely shopping, but cyber-threats may be lurking in the shadows -- ready to steal your debit card information as you enter it during checkout.
Malware and phishing attempts are a couple of ways that cybercriminals can get their hands on your debit-card number. And like card skimming, that information can be transferred to a blank card to make purchases and withdrawals.
Practicing safe web-surfing (i.e., using updated security software and not opening questionable links) can help, but it is best not to access financial accounts on public WiFi -- even the safest passwords won't protect you this type of debit-card fraud.

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Using debit cards has become a way of life for many Canadians. In fact, Canadians are among the biggest per capita users of debit cards in the world. Whether you’re withdrawing cash from an ABM, using your card to pay for this week’s groceries, or punching in your Personal Identification Number (PIN) for a night at the movies, your debit card is a simple way to access your money. Using your debit card is a convenient way to get money from 60,000 banking and cash machines and for making purchases at more than 450,000 retailers across Canada.
It is also very safe, with more than 99 per cent of the four billion transactions occurring without incident each year in Canada. And while your bank is working to protect you from fraud, there are simple steps that you can take to protect yourself.

What is debit card fraud?
Debit card fraud happens when a thief “skims” or swipes the information off the magnetic stripe on the back of your card to create a duplicate copy of your card. They also have to capture your PIN to access your account and withdraw money or make purchases. Debit card fraud can also happen if your card is lost or stolen and you haven’t taken steps to protect your PIN.

Your bank is working to protect you
Banks have teams of fraud experts and highly sophisticated fraud detection and prevention systems to protect customers from debit card fraud. Very often, the banks’ security systems can detect fraud and reimburse and notify a client before the client realizes the fraud has occurred.
But banks understand that being the victim of debit card fraud can be upsetting for a customer: after all, their money is missing. If this does happen, banks will immediately look into the matter and get the money back to the customer as quickly as possible, which can usually happen within a few days or even before the customer knows it’s gone. infographic - card fraud
When using your debit card, you are protected by the Canadian Code of Practice for Consumer Debit Card Services and Interac policies which guarantee that, if you are a victim of debit card fraud, you will get your money back from your financial institution.

Canada has moved to more secure technology
Security measures are constantly being enhanced and technology is being upgraded to prevent fraud. Banks, the Interac Association and the major credit card companies are almost finished moving to chip technology for debit and credit cards. In addition to the magnetic stripe on the back, these cards are embedded with a microchip. When making a purchase, rather than swiping your card you now insert it and leave it in the store payment terminal while the transaction is processed. These cards use a technology called “cryptography” that allows the card and the store terminal to communicate with each other during the transaction and carry out security checks to ensure the card is valid.
The microchip is state-of-the-art in payment card technology and is extremely difficult to duplicate. In fact, chips cards have significantly reduced fraud in some countries where these cards are used. The transition to chip-based technology is on target, with virtually all debit cards and ABMs capable of chip transactions and all store terminals at retailers will be converted by the end of 2015.
The Interac Association, Visa Canada and MasterCard Canada are bringing chip card technology to Canada on behalf of the banks and other payment card partners. To learn more about chip technology, visit their websites at:
www.interac.ca/en/security/what-is-chip
www.visa.ca/chip
www.mastercard.com/ca/personal/en/technologies/chip/

How you can protect yourself
Your bank has sophisticated security systems in place, but there are still important steps you can take to further protect yourself:
Always protect your PIN: use your shoulder or your hand to shield your PIN when entering it into the keypad.
If you have a chip card, always insert first instead of swiping when making a purchase. This will protect you from having your card skimmed and, if the store terminal isn’t chip capable, it will prompt you to swipe. And always remember to take your card when the transaction is done.
Never lend your card or disclose your PIN to anyone else.
Memorize your PIN; don’t write it down.
Make sure your PIN cannot be easily detected if your card is lost or stolen — don't use your birth date or address or part of your telephone number.
Regularly review your transaction history online or on your monthly bank statements and report anything unusual to your financial institution immediately.
Change your PIN periodically.

What to do if you are a victim
If you are a victim of debit card fraud, you should contact your bank immediately and they will take the appropriate steps to protect you. For example, they may block your card to prevent losses, ask you to change your PIN or cancel your card and issue you a new one. Depending on the circumstances, the bank may also ask you to sign an affidavit if there are fraudulent transactions in your account. If there is money missing from your account, they will work to get it back as quickly as possible, usually within two or three days or sometimes before you even know that it’s gone.

