Over the years, paying for goods and services has become progressively easier. The processing of card payments is no exception, even more so with the advent of contactless technology and virtual cards for use both in store and online.
With the launch of its own free card services, MeDirect now also offers these benefits to all its clients. It is important, however, to always keep in mind that any technology has its risks. Card theft and fraud are a real threat but by following a few steps, you can make sure the risk is minimised.
Keeping your cards safe
Keeping your cards physically safe is a clear first step. Make sure you know where your card is and check regularly to see that it has not been moved, tampered with, or stolen. Do not disclose the PIN linked to your card to anyone, including the Bank or the Police, and do not write it down anywhere. It is also important to not disclose the card number or any other sensitive data on the card, such as the expiry date and CVV2, to any third party except when reporting an actual loss or theft.
Tips for using your cards safely
When using physical or virtual cards there are a number of things you can do to minimise the risks of theft or fraud. When withdrawing cash from an ATM, check the machine you are using for any obvious signs of tampering and be wary of any unsolicited offers of help. If you are shopping online, make sure the website you are using is secure and has an SSL certificate, which is indicated by the closed lock icon next to the web URL. Finally, when shopping in store, make sure no one is looking if you do need to enter your PIN to complete a purchase. Never let your card out of your sight.
Information at your fingertips
Information always plays a vital role in combatting card theft and fraud. Use the mobile app or the online banking platform to regularly check your accounts and make sure there have been no unexpected transactions. Check your statements to ensure these match your actual purchases.
Layers of protection
Of course, card providers and banks are also constantly working to improve the safety and security of cards. Like may financial services providers, MeDirect also requires customers to authenticate and authorise online payments through a two-factor authentication process via the Mobile Banking Application and/or by means of your password and an SMS issued by the Bank which will contain a one-time password. Daily, weekly and monthly limits on the amounts that can be withdrawn or spent are also used to help protect customers.
Take action
If your card is lost or stolen or if you think its security has been compromised for some reason, contact the bank immediately. You can do this by calling on +356 2557 4400, via the mobile application or the online banking platform. The quicker this is done, the faster the Bank will be able to stop the card, minimising your risk of losses. Avoid using email to alert the bank about a lost or stolen card, as this may not be picked up immediately.
Enjoy the freedom to use your money as you wish
Wherever there is money to be made, hackers and thieves will always try to find a way to compromise data and payments processes. By taking sensible precautions and using the technology and information available to you, these risks can be greatly minimised, leaving you free to enjoy your hard earned money in whatever way you wish.
