Q: I received a letter stating that my debit card may have been compromised. What does that mean?
A: Debit card compromises occur when unauthorized individuals gain access to your payment card information. This typically means that it’s likely after using your card with a merchant, your card number, expiration date and PIN may have been manually or electronically captured for the purpose of creating a functional counterfeit payment card.
Q: Is this Maui Federal Credit Union’s fault?
A: No – debit card breaches are, unfortunately almost always totally beyond the control of the issuing financial institution. The only way to 100% eliminate the risk of a compromise is to not issue cards. Our members deserve the convenience of debit cards, so we acknowledge the potential for fraud as one of the costs of doing business. We have highly developed security and fraud detection tools in place that give us the ability to quickly respond to fraudulent activity and limit our loss exposure by blocking/closing compromised cards.
Q: How does Maui Federal Credit Union react to compromise notifications?
A: We take every compromise seriously. We require issuance of new cards for affected members. Members may receive a phone call or written notification if their card data has been compromised. Your replacement card will be ordered automatically at no charge to you.
Q: Does this mean that I have fraud on my account?
A: No. It only means that your debit card information has potentially been compromised. Your payment card may be replaced as a cautionary measure. We monitor your account 24/7 for fraud, but we also recommend that you review your account and report any suspicious or unauthorized transaction to us immediately. Online banking, mobile banking and audio response is a great way to monitor your account activity, and you won’t need to wait for a monthly statement.
Q: What do I need to do if I discover fraud on my account?
A: Call Maui Federal Credit Union immediately at (808) 873-5050. After hours, or in the case of a lost/stolen debit card, please call 1-800-472-3272.
Q: What can I do to prevent this from happening again?
A: No one can predict when their debit card will be compromised. We strongly urge our members to engage in online and mobile banking practices to increase overall awareness of the available balances in their accounts. We also have a free CardValet app to help you proactively manage your debit card and help protect yourself against fraud available for download at the Google Play Store and Apple iTunes Store. If there is ever a transaction you do not recognize, please contact us immediately and we will be glad to assist you. If you don’t take advantage of home banking, mobile banking and audio response (1-800-399-4790), be sure to protect yourself by always reviewing your monthly statement(s) as soon as they arrive.
Q: How long will it to take for me to receive a new card?
A: It usually takes seven to 10 business days to receive a new card.
Q: What if I have preauthorized debits made to my compromised debit card number?
A: You should contact the merchant(s) immediately upon receipt of your replacement card, and provide them with the new card number and expiration date.
Q: Can this information be used to steal my identity?
A: The information encoded on your debit card pertains to the card number and expiration date. Confidential information such as Social Security numbers, checking account numbers, driver’s license numbers, addresses and dates of birth are not stored on the card.