Using debit cards

This week, the Office of the Attorney General’s “Consumer Caution Corner” outlines the Federal Trade Commission’s guidance on debit cards.

Debit cards are a way to pay for things. They use money from your checking account at the bank. They can be convenient. But to avoid spending more money than you have, keep track of how much you spend.

How to I choose a debit card?
A bank or credit union usually gives you a debit card when you open a checking account. Compare the services and fees at a few banks and credit unions. Go to the website and/or visit in-person. Find out what the fee is if you:

• have a checking account;

• use a debit card;

• get cash from ATMs at other banks;

• have less money in your account than the bank requires; and

• spend more money than you have in your account.

Compare the answers. Find the bank or credit union that meets your needs.

How can I protect my debit card?
You should:

• keep your debit card number and PIN private;

• do not use your debit card to buy things online;

• if you lose your debit card, report it to your bank or credit union right away. Ask your bank to cancel the card and send you another card; and

• ask for account alerts by email or text message.

This can let you know if your account has less money in it than you think

How can I keep track of my money?
To keep track of your money:

• write down how much money you spend with your debit card;

• write down how much money you take out of the ATM and remember to add the fees;

• use your monthly budget to schedule payments for regular bills;

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• look at your bank statement whenever it comes and make sure it is what you expected; and

• ask your bank or credit union to send you email or text alerts. Some banks contact you if your balance goes below an amount you set.

Each week, the OAG’s Consumer Protection Education Program shares FTC and/or Federal Communications Commission publications that provide consumers and businesses with the “know-how” to identify and protect themselves from unfair trade practices and marketplace schemes.

If you would like to file a consumer complaint, please pick up a form at the OAG (on Capital Hill) or request one by email from consumer_counsel@cnmioag.org. After completing the consumer complaint, please submit it by email or in-person.

We cannot act as your private attorney. If you need legal assistance, we will recommend that you contact a private attorney or legal aid organization. We cannot give legal advice or act as your private attorney.

Michael J. Cyganek (Special to the Saipan Tribune)