Advances in electronic technology are moving us towards a totally cash-less society. Where we once made regular visits to an ATM to replenish our wallets, we’re making many of those trips less and less. Many banks have closed down their drive-thru lanes due to lack of business.
Of course, those of us raised in a cash-based culture may be a little wary of going cashless. Here are two of the safest modes of cashes transactions:
Contactless Credit & Debit Cards: If your card has a contactless symbol, any time you see a terminal purchase with a matching symbol, you can pay for your purchase without even having to touch the terminal. Just tap on or wave your card at the terminal at the checkout and that should take care of everything.
Is it secure? Yes. Very. Each transaction generates a one-time security code. So even if a hacker could crack that code, it would them no good as the code is already outdated.
Bank Online Bill Pay: Most banks now allow you to make payments from your account by logging on with your computer or using an app you download to your smartphone. Dollar-for-dollar, these type of transactions have one of the lowest fraud rates in the country and, of course, they’re also contactless.
How do I keep it safe? Never store your back account numbers or passwords on your computer. This also means turning down your computer’s request to “remember” your password for future visits. In addition, never share your bank account number over the phone or by email. And watch out for fake websites. Never click on a link in an email. Always type the company’s URL into your web browser by yourself.