I can remember when I started my first job, my grandmother wanted to teach me how to be responsible with my money so we took a trip down to our local bank. Which at the time happened to be First Interstate Bank (a.k.a. Well FargoT). Anyways, so my grandmother and I walk in the bank and we open a savings account.

To demonstrate how long ago this was... They were just starting to issue atm cards at the time and pretty much the only way I could get money out of the account was to go inside and make the transaction with a teller.

That night, my grandmother sits me down and she explains the basics of managing my money and how to save to get the things in life that I really want. She went over how to keep track of my money in the bank and how to post debit and credits in my "passbook".

Now flash forward 20 years, and we have CheckCards, ACH Debits and EFT Cards. All of these things making it even easier to access the money that we should probably be saving. With so many access points to the funds in our accounts it is no wonder ID Theft and Fraud are at all time highs.

In this article we are going to cover some of the ways that you can protect yourself and your money using ATM and/or Checkcards!

Let's face it... the only way to truly protect yourself from fraud is to pay cash for EVERYTHING! You and I both know that this isn't possible due to the numerous places your bills are sent from.

So we have to use other means to pay our bills and transact on a day to day basis. Introducing the amazing CHECKCARD!

The primary way that most people do business is through the use of a "Debit Card" also known as a "Checkcard". A checkcard is basically an ATM card that uses Mastercard or Visa systems to directly debit funds from a checking account or other type of transaction account.

1. Disputes

A checkcard can be one of the best ways to pay for purchases and pay bills even online. This simply due to the speed and efficency that they provide.

Even if some unscrupulous thief gets a hold of the number and uses it illegally, you have a way to get your money back. This is due to the dispute process that is available through the use of the Visa and Mastercard systems.

In another article titled "Why Bank Fees Can Leave You Holding The Empty Bag" we discuss how checking your monthly bank account statements can help you save money on bank fees.

In addition to that you can also catch checkcard charges that shouldn't be on there anyway.

If you are using checkcards you should contact your bank to see exactly what their dispute process is and how much you are liable for is someone gets a hold of your number.

2. Changing the number is easier!

Another way that you can protect yourself if someone happens to uses your checkcard number,or if you have a nagging charge that you just can't get rid of, is simply cancelling the number and getting a new one.

If you see a charge on your statement and wish to stop unwanted activity you can normally call your financial institution and have it cancelled and you can have a brand new number in a matter of days.

It is important to note that recurring subscriptions on your checkcard can sometimes follow the change in numbers. So if you are trying to avoid these the best way is to contact the company directly to cancel the subscription.

3. Active Monitoring

Most banks monitor checkcards for unusual activity. If the system notices purchases that are out of the normal buying patterns it will automatically block your checkcard.

This can sometimes be a huge inconvenience if you happen to receive a large winfall of money and are treating yourself to a well deserved shopping spree. Having your card shut down while you are shopping can leave you embarrassed at the counter.

The flipside to this is if a thief uses your card to also go a shopping spree and the bank doesn't block your card. Now you could possibly be without all of the funds in your account.

If you know that you are going to be doing some extensive shopping your charge a really large purchase to your card, give your bank a call so they can note your account. This can save you the embarassment of having your purchase declined. You may also want to call them if you plan on traveling with your card too.

4. Date and Timestamp

The final safety net of using a checkcard is the fact that whenever a checkcard is used it normally has a date and timestamp attached to each transaction.

This is helpful in catching thieves that have stolen or found your checkcard.

In most cases the crooks will go to a gas station or store where ID is not required to use your card. What most thieves not take into consideration is the use of cameras.

With a date and timestamp it is 10x easier to figure out just who used that card on the particular date at that specific time.

So catching the crooks is really easy.

In my honest opinion I prefer using checkcards over using checks simply because of the options available in the event that thieves or fraud happens on my account.

It is important to know exactly what your banks procedures are in relation to fraud on your accounts. It is better know exactly what to do in the event of fraud so that you can control the amount of damage.

Mosiekk Conley is the editor of the Budget Secrets Newsletter which features helpful and informative articles like this one. If you would like more information please visit the link below. http://www.budgetsecrets.com
editor@budgetingbasics.com