Free Online Article Directory. For Article Authors & Publishers
Nationwide Debit Card PIN Pad Tampering Scam
Unless you have been living under a rock you can't avoid the latest scam news about bank debit card PINs being stolen from customers at Michaels craft stores. Michaels is North America's largest specialty retailer of arts and crafts. The thieves, who have not been caught, used skimmers to steal not only debit card numbers, but the PIN id as well. Michaels has since found that 80 of its U.S. stores have had the PIN devices tampered with.
Steps To Take To Detect And Report Fraud Dozens of Michaels customers have already reported fraudulent transactions on their checking account. Michaels advises consumers who have purchased itemsfrom a Michaels store with a debit or credit card to monitor their statements, report any suspicious account activity, and change any PIN numbers and other account security settings. Consumers who believe their accounts were used without authorization should contact the card issuer directly (i.e., your bank).
Inaccurate Reporting At Yahoo! Finance A video about this scam is posted at Yahoo! Finance by Aaron Task with the Daily Ticker. Although he took a moment to reassure viewers that they are protected by law from fraudulent bank transactions, unfortunately he misinformed consumers about which law does just that. Aaron cited FDIC insurance as the source of consumer bank fraud protection. This is inaccurate. The Electronic Fund Transfer Act, more commonly referred to as Regulation E protects you from unauthorized bank transactions. Reg E covers the following types of transactions: Point-of-sale (POS) transfers;
Automated teller machine (ATM) transfers;
Direct deposits or withdrawals of funds;
Transfers initiated by telephone; and
Transfers resulting from debit card transactions, whether or not initiated through an electronic terminal.
Your Guaranteed Fraud Protection Situations like this certainly create an inconvenience for bank customers that are affected, but federal law protects consumers from taking the loss as long as customers call their bank and report the fraudulent activity in a timely manner. Your protection is secure if you notify your financial institution within two business days after learning of the loss or theft. If you wait beyond two days, you still have some protection, but you may be responsible for part of the loss. AccountNow Prepaid Visa or Prepaid MasterCard cards are protected against fraud with the Visa Zero Liability policy and the MasterCard Zero Liability policy. This protects you from unauthorized charges made to your prepaid card in case your card is lost or stolen.
Banks Still Best Bet-Cash Is Whack Despite the scariness of stories like this scam at Michaels stores, the Daily Dollar team remains firm in advising readers to continue having trust in the banking system. If you dislike using bank branches you have the option of using checkless accounts like Green Dot or AccountNow prepaid bank cards. It is still safer than carrying cash. If your cash is lost or stolen, you have no backup. There are no laws to protect lost or stolen cash and get it back into your pocket. At least within the banking system there are solid consumer protections.
Author Resource:-
Nathan Randall, editor, Daily Dollar Newsletter provides free daily advice on money matters plus coupons and discount codes. FYI...you can now access the Daily Dollar Newsletter via iTunes podcast, YouTube video, and on Facebook and Twitter too.
Would you like to have a consistently reliable source of loans for your small business? Then you must learn how to invest in your lending relationships. Only then will you have a stronger and more durable partner for business financing. So let's explore how you can unlock the secrets to reliable lending relationships
A personal loan, or unsecured loan, is a specific type of loan that is secured on a borrower's personal credit standing, not against any private property. A loan is usually agreed to be repaid over a set period with scheduled monthly repayments. Establishments providing personal loans include traditional banks, online banks, credit unions, and other types of lenders.
Business loans have ancillary terms and conditions which govern the actions of the borrower and provide remedies for the lender. The smart borrower knows where the miscellaneous landmines are buried in the business loan and takes action to limit lender interference in daily operations.
Business loans have ancillary terms and conditions which impact the financial condition of the borrower and provide remedies for the lender. The smart borrower knows where the miscellaneous monetary landmines are buried in the business loan and takes action to limit financial fallout. Here are some loan terms that you should step carefully around to avoid blowing up your business finances.
One solution many businesses are turning to in order to make financial management less costly and less risky is the introduction of reloadable MasterCard credit cards, also known as prepaid credit cards.
Originally, the concept about the payday loan was to offer customers a short-term, high-interest loan with no credit or background checks. Customers simply write post-dated checks from their personal checking accounts to get the money and upon returning, they repay the principal plus interest and lending fees.
Both businesses and people can order checks online. Anyone with a checking account is eligible. Many times the bank-provided checks don't provide everything people want when it comes to their checks. More often than not checks online are cheaper than bank provided versions.
There have been plenty of headlines lately about the outrage consumers are expressing over the proposed debit card usage fee that many banks announced. The new debit card fee would zap as much as $5 per month from your account if you used your debit card for purchases (not at the ATM). Florida credit unions have seen membership surge as customers leave big banks, reports the St. Petersburg Times.
Based on the rapid retreat by banks to charge us for using our debit cards, there's no doubt that American consumers are unified in their outrage. Case closed. However, there is a fair fee that banks should impose on us immediately to help recoup the massive revenue loss that banks suffered when the government passed regulations which capped off swipe fees. Shut the front door! It is only fair!
A hardship letter for a short sale can be of major importance to a home owner who finds it difficult to continue making payments on there mortgage. Its vital that this letter include all of the factors that make repayment of the loan impossible. It could be the loss of a job, a major medical expense, divorce or other situation. Learn these key elements and more by reading this article.
![[Valid RSS feed]](http://www.articlelisted.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Nathan Randall's Author Feed
Print This Article
Add To Favorites 