MoneyWisdom Blog

Protect yourself from ATM skimmer fraud

Posted by Hanscom Federal Credit Union on Dec 29, 2015 11:41:41 AM

Due to increased security in credit card and Internet transactions, traditional targets of electronic theft, many thieves are turning to other options to steal money, such as hijacking ATMs. This can be done several ways. One popular method involves skimmers. Skimmers are card-reading devices that are attached to the card slots of legitimate ATMs. (Gas station payment terminals are another frequent target of skimmers.) They are not obviously noticeable, and they still allow the ATM to operate normally. When you insert your ATM or debit card, the skimmer reads your card information. When you enter your pin, the thieves capture it with a hidden camera or keyboard overlay device. Then they can put your information onto a blank magnetic card, and use it at ATMs or in stores, or just use your information to shop online, until your account runs out of money.

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Topics: ATM

The Best Way to Avoid ATM Fees

Posted by Maria Porto on Oct 13, 2015 11:06:35 AM

There was a bit of buzz in the banking world this past week about the rising cost of out-of-network ATM fees. And it reminded me — again! — about the benefits of credit union membership. In its 2015 survey, Bankrate.com revealed the average cost of an out-of-network ATM transaction rose 4% to $4.52. This is a fee that our members never have to pay.

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Topics: ATM

What are ATM fees and how do they work?

Posted by Bill Burpeau on Apr 11, 2012 3:35:00 PM

Why would anyone want to pay an ATM fee?  Yet last year more than 7.1 billion dollars were spent on ATM fees across the United States. 

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Topics: ATM

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