There have been numerous posts regarding this issue over the past few weeks. I personally was a victim of this fraud as well. Please refer to the following for more details, as well as the additional information below that I had posted earlier:
https://www.talkofthevillages.com/sm...ic,5488.0.html
https://www.talkofthevillages.com/sm...ic,5495.0.html
https://www.talkofthevillages.com/sm...ic,5579.0.html
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I am adding the following to this thread - I had posted this information earlier last week when I was in the process of cancelling my debit card and closing my linked checking account due to recent fraud.
It's highly unlikely that it was coincedental that the only place I have used my debit card since we moved to The Villages in January was Sweetbay...management of the store should at the minimum be providing their customers with the following information, as should local banks, since many residents have their accounts there.
As a retired banker, I am diligent about checking my accounts online daily and would not want to wait to find out about unauthorized activities when I receive my monthly statement.
Please share this with as many people as you can. Most credit card companies do monitor activity, but that may not always the case for debit purchases, though that is changing. Liability may be different - check with your card issuer.
Below are some guidelines and informative links to for both credit and debit card info:
From the FTC:http://www.ftc.gov/bcp/conline/pubs/credit/cards.shtm
From bankrate.com -
http://www.bankrate.com/bos/news/che...rd_tips_a1.asp
Best practices:
1. Keep receipts, and note debits in your checking register.
2. Check your account balance frequently either online or through the bank to avoid overdraft.
3. Beware of bank overdraft policies and fees. Customers can decline the bank's "convenience" coverage for overdraft, which could cost high fees if they overdraw their accounts. Instead, sign up for overdraft protection that is covered by a savings account.
4. Most debit cards now have "zero liability" protection that exceeds what the federal laws call for, so security is a lesser issue. Still, consumers should check with their banks to see how debit transactions are processed. Only those going through the Discover, MasterCard or Visa networks may be covered by zero liability.
5. PIN transactions are more secure than signature transactions, although most don't qualify for reward points.
6. If consumers pay off their credit card balances each month, they're better off using a credit card with better rewards for purchases than a debit card or check card.
7. Find out what the bank's daily limit for usage is for your checking account.
8. If a cardholder's balance is low, it's best not to use debit for purchases such as gas, where a hold of $50 will be placed on the card.
http://www.dolans.com/banking/debit_card_warning.html
http://www.dolans.com/credit_smarts/...tml?cc=forward