Holidays are a busy time for spending and tapping-and-going with your credit and debit card. You’re likely very aware of the guarantees by your bank and credit card company that you’re 100% protected against credit card fraud.
But did you know that most financial institions require you to report that fraud in a timely manor? Many companies only give you 30 or 60 days to notify them, so it’s vital that you scour your bank and credit card statements regularly.
If you’d like to keep ahead of the fruasters real time, consider setting up an email alert. That way each time you use your debit or credit card, you’ll be immediately notified. Then, you can quickly confirm if that purchase was legit or a frauster moving in.
To discover more money traps and how to correct them, get your copy of Talk Money to Me: Save Well, Spend Some, and Feel Good About Your Money in stores across Canada now (Costco, Walmart, London Drugs, Shoppers) and available at Amazon and Chapters.
As the Consumer Advocate for FP Canada, I know that financial literacy is paramount to your well-being. Equally important to your long-term success is working with a qualified professional. To find a CERTIFIED FINANCIAL PLANNER® professional in your area that will help guide you on all matters of money, check out this Find Your Planner tool.
FP Canada is a national professional body working in the public interest (formerly known as the Financial Planning Standards Council). FP Canada is dedicated to fostering better financial health for Canadians by certifying professional financial planners and leading the advancement of professional financial planning in Canada.