Protection from Debit Card Fraud: Protecting Your Money Together
You may not be aware but debit card fraud is a cost to you, whether you're the actual victim or not. Though the loss doesn't come out of your pocket directly, it costs your credit union more than $100,000 a year that could be used for your benefit and the benefit of other members. When you're the actual victim, you pay twice—in credit union resources and in your time and effort (and paperwork) to recover your money.
The CardNav app helps rein in that thievery. PLEASE USE IT. We’ve made it easy. A one-time set up on your smartphone will help prevent fraudsters from using your card. If you do nothing but turn on alerts so you know when your card is used, you'll make a huge difference. We're all in this together.
“I downloaded CardNav—not because I thought it was that important for me but because the credit union suggested it. It was easy. I entered my debit cards and my husband’s into the app and turned on the alerts for “All Transactions.” This would let me know whenever any of our cards was used. I'd get an almost immediate “ding” on my phone and a screen showing me the pending charge. It was kind of fun, especially when I told my husband I could track his daily travels through his debit card usage. We had a laugh at that!
Then we went to Italy. One night my phone “dinged” three times in a row. I checked my CardNav app and three ATM withdrawals had been made in San Diego, CA. Someone had gotten one of our cards and its PIN and was withdrawing money, as much as they could.
I immediately used CardNav to turn the card off. They tried to use it a fourth time at the same location and were denied. They had drawn the daily limit imposed by the credit union. But they tried again the next day—in two different locations in another state and once in even another state (they must’ve been part of a ring)—but because I had turned the card off, they got nothing more. Just for my comfort, I then turned on an even stronger level of protection on our other cards—“My Location”—which meant no one could use our cards unless they had my cellphone with them.
We didn’t lose any money because the credit union covers fraudulent usage, but it felt really good to stop the thieves. They were stealing—from all of us—and for once I had the power to stop them before they took more. There are even more levels to CardNav and I’m going to learn about all of them.” — Cynthia Sophiea, member since 1977
- Receive near-real-time notifications to alert you any time your card is used
- Turn your card on and off with one touch
- Choose when and where your card can be used, including dollar limits (your phone’s GPS allows you to set limits by location or region)
- Use it as a budgeting tool: turn on the threshold feature, choose types of merchants, control transaction types
- View balances and transactions
- Transfer funds between accounts linked to your card
- Search for nearby ATMs
Watch the video for easy set-up.
If you don't have a smartphone, you can still protect your card when you’re heading out of town, in the U.S. or abroad. Make sure you let us know your travel plans—to keep your card protected and in action.