By Dave Pagenkopf
I was victim of credit card fraud three times with my card number stolen at Home Depot, Target, and an online concert ticketing site. Although my credit card company made me whole every time, it was a hassle to get all my automatic payments updated with the replacement card.
What if that fraud happened on my other accounts?
One of the features I use now on all of my financial accounts is notification when a transaction is posted to my account. For instance, I get an email any time charge is made with my credit card that includes the amount, vendor, and time of the charge. I can set up similar notifications for my debit card, checking account, and brokerage account. Using these alerts I will know in seconds or at most minutes that some fraud is occurring and I can disable my accounts quickly.
Many financial institutions offer this free service, though it may sometimes take some time to find the right settings. The peace of mind is worth it.