The prevalence of debit card fraud
Debit card fraud is a crime that banks take very seriously, and their efforts to fight this crime have been paying off. Debit card fraud losses have dropped from a high of $142 million in 2009 to $29.5 million in 2013.
More than 10 million debit transactions are processed in Canada every day and more than four billion a year without incident. Of the 23 million active debit cards in circulation, less than half of one per cent were impacted by a skimming incident last year, so the odds of it happening are quite low. But banks will continue to adapt new technologies and new practices to fight this fraud, work with police and protect their customers.
The Interac Association collects debit card fraud statistics from banks and other debit card issuers, which can be found on their website http://www.interac.ca/en/stat-fraud

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What is a Credit Card Scam?
A credit card or debit card "scam" or fraud happens when someone uses your credit or debit card information without your permission. It may be as complicated as someone posing as a representative of your bank in order to get your credit card information, or someone posing as an employee of a company offering fabulous prizes in a sweepstakes who "only" needs your credit card number to cover shipping costs. It might also be as simple as someone looking over your shoulder and writing down your card number and password for their personal use.

Do I Have a Debit Card or a Credit Card?
Credit cards and debit cards are both kinds of "electronic money" that you can give retailers instead of cash. You should know which kind of card you have. There are different procedures to follow for each type of card when your card is used without your permission.

A debit card (or a "check card") combines the functions of an ATM card and a check. You can use a debit card to both get money from an ATM machine or to pay for items at a store. The money you spend is automatically deducted from your bank account. There are never any loans or interest charges.

A credit cardis like an expensive short term loan. You can "charge" items up to your "credit limit" (the maximum amount of the loan). When your bill comes, you pay the amount of the loan back. If you cannot pay the bill in full each time it arrives, you will also need to pay interest to the credit card company. Some credit cards also charge "annual fees." They might also charge different rates for cash advances than for purchases.

How Could I Be "Scammed?"
Most debit/credit card fraud involves lost or stolen credit cards. It can also occur when you do not properly dispose of documents, like credit card bills, debit card statements, or receipts showing your personal account information.

You might also be "scammed" when someone sees or hears your account or card number and copies it down for personal use, or when you willingly give it out to someone, like a telemarketer, who then uses it improperly.

How Can I Avoid Being Scammed?
You have the right to dispute charges made to your debit and credit cards without permission. But protesting these charges can be frustrating and take time. You can make many easy changes in your everyday routine to avoid being scammed.

Do not carry more debit or credit cards with you than you plan to use.  Keep the cards you do not regularly use in a safe place OR cancel the cards that you do not need. (You may not notice they are missing as soon as those you use regularly.)

Do not write your PIN numbers on your cards or keep them in your wallet or purse. Memorize your PIN (personal identification number). Do not give it out to anyone else.

Do not tell others your debit card or credit card number. All thieves need is your number to rack up charges by Internet shopping or telephone and mail order charges.

Do not give your Social Security number, mother's maiden name or account numbers to strangers who contact you, especially by phone, Internet or mail. Scammers sometimes pose as business, bank or government representatives to get you to give them personal information. Real financial or government organizations that do business with you already have this information. They will not ask for it by calling or e-mailing you.

Check billing statements, receipts, and other documents carefully. Make sure they are accurate. After you have checked your documents, either put them in a safe place or tear them up into tiny pieces. Thieves might try to take advantage of information on them.

Make sure all blank spaces are filled in or crossed off. When filling out a charge slip to pay a bill, always figure the total. Leave no blank spaces. This way, extra charges cannot be added without your knowledge. Only sign charge slips that are completely filled in and totaled.

Call your bank company or credit card company if you have not gotten a new card or a monthly bill that you know should be arriving.

Do not write your card number, account number or any other personal identifying information (like your Social Security number) on a postcard or outside of an envelope.

Tear or shred charge receipts, copies of credit applications, insurance forms, physician statements, bank checks and statements, expired charge cards and credit offers you get in the mail.

Keep a record of your card numbers, their expiration dates, and the phone number and address of each card company in a secure place. This way you can report missing or stolen cards as soon as you notice the loss/theft.

I Think I am a Victim of a Scam. What should I do?
There are federal laws to protect victims of credit card or debit card scams. These laws outline strict procedures that you, the credit card companies and banks must all follow in order to resolve the fraud. Make sure you understand the procedures that the credit card companies must follow. You may be entitled to financial benefits if the companies do not exactly follow the procedures.

