According to the Federal Trade Commission, there were 459,297 reported cases of credit card fraud in 2020. This staggering figure raises an important question: Are banks doing enough to keep their customers safe from fraud? Here at Merchants & Marine, we can answer this question with a confident “yes.” Let’s discuss our newest feature that will help keep you safe and sound!
Better Serving You
In addition to the stringent security protections put in place to protect our customers’ data, we’re also continuously adding features to help our clients stay on top of their finances. In the past when a fraudulent charge was suspected, we would send out an automated phone message to the account holder to alert them of the charge. This would give them a chance to check their online banking statement and determine whether the charge was made by them. If they responded that the charge was indeed fraudulent, or if they did not respond at all, we would in turn quickly disable their debit card to prevent this activity.
By popular demand, we’re introducing fraud text alerts. The way these alerts work is if our system detects suspicious activity on your account, we’ll immediately send you a text message stating the charge amount and the merchant where the charge occurred. If the purchase was indeed made by you, you can text us back with a quick “yes” to confirm its validity. On the other hand, if you don’t recognize the charge, you can text back “no” and you’ll be given the option to disable your card. If the text is left unanswered for 15 minutes, we’ll go ahead and place an automated call to your phone to follow up. This incredible feature provides our customers with an easy, simple, and secure way to stop fraud in its tracks.
We don’t just view our customers as our clients: We view them as family. As a member of our banking family, know that our team’s top priority is protecting you, your personal information, and your money from fraud. Contact us to learn more about our new text alerts to stay safe and in-the-know!