Monday, April 11, 2011

Guidelines to keep your money safe

How to protect your money?

Your card, your PIN and other banking passwords are the key to accessing your money electronically. So it's important that you keep them secret. Following these guidelines will keep your money safe.

Protection your card

- As soon as you receive your card, sign it on the back using a ball-point pen.
- Carry your card whenever you can, and regularly check that you still have your card.
- Never give your card to someone else, even friends or family.
- Remember to retrieve your card whenever you use it.
- Cut up any expired cards and dispose of the pieces securely.

Loss, theft and other fraud risks

You need to tell your bank immediately, if:

1) your card is lost or stolen,
2) someone else has used your card, or
3) you think someone has discovered your PIN or banking passwords.

If you don't, you may be held responsible for losses that occur as a result of you not telling your bank sooner.

Protecting your PIN or password

- Memorise your PIN or password straight away and destroy any bank letters or correspondence that it's included in.
- If you need to record your PIN or password somewhere, make sure it's disguised and kept well away from your card.
- If you select your own PIN or password, make sure you change it regularly, say every two years.
- Never tell anyone your PIN or password, not your friends, family or retailers.
- Never enter your PIN in an electronic banking terminal that looks suspicious, does not look genuine or looks like it's has been modified.
- Make sure no-one watches you as you enter your PIN or password at an ATM, EFTPOS terminal, using Telephone Banking or Online Banking.
- If you do select your own PIN or password, don't choose something that is going to be easy to guess, for example: part of the number printed on your card, an old PIN or password, consecutive numbers, repeated numbers, a numeric pattern, your date of birth, phone number or drivers licence number.
- Tell your bank straight away, if your PIN notification arrives damaged in the mail. If your PIN or password changes without you requesting it or if you've requested or are expecting one, that hasn't turned up.

Safe Usage

- Always check your account statements and contact your bank straight away if there are any transactions you don't recognise regardless of the amount.
- Be careful when providing your card details over the phone or internet.
- Always exercise caution when viewing emails claiming to be from your bank. Your bank would never ask you to click on a link in an email, nor would your bank will ask for your account information or login details by email.
- Before travelling provide your bank with your travel itinerary so your bank doesn't unnecessarily interrupt your trip with security questions.
- When travelling, be aware of card security and keep your belongings safe at all times.
- Avoid using ATMs in poorly lit areas.
- Due to your bank security measures, you may experience a delay or inability to perform some transactions in some overseas locations. If this occurs, please contact your bank using the number on the reverse of your card.


- If an unauthorised transaction or error has been made, in some cases your bank can charge it back to the merchant.
- In order for your bank to reverse the transaction, you need to report the transaction to your bank and provide them the details they need.
- You have 90 days from the date of the transaction to request a charge back, otherwise your bank may not be able to reverse the transaction.

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