A. Debit Card Fraud – The Electronic Fund Transfer Act

This federal law outlines what you should do if someone commits fraud against you in an electronic transfer. Example: using your debit card. The law limits the amount you are responsible for on charges made to your card without your permission.

What If my debit card is lost or stolen? REPORT the loss or theft AS SOON AS POSSIBLE. Usually companies have a 24-hour customer service line.
If you report the missing card before any charges are made, you are not liable for unauthorized charges on the card.

If you report the missing card within two days, the law limits liability for charges to $50 for charges made after you discover the loss or theft, but before you report the missing card.

If you report the missing card more than two days after discovering it missing, but within 60 days of the transmission of the statement showing the charges you did not make, you are liable for up to $500 of unauthorized charges.

If you do not report your loss within 60 days of the date of the statement showing the charges you did not make, your liability is unlimited. You have to pay for all charges made on the card without permission.

You may notify the bank of the lost card by phone. If the thief has not used your card yet, the bank will simply cancel your debit card and issue you a new one, with no charges to you. Follow your call up with a letter.

2. What If I notice strange charges on my bank statement?  NOTIFY the bank WITHIN 60 DAYS after you get the statement.

Your bank has ten business days from the date it gets your notification of a problem with your account to investigate and report its findings to you. The bank may ask you to give them more written notification.

If the bank needs more than ten days for its investigation, it may take up to 45 business days. If it does, it must deposit the amount of money in dispute into your account for the remainder of the investigation. The bank can take this money out of your account at the end of its investigation if it finds that the charges are correct. Do not spend this money until the investigation is done.

If the bank finds a mistake, it must fix it within one business day of finishing its investigation. If it finds no errors, the bank must notify you in writing of its determination within three days after the investigation ends.

The bank must give you copies of all documents it relied upon to make its decision if you ask for them.

You can notify your bank of the error on your statement over the phone.

3. What Should My Notice to the Bank Say?

In any phone call or letter to your bank to report an error on your statement, say:

your name and address

the date

your account number

you believe an error has been made on your statement (your statement does not accurately reflect charges that you have made on your card)

the amount of the error, and

the reason you believe there is an error. (Example:  "My card has been missing since (date) and I did not make the following charge(s) on this account.")

You should include copies (not originals) of relevant documents, like sales slips or receipts that support your position. Send your letter by registered or certified mail so you can later prove that your bank got it. Keep a copy of the dispute letter and all documents you get from the bank in return. Log any calls by writing notes about any conversations you have with the bank about this matter. Follow up these calls with a letter that confirms what you and the bank said.

4. What If my bank does not follow the rules for disputes?

If your bank does not follow the rules for settling disputes, you are entitled to an award of damages that is three times the actual amount of money you lost due to the bank's failure to act properly.

B. Credit Card Fraud – The Fair Credit Billing Act

Here too there are very specific procedures that both you and the credit card company must follow when dealing with possible cases of fraud.

1. What If my credit card is lost or stolen?  REPORT the loss or theft AS SOON AS POSSIBLE.

If you report your card missing in writing before any new charges are made, you are not liable.

If you notify your credit card company in writing of an unauthorized charge within 60 days of the date on the incorrect statement, your liability will be no more than $50.

If you do not notify your credit card company in writing, or you notify the company more than 60 days after receiving the statement with the unauthorized charge(s), the company does not have to investigate the matter and your liability is unlimited. YOU have to pay for all charges made on the card without permission.

Your credit card company must let you know it got your letter within 30 days unless the error in your report is fixed within that time.

When the company identifies an error in your billing statement, it has two billing periods (no more than 90 days total), to either fix the error, or explain to you in writing why it believes the amount on the statement is correct.

You must notify your credit card company IN WRITING if you want to dispute any unauthorized charges to your account. If you only call your credit card company, it does not have to investigate your account. You will be liable for all charges on the credit card statement.

2. What should my written notice to my credit card company say?

It should say:

your name and address,

your account number,

you believe an error has been made on your statement,

the amount of the error, and

the reason you believe it is an error. (Example: "My card has been missing since (date). I did not make the following charge(s) on this account.")

Send your letter by certified mail, so that you can verify the date the credit card company gets it. Include copies (not originals) of documents like receipts or sales slips that support your position. Send the letter to the address for "billing inquiries" on your credit card statement, not to the address where you send your checks to pay your bills.

