Beware of Debit Card Scams

In 2024, debit cards were the top payment method used in fraud attempts, followed by paper checks, according to a survey by the Federal Reserve Financial Services.¹ Understanding how scammers operate and why they target debit cards is the first step in protecting your finances. 

How scammers commit debit card fraud 

Fraudsters use a variety of tactics to gain access to debit card information. Some of the most common methods include: 

• Skimming. Devices are secretly installed on ATMs or point-of-sale terminals to capture card data and PINs. If you see something out of the ordinary on these machines, do not use them.  
• Phishing. Scammers often impersonate banks or credit unions via emails or texts, urging recipients to verify suspicious activity or update account details—tricks designed to steal card information. If you’re uncertain where the communication is coming from or something appears off, do not click on lins or respond.  
• Data breaches. When retailers or service providers are hacked, debit card information can be stolen in bulk. 
• Card trapping. Criminals physically trap your card in an ATM and retrieve it after you leave. 
• Social engineering. Scammers may impersonate bank or credit union representatives over the phone to extract sensitive information. A recent scheme goes even further: fraudsters convince victims to destroy their debit cards but leave the chip intact, then send a fake “bank representative” to collect the chip and extract the PIN through social engineering—effectively targeting people right at their front doors.² If you’re ever uncertain about who you’re speaking with, do not give them any information. Disconnect and contact GECU directly using our direct line: 513.243.4328. 

Are debit cards protected from fraud?  

Debit cards are attractive to scammers for several reasons. Unlike credit cards, they pull money straight from your checking account, giving scammers immediate access to your cash. Debit cards are also commonly used with PINs. Scammers can use stolen data at ATMs to make in-store purchases without raising red flags. 

How to protect yourself from debit card fraud 

1. Monitor your accounts regularly 

Check your bank account frequently for unfamiliar transactions using your bank or credit union’s online banking or mobile app platforms. Set up alerts for purchases, withdrawals, and balance changes to catch fraud early. 

2. Use ATMs wisely 

Avoid standalone ATM machines in convenience stores or gas stations, which are more vulnerable to tampering. These machines often lack the same security oversight and physical safeguards as bank- or credit union-operated ATMs, making them easier targets for skimming devices or hidden cameras. 

3. Be cautious with your card online 

Only enter your debit card information on secure, reputable websites. Look for “https” in the URL and avoid using public Wi-Fi when making purchases. 

4. Don’t share your PIN 

Never write down your PIN or share it with anyone. When entering it at a terminal, shield the keypad with your hand to prevent shoulder surfing or hidden cameras from capturing it. 

5. Enable two-factor authentication 

If your bank or credit union offers it, enable two-factor authentication for online banking. This adds an extra layer of security beyond just your password or PIN. 

6. Report suspicious activity immediately 

If you notice any unauthorized transactions, contact your bank or credit union right away. The sooner you report fraud, the better your chances of recovering lost funds. 

At General Electric Credit Union, protecting your finances is our top priority. We offer a variety of tools to help you monitor and safeguard your accounts, including Card Controls and secure Online Banking and mobile app platforms to track your transaction history.³ If you ever suspect fraudulent activity, please contact us immediately—we’re here to help you take swift action and keep your money secure.