Lots of card copying going on out there.. I had my bank card compromised (thankfully they didn't take anything out), and a co-worker of mine just lost $1500 out of his debit account.

T'is the season..  

If you don't already have one, go into your bank and get one of the new debit cards with the chip installed.

Be careful out there!  Those scammers really know how to ruin a Christmas.. that's all I need is losing another $1k at Christmas (like last year)

What happened last year ?

Quoted from mrniceguy

What happened last year ?

Long story short, I got nailed by a scammer for $1k.  It wasn't a very merry Christmas.  See HERE

Anyway, play safe  

NEVER use your debit card outside your own bank's ATM!

use a credit card instead. much better protection

the wife has had her card "potentially comprimised" 4 times in the last 18 months... never lost money, but a PITA when you are out and your card doesn't work.

Our bank got her a new one with the chip, *hopefully* this ends her issues.


Funny enough mine has never been comprimised... as far as i know!

You should also check to see if you have some kind of 'Identity Restoration Coverage' under your house insurance. Most company's offer it now in some form or another (probably as an add on covereage or rider)  and it can save you a lot of potential headaches if your identity is comprimised.
I have a friend who's wallet was stolen from a locker. The thief really did a number on her credit rating after applying for credit cards and loans in her name.

Cash is king. I had my card cloned 3 times last year, and the banks now actually protect the scammers by refusing to divulge where it happens. So in cases where it is an employee that does it, the business doesn't end up going under.

I barely use my debit card anymore... all cash or credit, and I call my credit card company whenever I leave Montreal. They call me regularly on my cell phone when I use my card to confirm it is me, and that is at my own request.

Since then... ZERO issues.

When you use your credit care you transfer the risk to your company and can only be charged $50 (depending on company) I believe if some frauds were to occur.  It is like paypal they take the risk to a certain amount.  Debit cards are like cash and are easy to defeat.  Don't take chances, let others do the risking!

take care

Can someone please explain the point of the chips in the card though? From what I can tell, they serve no real purpose...I haven't seen anything that uses the chip instead of the mag strip.

Chip offers you enhanced security with every electronic transaction. Here's how:

    * A small microchip is embedded in your debit card.
    * This microchip can store and process data securely.
    * The data on the chip is extremely difficult to copy or change, minimizing the chance of debit card fraud.

Combine PIN protection and chip technology for even better electronic transaction security.

http://www.interac.ca/consumers/chip.php

Quoted from ken_cinder

I haven't seen anything that uses the chip instead of the mag strip.

I see them everywhere... from the little corner restaurant to the big stores.

It's about 50/50 of old vs new terminals around here.

For purchases of under $50 you don't even sign you simply insert pin.  You are supposed to insert the card yourself in the machine.  The clerk is not supposed to touch your card this way no chances of swiping somewhere else etc.  All stores are gearing up to this so get use to it, it won't be optional.  More secure etc.

I like it, it works like a charm when people are used to it.

take care

Quoted from ken_cinder

Can someone please explain the point of the chips in the card though? From what I can tell, they serve no real purpose...I haven't seen anything that uses the chip instead of the mag strip.

Lots of places use them ... my guess would be about 20-25% of retailers that I use ... and a fair number of restaurants/bars

Quoted from Sparky

Cash is king. I had my card cloned 3 times last year, and the banks now actually protect the scammers by refusing to divulge where it happens.

This PISSES me off to no end.  Like i said, the wife's card was potentially comprimised, but they won't tell her where, so she can avoid that place.  She doesn't go to all the scary places that i like to go to, so it's obviously a gas station or restaurant...  the only time they got any money from us, the got us AND my inlaw on the same day. we looked into it (we had been together away on a weekend) and realized it was at a Wendy's we both went to.  of course the bank wouldn't confirm, but we don't stop at that wendy's anymore.  Bank happily reversed the charges, but still a pisser that we can't get a confirmation

Use your credit card, put the Debit cards away. Once you enter your PIN number, who knows what can happen. My administrator got burned by the gas station she had been putting fuel for 20 plus years. Some kid attached a device on the debit machine to read pin numbers. There is no one you can trust.

Quoted from HP5P

Use your credit card, put the Debit cards away. Once you enter your PIN number, who knows what can happen. My administrator got burned by the gas station she had been putting fuel for 20 plus years. Some kid attached a device on the debit machine to read pin numbers. There is no one you can trust.

agreed, once you sign the paperwork for a card with a pin number... most times the fine print says
"if the pin was used, it is your fault"  

It is a old school way of thinking, if you did not tell anyone your pin... then you are fine, if you share your pin.. you take a risk. This train of thought pre-dates the "new tech" that reads your pin off the card/intercepts your pin on the way to the reader that scammers use now