If you lost your card, would you lose your savings?
It sounds dramatic but if you have all your money in one account linked to a debit card, and your card is compromised, you could lose it all. These days, banks can act quickly to reduce the damage but you’re still at risk of losing money. So what can you do to help minimise your risk?
- Keep a low balance in your card account to only cover those everyday expenses.
- Move any extra cash to a savings account like a Bank of us Save Up account which you can access via internet banking or our app but not with a card and then transfer money into your everyday account if you need to make a larger purchase.
- Make sure you have the right account for your needs!
- Do you have a debit card attached to a home loan offset account? Maybe consider removing the card access and opening another account just for your everyday banking.
And remember to keep your card safe!
Got questions? Chat to our friendly Bank of us team
What happens if we identify a suspicious transaction on your account?
Our external fraud team will contact you to discuss the suspicious or fraudulent activity. If they are unable to contact you, we may block your card as a security measure. Read more about Our 24/7 Fraud Monitoring Service.
To update your contact details or request more information about our fraud monitoring service please drop into your local Bank of us Retail Store or call 1300 306 716 (8.30am-5.00pm Monday-Friday).
Please note this information is general in nature and does not take into account your personal circumstances or objectives. You should consider this before acting on any of the information contained.
Bank of us is a trading name of B&E Ltd ABN 32 087 652 088 AFSL & Australian Credit Licence 236870
