Home

Home

Electronic Fund Transfer

Sharique M. Rizvi

If you decide to use EFT, keep these tips in mind:
1. Take care of your ATM or debit card. Know where it is at all times; if you lose it, report it as soon as possible.
2. Choose a PIN for your ATM or debit card that's different from your address, telephone number, Social Security number, or birthdate. This will make it more difficult for a thief to use your card.
3. Keep and compare your receipts for all types of EFT transactions with your periodic statements. That way, you can find errors or unauthorized transfers and report them.
4. Make sure you know and trust a merchant before you share any bank account information or pre-authorize debits to your account. Be aware that some merchants use electronic processing of your check if you sign a receipt authorizing the transaction.