Four tips for debit order safety

One of the things you've probably done to make your life easier is to automate your monthly payments with debit orders. Smart move! Debit orders are flexible, improve your cash flow, and make budgeting easier. Unfortunately, digital processes open the door to criminals and human error. Debit order fraud is a reality. Fortunately, there are steps you can take to reduce the risk of debit order fraud.

Let's have a look at four precautions you can take to stay a step ahead of criminals.

  1. Keep track of your debit orders

    Make sure that you know exactly how many debit orders come off your account and when. If you’ve automated quite a few payments, it might help to make a list of each debit order. You can also set up recurring reminders on your phone or calendar so that you are alerted of the debit order date. This is a proactive way of keeping up with your debit orders.

  2. Activate alerts

    You should also opt to receive an SMS whenever your account is debited. You can also set up notifications on your banking app. Receiving alerts notifies you exactly when your account is debited, so you are aware of unauthorized debit orders immediately and not only when you check your statement.

  3. Check your statements regularly

    Be proactive! Download and check your bank statements on a regular basis and look out for unfamiliar transactions. You can download your statements on the African Bank website or on your App.

  4. Ensure you enter into legitimate contracts

    Make sure that you enter into agreements with reputable service providers that you trust.

Have you heard about DebiCheck?

DebiCheck allows you to stay in control of your money. It has been designed to protect you from fraud and cybercrime — preventing unauthorized debit orders from bleeding your account.

You can find out more about DebiCheck here.

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