Buying a Registration Service

Greetings,

Thank you for joining me on the last installment of
Credit & Debit card safety & security.

For an annual fee, companies will notify the issuers of your credit card and
your ATM or debit card accounts if your card is lost or stolen. This service
allows you to make only one phone call to report all card losses rather than
calling individual issuers. Most services also will request replacement cards on
your behalf.

Purchasing a card registration service may be convenient, but it’s not required.
The FCBA and the EFTA give you the right to contact your card issuers
directly in the event of a loss or suspected unauthorized use.If you decide to
buy a registration service, compare offers. Carefully read the contract to
determine the company’s obligations and your liability. For example, will the
company reimburse you if it fails to notify card issuers promptly once you’ve
called in the loss to the service? If not, you could be liable for unauthorized
charges or transfers.

For More Information :
The following federal agencies are responsible for enforcing federal laws that
govern credit card and ATM or debit card transactions. Questions concerning
a particular card issuer should be directed to the enforcement agency
responsible for that issuer.

Board of Governors of the Federal Reserve System Regulates
state-chartered banks that are members of the Federal Reserve System,
bank holding companies, and branches of foreign banks:
Division of Consumer and Community Affairs
Stop 801 20th and C Streets, NW
Washington, DC 20551
202-452-3693; www.federalreserve.gov

Federal Deposit Insurance Corporation
Regulates state-chartered banks that are not members of the
Federal Reserve System:
Division of Compliance and Consumer Affairs
550 17th Street, NW
Washington, DC 20429
877-ASK-FDIC (275-3342) toll-free;
www.fdic.gov

National Credit Union Administration
Regulates federally chartered credit unions:
Office of Public and Congressional Affairs
1775 Duke Street
Alexandria, VA 22314-3428
703-518-6330; www.ncua.gov

Office of the Comptroller of the Currency
Regulates banks with “national” in the name or “N.A.” after the name:
Office of the Ombudsman Customer
Assistance Group
1301 McKinney Street, Suite 3710
Houston, TX 77010
800-613-6743 toll-free; www.occ.treas.gov

Office of Thrift Supervision
Regulates federal savings and loan associations
and federal savings banks:
Consumer Programs
1700 G Street, NW
Washington, DC 20552
800-842-6929 toll-free; www.ots.treas.gov

Federal Trade Commission
Regulates other credit card and debit card issuers:
Consumer Response Center
600 Pennsylvania Avenue, NW
Washington, DC 20580
877-FTC-HELP (382-4357) toll-free; ftc.gov

The FTC works for the consumer to prevent fraudulent, deceptive, and unfair
business practices in the marketplace and to provide information to help
consumers spot, stop, and avoid them.

To file a complaint or to get free information on consumer issues, visit ftc.gov
or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.

The FTC enters Internet, telemarketing, identity theft, and other fraud-related
complaints into Consumer Sentinel, a secure, online database available to
hundreds of civil and criminal law enforcement agencies in the U.S. and
abroad.

I hope these past few blogs have help you out.

Sincerely,

Trapper
http://www.sherwoodlocksmithing.com

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Protecting your Debit and Credit Cards

Protecting Your Debit and Credit Cards

The best protections against card fraud are to know where your cards are at
all times and to keep them secure. For protection of ATM and debit cards
that involve a Personal Identification Number (PIN), keep your PIN a secret.

Don’t use your address, birthdate, phone or Social Security number as the
PIN and do memorize the number.

The following suggestions may help you protect your credit card and your
ATM or debit card accounts.

For Credit and ATM or Debit Cards:

Be cautious about disclosing your account number over the phone unless
you know you’re dealing with a reputable company.

Never put your account number on the outside of an envelope or on a
postcard.

Draw a line through blank spaces on charge or debit slips above the total
so the amount cannot be changed.

Don’t sign a blank charge or debit slip.

Tear up carbons and save your receipts to check against your monthly
statements.

Cut up old cards — cutting through the account number — before disposing
of them.

Open monthly statements promptly and compare them with your receipts.
Report mistakes or discrepancies as soon as possible to the special
address listed on your statement for inquiries. Under the FCBA (credit cards)
and the EFTA (ATM or debit cards), the card issuer must investigate errors
reported to them within 60 days of the date your statement was mailed to you.

Keep a record — in a safe place separate from your cards — of your account
numbers, expiration dates, and the telephone numbers of each card issuer
so you can report a loss quickly.

Carry only those cards that you anticipate you’ll need.

For ATM or Debit Cards:

Don’t carry your PIN in your wallet or purse or write it on your ATM or debit
card.

Never write your PIN on the outside of a deposit slip, an envelope, or other
papers that could be easily lost or seen.

Carefully check ATM or debit card transactions before you enter the PIN or
before you sign the receipt; the funds for this item will be fairly quickly
transferred out of your checking or other deposit account.

Periodically check your account activity. This is particularly important if you
bank online. Compare the current balance and recent withdrawals or
transfers to those you’ve recorded, including your current ATM and debit
card withdrawals and purchases and your recent checks. If you notice
transactions you didn’t make, or if your balance has dropped suddenly
without activity by you, immediately report the problem to your card issuer.
Someone may have co-opted your account information to commit fraud.

So far, in the past three posts we have talked about lost or stolen credit
and debit cards, fraudulent charges and in this post how to protect your
cards. Join us in our next post as we wrap this up with buying a
Registration Service and all the contact numbers and info you may need.

Sincerely,

Trapper

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ATM or Debit Card Loss

ATM or Debit Card Loss or Fraudulent Transfers (EFTA)

Your liability under federal law for unauthorized use of your ATM or debit card
depends on how quickly you report the loss. If you report an ATM or debit
card missing before it’s used without your permission, the EFTA says the card
issuer cannot hold you responsible for any unauthorized transfers. If
unauthorized use occurs before you report it, your liability under federal law
depends on how quickly you report the loss.

For example, if you report the loss within two business days after you realize
your card is missing, you will not be responsible for more than $50 for
unauthorized use.

However, if you don’t report the loss within two business days after you
discover the loss, you could lose up to $500 because of an unauthorized
transfer. You also risk unlimited loss if you fail to report an unauthorized
transfer within 60 days after your bank statement containing
unauthorized use is mailed to you.

That means you could lose all the money in your bank account and the
unused portion of your line of credit established for overdrafts. However,
for unauthorized transfers involving only your debit card number
(not the loss of the card), you are liable only for transfers that occur after
60 days following the mailing of your bank statement containing the
unauthorized use and before you report the loss.

If unauthorized transfers show up on your bank statement, report them to
the card issuer as quickly as possible. Once you’ve reported the loss of your
ATM or debit card, you cannot be held liable for additional unauthorized
transfers that occur after that time.

Stay tuned for our next post. We will discuss how to protect your ATM or
Debit card and also your credit cards.

Sincerely,

Thomas “Trapper” Sherwood
www.sherwoodlocksmithing.com

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PS…