Do You Toss Those Bank Statement Inserts?

I usually do, but this time I decided to read it.  And I decided that it contained some useful information worth sharing.

First I learned that my bank account/checks are protected by something called EZShield!  Didn't know that and there's more.

Did you know?  More than 1.2 million fraudulent checks are written each day - more than 13 per second?!  (Office of the Comptroller of the Currency).  Scary!

So here are some helpful tips on protecting your money and your identity.

1. Monitor your accounts and monthly statements to ensure their accuracy.  Surprisingly, many people don't bother to balance their personal checkbooks!  I guess I'm weird that way.  Plus I look at my credit card statements carefully!

2. Each year, order copies of your credit report from each of the three major credit bureaus to verify their accuracy.  This one bit me a few years ago.  One of the credit bureaus combined my credit with the credit of someone whose name was similar (her credit wasn't as good).  Could have been a catastrophe for me as I was in the middle of buying a house, but I did get it worked out.

3. Thoroughly shred documents containing any personal information before disposing.  Think about what is on your bank statement - photocopies of your signature!  Never mind the account number, where you spend money, etc.

4. Never write your Personal Identification Number of your ATM/Debit card.  And never write your Social Security Number or credit card number on a check.  We live in a password-protected society and it's hard to remember all the user names and passwords, but this advice is critical, and I would add that you shouldn't sign up for more credit cards or add PINs to existing cards if you don't need them!

5. Remove passwords, PINs and identification cards containing your Social Security Number from your purse or wallet.  I'm removing mine today!  Yikes!

6. Never put outgoing mail that may contain checks or tax documents in your mailbox at home.  They know where you live!

7. At home, keep a checklist of the critical items stored in your wallet, purse, laptop and/or PDA.  I can tell you that I was scared breathless when I left my laptop at the airport!  (I was one of the lucky ones and did get it back - intact).

8.  Only order from internet sites that use secure methods of obtaining personal account or credit card information.  Duh!

9. Always log off after an online banking session.  No need to elaborate on this tip!

If you suspect your identity has been stolen/compromised:

1. Immediately file a report with your local police.
2. Call the Federal Trade Commission at 1-877-ID-THEFT.
3. Contact the three major credit bureaus to place a fraud alert on your record.
4. Maintain a record of each contact with authorities.

So, that's most of what was on that little piece of paper that was in with my bank statement.  My thanks!