The holiday shopping season is at its peak, and while you may still be trying to snag that great deal on the perfect gift, you want to make sure you’re safe while doing it. Mountain America Credit Union shares advice to keep your finances and purchases secure over the holidays.
1.Look for online shopping red flags
When shopping online, inspect your web browser’s location bar or URL bar for https:// or a lock symbol. These tell you the website has security measures to prevent your payment information from being stolen.
Beware of “too-good-to-be-true” deals online. While finding great offers online is possible, exercise caution with deals on obscure websites, unofficial or seemingly official social media pages, or popular retailers offering prices significantly lower than their competitors. These red flags can indicate a setup to trick you into revealing your personal and payment information.
Avoid paying for merchandise or services using peer-to-peer payment platforms before you receive the items you ordered. Unfortunately, in many cases, it’s difficult to dispute those payments if you don’t get what you ordered.
2.Utilize your mobile wallet
You can use apps like Google Wallet™ or Apple Pay to make a purchase instead of tapping or inserting a card, which provides the advantage of not having to carry a physical card that could get lost or stolen in the hustle and bustle. Your mobile wallet is an app on your phone, so even if your phone is misplaced or stolen, someone would need your Face ID or a password to access it.
Whenever you make a payment using a mobile wallet, a unique token or ID is generated for that specific transaction. This token is used in place of your card information during the transaction process, keeping your card details secure and safeguarding them from potential compromise.
Mobile wallets may feel daunting to use at first, but it’s easy! Most smartphones come with a pre-installed mobile wallet app, and many financial institutions allow you to add your debit or credit card to these wallets. For Mountain America cardholders, adding a Mountain America debit or credit card to a mobile wallet can be done with just a few clicks.
3.Use credit over debit
If you prefer to pay with plastic, Mountain America recommends using a credit card instead of a debit card. If your credit card is compromised, your checking account funds will remain unaffected while you work through the dispute process. It’s essential to avoid overspending by only making purchases with a credit card that you can afford to pay with a debit card.
Mountain America also advises members to know how to block or cancel their cards when they detect suspicious activity. Cardholders at Mountain America can use card manager to lock and unlock their cards online or in the mobile app. Other financial institutions may offer similar features.
If you see anything suspicious, contact your financial institution immediately. Set up notifications and alerts to notify you of purchases as soon as they occur and keep you informed of your account activity.
4.Be wary of tracking updates and package theft
Don’t be fooled by fake package tracking updates! These typically come as text messages or emails that claim to be from the postal service or a package carrier saying your package is delayed or can’t be delivered, with a link to click to remedy the error. Mountain America advises you to avoid clicking on those links. If you believe you have a delayed package, use the tracking information you received when you bought the item and look it up on the carrier’s website.
Be on guard for package thefts—whether on your porch or in your vehicle. Never leave anything out in the open in your vehicle, especially a purse or wallet. If possible, schedule package deliveries when someone is home or see if you can have them delivered to a neighbor or a secure pickup location like an Amazon locker. If you can’t do that, try to make an area on your porch where delivery people can leave packages, so they won’t be easily seen from the road or sidewalk.
Staying alert and making informed choices can ensure your holiday or any shopping experience is enjoyable and safe. To learn more, visit macu.com or your local branch.
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This article is educational in nature and is not meant to provide any official financial advice.
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