Avoid Fraud: Safe Spending During the Holidays
For most of us, the holiday season is equal parts joy and chaos: Finding the perfect gift, scoring the best deals, and juggling work, travel and family gatherings. Unfortunately, scammers are aware of the hustle and bustle of the holiday season, and count on the fact that our attention is stretched thin.
At The Bank of Southside Virginia, we see the same patterns every year. As spending increases, so do fraudulent attempts to access your money.
The good news? A few simple habits can go a long way toward protecting your finances, identity and peace of mind.
1. Slow down before you click
Look twice before you click once. Phishing scams – texts, emails or calls that look like they’re from a trusted company or even your bank – are getting more convincing. Scammers will often claim your account is “locked,” a package is “delayed,” or that you’ve “won a prize,” all to make you panic and act fast.
No legitimate bank will ever call, text or email asking for your password, PIN or security codes. At BSV, we have all the information we need to assist our customers securely on file. If you get a suspicious message, stop and verify. Call your bank directly using a published number or visit your local branch.
2. Watch for fake websites and “too good to be true” deals
Scammers set up thousands of fake websites mimicking actual retailers – complete with logos and checkout pages that look real.
Before entering payment information, double-check the web address. Small differences from an extra letter to a “.co” instead of “.com” can mean you’re on a scam site. When in doubt, open a new browser window and type the retailer’s official URL in for yourself.
And trust your instincts. If the deal seems too good to be true (say, 80% off the season’s most popular toy), it probably is.
3. Use safer payment methods
Debit and credit cards both include protections to help reduce fraud and limit the impact of unauthorized activity, but debit card issues can put a temporary hold on your checking account funds while the bank reviews the charges. That can make paying bills or making purchases a bit more difficult. We suggest using your credit card as an alternative form of payment.
BSV offers customers the ability to manage their debit card through online banking. Customers can lock their card with a few clicks. Customers can also report a card lost or stolen as soon as they become aware it is missing.
Using a digital wallet like Apple Pay or Google Pay, for purchases can help protect your account information. Your actual card number isn’t shared with the merchant. Instead, your transaction runs through an encrypted system, which means your personal information stays hidden.
4. Avoid gift card and payment app scams
Gift cards make great presents, but they’re also a favorite scammer tool. No legitimate business or government agency will ever ask you to pay them with a gift card. If someone demands payment that way, it’s a scam.
The same goes for peer-to-peer apps, such as Venmo. Once you hit “send,” that money is gone. Those transfers aren’t covered by the same protections as debit or credit transactions. Only send funds through those apps to people you know personally.
5. Stay alert when you’re on the go
Holiday travel means more time at gas pumps, ATMs and hotel lobbies, which are all common places for “skimming” devices that steal card information. Before inserting your card, give the reader a quick tug. If it feels loose or looks tampered with, choose another machine.
Also, let your bank know when you’ll be traveling. Many institutions automatically flag transactions that occur in unexpected locations as suspicious. A simple heads-up can save you the headache of a declined card when you’re miles from home.
BSV offers you the ability to enable purchase alerts through online banking. You can set limits so you can monitor activity, allowing you to monitor and detect suspicious transactions. The alerts can be set via text and/or email.
6. Keep emotions in check
The most effective ploys rely on emotion. Scammers might pose as relatives in trouble, charities seeking urgent donations or tech companies offering to “fix” your computer. Increasingly, artificial intelligence tools can even clone voices from short recordings. If something feels off, stop. Hang up. Verify the story with another source before acting.
Taking an extra minute to think can make all the difference in keeping your money safe.
7. If something happens, act quickly – and locally
Even the most careful person can fall victim to a scam. What matters most is how quickly you respond.
If you notice unusual account activity, contact your bank immediately. At BSV, that means a real person will walk you through every step. We’ll help you secure your account, investigate the issue, and, if needed, issue a new card.
Your best defense: partnership
Protecting you and your money is about awareness, trust and connection – the cornerstones of community banking.
At The Bank of Southside Virginia, we combine advanced security tools with personalized support you can only get from neighbors who know your name.
So this holiday season, shop smart, stay alert and remember: if something looks strange, we’re here to help.
“The Bank of Southside Virginia is a Member FDIC Bank.”