Top 10 Tips To Keeping Your Money Safe
Illegal access to bank accounts is one of the fastest-growing financial crimes today. When it comes to Your Money, you and only you should be able to access funds in your name. Be aware that criminals are trying hard to get their hands on Your Money through scams, fraud and theft. Review the “scam” and identity theft scenarios below for awareness of common tricks to obtain illegal access to Your Money.
Here are ten tips to resources that can help you keep it safe….
1: Use your initials not your name on your next check order from the bank.
If someone takes your checkbook, they will not know if you sign your checks with just your initials or your first name, but your bank will know how you sign your checks.
2: “Photo ID Required” on the back of your credit cards.
Don’t sign the back of your credit cards, instead put Photo ID Required. If you have already signed your cards just add this for now and next time leave off the signature.
3: Only use the last four numbers of your credit card number when making your payments.
When you are writing a check to pay on your credit card account, do not put the complete account number on the “For” or “Memo” line. Instead, just put the last four numbers. The credit card company knows the rest of the number, and anyone who might be handling your check as it passes through all the check processing channels won’t have access to it.
4: Work phone number on your checks.
Put your work phone number on your checks instead of your home phone. If you have a PO Box use that instead of your home address. If you do not have a PO Box, use your work address. Never have your Social Security Number printed on your checks. You can add it if necessary, but if you have it printed, anyone can get it.
5: Photocopy the contents of your wallet.
Place the contents of your wallet on a photocopy machine. If you don’t have one at home or work, use Kinko’s it’s well worth the trip if you ever lose your wallet or worse have it stolen. Copy both sides of each: license, credit cards, medical card, auto club card, etc. You will know what you had in your wallet and all of the account numbers and phone numbers to call and cancel. Keep the photocopy in a safe place. I also carry a photocopy of my passport when I travel here or abroad. We’ve all heard horror stories about fraud that is committed on us in stealing a name, Social Security number, or credit cards. Be proactive and make copies.
6: Doctor, Pharmacy and Dentist information.
Next time you are in your doctors and dentist office, or make a trip to your pharmacy pick up 2 business cards. One is for you wallet and the other is to put with your emergency back up photocopies. If your medicines are stolen or lost in transit you will need to contact your pharmacy or doctor to replace prescriptions. It’s also a good idea if you are traveling to write a list of the medicines you are taking if you ever have to replace them or worse are suddenly to sick to tell medical personnel what medicines you are currently taking. Have this information both with you and give a copy to your traveling buddy.
7: Have a 2nd photo identification in addition to your driver’s license.
If you only have a driver’s license you may think that’s all you need for a photo ID. Let me share first hand my story. I lost my drivers license, in Las Vegas, some place on the Strip! The very next morning I had an 8 am flight back to Sacramento. Not to worry…I carry a back up photo ID, a California ID card. It’s easy to get and makes for a great back up if you ever need it to get on a plane home. Now a days, you can’t get on a plane with out one of these valid photo ID’s; Drivers License, State ID card, Valid Passport, Or Military ID. Without a valid photo ID, you are literally GROUNDED!
8: Cancel your credit cards immediately.
We have all been told we need to cancel our credit cards immediately. The key is having the toll free numbers and your credit card numbers handy so you know whom to call. Keep those where you can find them.
9: Use the buddy system.
If you are traveling in the US or out of the country use the buddy system. Photo copy a set of all your wallet contents, both sides, along with a copy of your passport. If you are robbed file a police report immediately in the jurisdiction where your credit cards and belongs where stolen. This proves to the credit providers you were diligent, and this is the first step towards any investigation (if there ever is one).
10: Credit Reporting Agencies you will need to contact.
Call the 3 national credit reporting organization immediately to place a fraud alert on your name and Social Security number. If a smart predator has your information and tries to open a new line of credit by alerting these three agencies your information was stolen, they have to contact you by phone to authorize new credit.