Keep copies of the notice you send, any letters or documents the credit card company sends you back, and a log of all calls you have with the credit card company about the fraud. You will need these later if the credit card company disputes any part of your claim.

3. What If my credit card company does not fix the error?

During the two-billing cycle/90-day period for investigation, the credit card company cannot report or threaten to report the disputed amount to credit reporting agencies or other creditors. Also, the credit card company cannot limit or close your account because you do not pay the disputed amount. However, it can apply the disputed amount towards your credit limit and charge you interest on the disputed amount. If the credit card company later agrees with you that there was an error on your statement, it must subtract the interest already charged on the amount found to be in error.

If your credit card company sends you an explanation of its findings stating that it will not fix the error on your statement, you can challenge its decision by writing another letter to the credit card company within ten days of getting the decision.

The letter should have all of the same information as your first letter reporting the error on your billing statement. Explain that you still believe you do not owe the amount in question, and you refuse to pay it.

The credit card company can now report your account to a credit reporting agency, but it must also include a statement to the effect that you do not believe you owe the money.

4. My credit card company does not abide by the rules for disputes. What can I do?

If the credit card company does not comply with the above time limits, it must credit you the disputed balance or $50, whichever is less. You will get to keep this even if it is later found that the amount billed to your statement was correct.

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Waukegan police have carried out a sting operation on against people who allegedly scammed people out of their debit cards and PINs stole money from victims’ accounts.

Police said a resident contacted them this week about being approached on a social media site by someone promising free scholarship money in exchange for a bank debit card and the PIN that goes with it.

The resident agreed to take part in a sting, and set up a meeting. As soon as the debit card was turned over, police arrested 19-year-old Tyler Taylor and 18-year-old Ayale Banks, who allegedly was acting as a lookout.

Police said the duo admitted duping more than a dozen others in Waukegan, Gurnee, Lindenhurst, Round Lake Beach, and Zion.

Both men were charged with attempted deceptive practices for the incident where they were caught in the sting, and deceptive practices for the prior scams. Bond was set at $25,000 each.

Police said the way the scam works is the scammer deposits a bad check into the victim’s account, then withdraws money from the account a few hours later. Once that debit card and PIN are given to someone else, it’s the real owner’s responsibility to pay back the bank for any overdrawn money.

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Want an easy and secure way to make everyday purchases? Don't have cash or checks handy?

Convenience
Use your debit card for all of your everyday purchases at millions of locations worldwide
Make purchases and get cash back using your PIN at participating retailers
No minimum purchase required
Purchases are automatically deducted from your checking account
No–fee balance inquiries, deposits and cash withdrawals, payments and transfers at any Citizens Bank ATM

Security
Zero Liability protection against unauthorized purchases1
Proactive fraud monitoring
Extended warranty on eligible debit card purchases2
Available 24-hour Roadside assistance service
A safer alternative to cash

Control
View recent transactions, balances and monthly statements 24/7 with online and mobile banking
Set up recurring payments to avoid late fees
Get additional cards for each person on your account
Set up Online Banking alerts to keep track of your debit spending

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Whether you shop, dine, or make your travel plans, you can always count on your Visa Debit card. Plus, you can now make online purchases securely with enhanced card feature.

An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. This removes the need for bank clients to go to the bank to remove cash from their account as they can now just go to an ATM or pay electronically at merchant locations. This type of card, as a form of payment, also removes the need for checks as the debit card immediately transfers money from the client's account to the business account.

A debit card (also known as a bank card or check card) is a plastic payment card that provides the cardholder electronic access to his or her bank account(s) at a financial institution. Some cards have a stored value with which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a payer's designated bank account. The card, where accepted, can be used instead of cash when making purchases. In some cases, the primary account number is assigned exclusively for use on the Internet and there is no physical card.

In many countries, the use of debit cards has become so widespread that their volume has overtaken or entirely replaced cheques and, in some instances, cash transactions. The development of debit cards, unlike credit cards and charge cards, has generally been country specific resulting in a number of different systems around the world, which were often incompatible. Since the mid-2000s, a number of initiatives have allowed debit cards issued in one country to be used in other countries and allowed their use for internet and phone purchases.

Unlike credit and charge cards, payments using a debit card are immediately transferred from the cardholder's designated bank account, instead of them paying the money back at a later date. Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash. Merchants may also offer cashback facilities to customers, where a customer can withdraw cash along with their purchase.

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