Despite a continued decline in check use, paper checks remain one of the payment system’s most persistent fraud vulnerabilities. In fact, paper checks are 16 times more likely than electronic fund transfers to be lost, stolen, altered, or returned undeliverable, according to the U.S. Department of Treasury.
Criminals are becoming more sophisticated and finding new ways to steal your hard-earned money, which is why Bank Five Nine is committed to helping you learn to use checks safely.
Here are some tips to protect yourself:
- Use Permanent Gel Pens: Use permanent ink when you write a check to lock your information in place and protect yourself. Don’t have one? Bank Five Nine offers gel pens at all our branch locations.
- Avoid Blank Spaces: Make sure you fill out every blank space on a check so criminals can’t fill them in instead, particularly the dollar amount box and line for long-hand dollar amount.
- Withhold Personal Information: Don’t add personal info to your checks like driver’s license number or phone number.
- Review Accounts: Monitor your account activity online or in our mobile app. Regular reviews ensure you quickly notice anything out of the ordinary.
- Check Your Checks: Reviewing your paid checks online and in our app is easy and should be done regularly. Ensure the endorsement, intended payee and amount listed are correct.
- Use Digital Payment Options: Consider switching to Bank Five Nine’s payment app or online bill pay for fast and secure payments.
- Follow Up: For extra peace of mind, make sure to follow up with payees to confirm they’ve received and deposited your check.
For more tips, resources and videos on how to Practice Safe Checks, visit PracticeSafeChecks.com.
