Update your mobile number with your credit union or bank - it could save $1,000s

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If you’re like me, you hesitate to give your mobile number to businesses as a way contact you. It’s a little more intimate than providing an email address. As landlines fade away, giving your mobile number as your primary contact is a smart move and can save you.

Thanks to the recent Target data breach, fraud algorithms have been tightened down hard. Sometimes this results in the card owner getting denied using their own card when behavior seems ‘out-of character’. Although this is mildly inconvenient, be thankful. Here’s why:

Recently, a member’s card number was compromised and attempted to be used in Minnesota, Florida and a website in Cypress (foreign country) within 15 minutes. This tipped the fraud meter, moved the card to a warm status preventing it from working. Immediately, the fraud department attempted to call the member and confirm if they authorized these transactions. Luckily the correct phone number was on file and we were able to reach the member, and stop the transactions from going through.

In the next 18 minutes, the card was attempted to be used 13 more times in 7 states and 4 other foreign countries denying more than $6,000 in fraudulent transactions. Thankfully, due to a good phone number, the card was closed and crisis averted.

Next time you move, get rid of your landline, or switch mobile phone numbers, don’t forget to update your number on file with your financial institution(s) and credit cards to save you from being a fraud victim and a huge headache.

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Contact Center/Electronic Banking Manager
Shannon has worked as a teller and member service rep before landing in Marketing where her passion for credit union industry was born. Currently, Shannon manages the Contact Center and electronic banking efforts and support. Afterhours, you can find Shannon at home with her husband and two kids spending time on Pinterest looking for new recipes and DIY home improvement ideas – neither of which come to fruition.