What You Need to Know About Credit Card Receipts

Most consumers receive printed debit or credit card receipts after making a purchase, which is either thrown away or kept for record keeping often depending on the amount spent.

However, consumers are being advised to promptly check their printed receipts to confirm that they meet federal privacy standards, by adhering to Fair Accurate Credit Transactions Act (FACTA) compliance.

To meet FACTA standards, the debit or credit card receipts must omit all but the last five numbers of the card on the printed receipt. This process is called truncation, which is meant to fight against the rising problem of credit card fraud and identity theft.

The expiration date must also be hidden on the debit or credit card receipts, in order to protect any other vital personal information.

Due to the present dangers of identity theft and credit card theft, experts are advising consumers to be aware of the information presented on their debit or credit card receipts.

The first thing consumers need to know is that due to FACTA compliance, merchants are mandated to omit almost all the numbers on printed debit and credit card receipts.

However, this does not mean that the consumer is totally safe either, as receipts should still be considered documents with personal and sensitive information.

According to AllClear ID chief investigator Jamie May, identity thieves and fraudsters can still phish for the entire card number with even only part of the debit or credit number available. Other factors consumers should be aware of include:

• Receipt numbers are for the store’s purchase records, which can be useful when confirming a purchase that the consumer does not recognize.
• Store copies and customer copies of debit or credit card receipts are the same, even with most establishments asking for the customer’s signature.
• Consumers should keep their debit and credit card receipts for record keeping purposes.

If consumers cannot get printed or emailed debit or credit card receipts from old fashioned merchants, consumers are probably safer not getting the receipts.

This is because the consumer does not have any control over what happens to the card number after the purchase.

Requirements for Credit Card Receipts

FACTA was established by Congress in 2003, after receiving numerous complaints from consumers who had suffered identity theft and credit card fraud.

Debit or credit card receipts must replace the numbers with other symbols, or just omit the numbers in general. All electronically printed receipts produced by cash registers, self service kiosks, and restaurant tickets must meet FACTA compliance.

Consumers who notice any of their debit or credit card receipts not adhering to FACTA compliance, may be able to file legal action against the merchant.

The damages can range between $100 to $1,000 per FACTA violation, with experts encouraging consumers to be proactive in protecting themselves.

Potential claimants should contact a specialized lawyer, to determine if they are eligible to file 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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