Debit and Credit Card Receipt Safety Tips for Consumers

Credit card receipt safety is a serious consideration for consumers trying to protect themselves against identity theft and credit card fraud. With modern technology giving rise to fewer cash purchases, proper credit card receipt safety is a vital step consumers can take in protecting themselves against potential fraudsters.

While there are federal consumer protection laws in place, consumers are also advised to take their own precautions in debit and credit card receipt safety. Consumers should keep their receipts close to them, or opt to not get a receipt if it is not necessary.

In these cases, cash may be better to use in the transaction because no personal information is exchanged. Other steps consumers can take in debit and credit card safety include, but not limited to are:

• Carrying debit and credit cards separately in case wallet is stolen
• Notify bank or financial institution if traveling, along with the dates
• Draw line through any blank “tip” spaces on restaurant tickets or other receipts if applicable
• Regularly check balance and financial statements online
• Do not give account number over the phone to company representatives
• Any lost or stolen debit or credit cards should be reported immediately
• Set up fraud alerts with bank or credit union, to flag any suspicious transactions
• Contact bank or credit union if an email states there is something wrong with their account, instead of responding to it in case of phishing scam
• Secure smarthphones and other electronics used for online or in-store purchases

In addition, consumers should be careful with the receipts themselves to prevent anyone from seeing private account information. For this reason, credit cards may be safer than debit cards to use for most purchases. For debit cards, if the account number is listed on the receipt, it leaves the consumer’s primary checking account vulnerable to attack.

Even with consumers taking all these precautions, the chances of debit or credit card fraud and identity theft lowers significantly with the help of businesses. As mentioned before, there are consumer protection laws in place that require businesses to take certain steps to promote debit and credit card receipt safety.

Overview of FACTA Requirements

The Fair and Accurate Transactions Act (FACTA) was established by Congress to help combat the growing problems of identity theft and credit card fraud. Under FACTA, businesses must truncate the card number digits that appear on electronically printed debit and credit card receipts.

This is the process of limiting the card information that appears on a receipt to prevent vital personal financial information from being revealed. Under FACTA, all but the last five digits of the card number must be hidden or replaced with characters, and the expiration date must be completely omitted.

FACTA policy applies to all electronically printed receipts produced at cash registers, kiosks, and restaurant tickets. It is important to note that FACTA does not apply to imprinted or handwritten receipts.

Consumers should check their receipts to confirm if they are FACTA compliant, in order to maximize on their debit and credit card receipt safety. Businesses found to be in violation of FACTA could face civil liability in a FACTA lawsuit.

Free FACTA Class Action Lawsuit Investigation

If you made one or more purchases and the retailer provided you with a receipt that contained more than the last five digits of your credit or debit card number or the expiration date, you may be eligible for a free class action lawsuit investigation and to pursue compensation for these FACTA violations.

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