How to Protect Your Bank Accounts From Identy Theft

Identity theft is the number one crime today and growing. Unfortunately there is no one but yourself that can safeguard against identity theft. Identity theft can be someone using your credit card for purchases or even going to the bank and withdrawing money from your savings or checking account. All a person needs is a phony picture id and a copy of your signature and sometimes that’s not even necessary. Below I have outlined some safeguards you can take to stop identity theft before it gets out of control.

Difficulty: Easy

Instructions

1. You can monitor your credit card spending by setting up mobile and email alerts of your spending limits. Most major bank credit cards have this option that you can set up on-line. If you receive any spending alerts that are not from your purchases immediately go online or call the bank to cancel the card.

2. Monitor your checking and savings account once a day by going on line and reviewing your account activity. Many banks will allow you to set up email and mobile alerts on account activity and spending. Take advantage of these free services and make the most use out of them.

3. Make arrangements with your bank to set up a secret password in your account so if anyone calls the bank and tries to get information or request a credit card, the bank will ask them for the secret password before they process any request. You don’t have to be a victim of identity theft to request this extra protection.

4. Avoid paying bills using your personal checks. Your bank account number and routing number appears on your personal checks and that’s all someone needs to gain access to your bank account. Always pay your bills using your banks on-line checking service.

5. If you own more than two credit cards get rid of them, it just increases the chance of identity theft and makes monitoring them more difficult. There is no need for more than two major credit cards.

6. Always request your free annual credit report from the three credit unions and review them very carefully. Look for any accounts that you did not open and check all your personal information.

7. If you are or become a victim of identity theft, file a police report and learn your rights and what you can do. Also place a 90 day fraud alert by calling one of the three credit bureaus. The other two credit bureaus will be notified by the one you called and place the alert.

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on 9/16/2009 Thank you for this great advise, I always worry about this. 5* recom