Can My Identity Be Stolen Using Information On My Bank Check?

After I had signed up for my 12th credit card, I needed a spreadsheet to keep track of all of them. I needed a document that included all the due dates of each of the credit cards. There’s no way I would be able to remember without writing them down somewhere. So now that each of these credit cards billing cycle is coming to and end, I had to link my accounts to my checking account so I can easily make payments online. The process for doing this was very simple. All I had to do was get my checkbook out and enter the bank name, bank routing number, account number, and my name on my bank account and it would be linked almost instantly. Some accounts required 3-4 days to confirm that account. Then it got me thinking. I could have entered anyone’s information and it would have worked! If I had a copy of someone’s check, every single piece of information required to link it to my credit card account is on the check!

Will this work? Can someone else use one of my voided or used checks and steal my money, or even steal my identity? The quick answer is YES, but it’s not likely.

Although only a few information is required to link your checking account, they do go through a series of account verification process which may include permanent address, social security number, and date of birth among others. Since your credit card company and your checking account issuing bank already have this information, the process of verification and confirmation will be easy and quick. Sometimes, in addition, the credit card bank will make two small deposits to your bank account to verify that it is indeed your bank account you’re trying to link to. They will take away the two deposits after the bank is verified and confirmed.

Avoid Identity Theft
Identity thieves make a living by stealing personal information from people and using that information to open new credit or to make loans. If they get access to your social security number, name, address, and date of birth, then they can steal your identity. Over 10 million Americans every year are victims of some sort of identity theft. So be cautious with your information and make sure you just don’t leave them anywhere. To avoid your identity from being stolen, follow these steps always:

1. Opt out of paper statements. I like to do all my banking online and opt out of paper statements. That way, I don’t have any paper trail of any documents that could expose my personal information. I just look at them online and be done with it. If they send me documents, I either store them away securely or shred them completely.
2. Get free credit report every 4 months. There are three major credit bureaus and every person is allowed one free credit report from each of these bureaus every year. For example, you can request one free report from Experian in January, Equifax in May, and TransUnion in September and repeat this process every year. Make sure there aren’t any unusual account openings in each of the reports.
3. Never click on email links. Phishing scams are become ever so popular and it’s gaining in popularity because it’s working. Scammers are becoming more clever to entice you to give them your information. When you receive an email from your bank or credit card or any other personal accounts, and they ask you to click on any link, don’t do it. Always type in the URL directly using your browser.

Avoid Credit Card Fraud
Thieves are also stealing through credit card frauds. By definition, if an unauthorized user is using a credit card that does not belong to them, they are committing a credit card fraud. If a transaction is made using your credit card and you did not authorize it, it’s credit card fraud. Follow these tips to avoid becoming a credit card fraud victim:

1. Only carry 2 credit cards with you at any given time. I have 12 credit cards and if I carried them all in my wallet and lost my wallet, then I would find myself in a nightmare situation. Someone had left their wallet at my church this past Sunday, with driver’s license and 5 credit cards. No one knew who he was and I’m not sure whether he recovered his wallet or not, but I’m sure he is/went through hell because of it.
2. Don’t peel off the activation sticker. If your wallet is stolen and the thief sees the activation sticker on the credit cards, the chance of them not using the credit card is increased. It’s not foolproof but it could act as a deterrent.
3. Check your accounts regularly, at least once a week. Sometimes, when a credit card is lost or stolen, the victim doesn’t realize it until it’s too late. When I lost my two credit cards at once one day, I didn’t know until I received a fraud alert phone call from both my credit card companies. Check your accounts regularly and make sure there are no unusual transactions made. Sometimes, thieves will make small transactions to make sure the account is still active before making big ones.

Were you once a victim of identity theft or credit card fraud? How did you handle it?

MoneyGreenLife.com was featured in the following carnival: Yakezie Carnival – Credit Cards Edition

Tagged as: credit card fraud, credit score, identity theft