Protect yourself from bank or credit card fraud

Using cards as a method of payment is considered a safe and convenient way to pay, however, it is essential to be vigilant when using bank cards in order to protect against fraud.

This is according to First National Bank credit card chief executive officer, Chris Labuschagne, who said bank cards have many security features which are designed to minimise fraud while improving efficiency.

Labuschagne offered the following protective measures against card fraud:

• Take note of card safety measures recommended by your bank
• Do not listen to anyone who uses reckless measures that could damage the quality and function of your card. Bank cards are for the purpose of performing specific tasks and contain security features which may not be easily visible. Tampering with it could cause a great deal of damage.
• Do not keep your card together with your pin
• Instead of writing down your pin on a piece of paper or saving it on your cellphone, rather memorise it.
• Immediately report stolen or lost cards
• Lost or stolen cards accounted for 56.2 percent of card fraud losses last year. While this could be due to a number of reasons, it’s another reminder that people need to immediately report lost or stolen cards to prevent any losses.
• Take advantage of contactless payments
• The introduction of new payment technologies give consumers far more control over their bank cards. All you have to do is look for the contactless sign and simply tap without handing over your card. This method payment is not only quicker but also gives you peace of mind.
• Be vigilant when purchasing online

Ensure that you are dealing with a reputable service provider before sharing your card details online. Card payments offer a number of benefits and far outweigh the risk of handling cash. However, it is essential to be cautious when purchasing online.