There has been a lot of talk about card fraud recently --It’s not surprising given that more than 33 million Americans were victims of card fraud in 2017.
Here are some facts to better understand this persistent issue. Scammers don't give up!
NEVER GIVE YOUR CARD NUMBERS OR PIN TO SOMEONE WHO CALLS YOU. OUCU would not need your account numbers. Register for our new fraud text alerts.
What does card compromise mean?
Card compromise means your credit or debit card information may have been obtained by unauthorized individual(s). To be clear, OUCU’s computer systems were not compromised.
Most compromises involve criminals gaining unauthorized access to a merchant's computer system or from an external skimming device placed on something such as a gas station card reader. Scammers may also call you posing as the financial institution and ask you to divulge card numbers.
Does a compromise mean I have fraud on my account?
Not in most cases. It means your card was used at a merchant that has been breached.
Why are you sending me a new card?
We work to protect your data and to limit losses to the credit union.
Depending on the type of breach, criminals may have obtained your:
• Card number
• Code on back
• Expiration date
• PIN number
How long does it take to get the new card?
New cards should be received within 7 to 10 days of the compromise notice. New cards are sent to the address we have on file.
Can you tell me where my card information was breached?
Unfortunately we cannot; you may receive information from the merchant.
If I get a new card, will the PIN be different?
Yes, you will get a new card number and a new PIN for both credit & debit.
Credit: A new PIN will be mailed separately.
Debit: You will need to set up a new PIN.
For all cards, you’ll need to update any online merchants or billers that use that card number.
What should I do if I have fraud on my account?
If your card has not been canceled already, call us immediately. We will work with you to complete any necessary paperwork and refund any fraudulent charges. As always, Visa debit & credit cardholders are protected from fraudulent activity under VISA’s Zero Liability Policy.
What does OUCU do to protect my information?
Our card processor uses state of the art technology to identify and stay informed of data breaches.
From multi-channel monitoring to highly trained professionals, our processor works around the clock to detect and prevent fraud.
Fraudsters never give up, and neither do we!
This new system allows you to receive automated texts when suspicious activity has been detected on your account on debit & credit card transactions. It's IMMEDIATE and easy!
To set up fraud text alerts:
To register your debit & credit cards, log into online banking and select the "More" tab and under "Card Services" choose "Fraud Alerts".
Remember, you can also set up debit and credit transaction alerts to keep a close eye on purchases.
What can I do to protect my information?
1. SET UP TRANSACTION ALERTS
Receive emails or texts whenever your debit or credit card is used.
In online banking, choose ‘CU Alerts’, then “Add New”. You can set it up to be notified anytime your card is used at an ATM or item is purchase over $.01.
Login to your credit card account; under ‘communications’ select ‘Visa transaction alerts’ and follow the instructions. You may need to “add a new delivery destination” to add a mobile phone number or email (however you would like to receive your alerts).
2. DEBIT CARD LOCK
If you misplace your debit card, or are traveling and concerned about theft, you can now place a ‘usage lock’ on it.
Online Banking: under 'All Services' select "Card Management"
Mobile Banking App: select "Card Management" tile
3. STATEMENT REVIEW
Review your account statements regularly.