At this time of year we tend to spend on presents and stuff for the holidays.. and I thought a general reminder may be in order for your banking security.
Online shopping is very popular and convenient but it is important that you determine that you are using a reliable and trustworthy retail website. At the same time, banks’ security systems will be monitoring your accounts.
Banks have computer systems which monitor and detect suspicious transactions, even before a customer may notice anything odd on their account. If banks suspect that your card has been stolen or the account has been compromised, then they will take action to protect accounts.
It’s important for your bank to have your up-to-date contact numbers – mobile, work and home phone. If your bank sees suspicious transactions on your account they will block the card to prevent more fraud occurring and then may try to contact you.
Banks may have to act very fast in such cases and if they cannot reach you, they may block your card anyway to protect your account. So it’s important they always have your most current contact details, especially if you are traveling away from home, so they can contact you.
Help your bank help you by informing them of your travel plans, especially if you are heading interstate or overseas. That way, transactions in another country or state won’t raise alarm to bank staff.
I hope you have a happy and safe holiday season and I'll see you in 2015 :-)