Safeguarding Your Accounts with Our Debit Card Fraud Protection
No matter how attentive you may be to your financial records, culprits can sometimes still find ways to use your debit card information to make unauthorized purchases. It can happen at the grocery store, the gas station, the local shopping mall or any other merchant that you visit - it can happen to you.
At the Institution for Savings we are committed to safeguarding our customer's funds. Our Debit Card Fraud Protection Program monitors your Institution for Savings ATM/VISA® Debit Card activity and notifies us, and you, of any suspicious transactions.
Here's how it works:
Our fraud system continually monitors the transactions of our customers. If an unusual or potentially fraudulent transaction is identified (for example, you make an unusually large purchase at a store where you don't typically shop), you will be contacted by email, text or phone to first confirm “fraud” or “no fraud” by our automated system. In the event you confirm fraud you will speak to a Fraud Protection Analyst. If you cannot verify the transaction or if we cannot reach you, your card will be blocked from future transactions until we can verify the validity of your transaction.
Some important things to remember:
- Our fraud protection analysts or automated system will never ask you to give out personal and confidential information over the telephone. You will be asked to verify recent transactions and ask you to provide your billing zip code. If they cannot reach you they will leave a message with a return callback number for you to call as soon as you are available. You may be contacted between the hours of 8AM and 9PM via phone, 7AM-9PM via text and 24/7 via email.
- If it is determined that a transaction on your account is legitimate, no action will be taken. If however the transaction is confirmed to be fraudulent, a block will be placed on your debit card.
- In the event you confirm fraud to the auto attendant, on the phone, your call will be directed to a Fraud Analyst.
- In the event your confirm fraud via email or text you will receive a phone call from one of our Fraud Analysts.
- It is imperative that we always have a current email, cellular and home phone number for you on file here at the bank so that our Fraud Protection Analysts can reach you promptly in the event of any suspicious activity.
- If you will be using your debit card while traveling, please contact us to let us know the dates and destination, so that we can provide this information to our Debit Card Fraud Protection Center to prevent your card from being blocked due to "out of the ordinary transactions."
As always, please call us at 978-462-3106 or 978-356-3600, or email us with any questions or concerns.