If you were making a payment, you may have to make arrangements to make another payment to prevent late fees or interest.īe forewarned: Processes for returning fraudulently lost money to bank accounts vary by institution, and some timelines are lengthy. Then file a police report and contact the person or business that was meant to receive the check. If you suspect a check has fallen into the wrong hands, call your bank right away. The smaller your checking account balance, the less money that can be accessed by someone forging a check against your account. One last safeguard: Keep enough funds in your checking account to pay the bills, but put the rest elsewhere, such as a linked savings account. That way, if too much time has passed and the recipient hasn’t gotten the check, you can place a stop payment, Miller suggests.
If you’re sending a check to someone, ask them to let you know once they receive it. You can also write your checks using a black gel ink pen to make it harder for criminals to wash your checks (the ink soaks into the paper). Postal Service, send your payment in a security envelope and take it directly to the post office, bypassing mailboxes and mail carriers. “They do accept checks and provide a tracking number,” Miller says. If it’s a big payment, consider using a shipper like UPS or FedEx. If you must send a check, take steps to lower the chances of financial mayhem. “You have a lot more protection globally with a credit card, if you’re traveling internationally, or if you’re buying things online,” says Derek Miser, an investment adviser and CEO at Miser Wealth Partners in Knoxville, Tennessee. “Just make sure you are calling the correct number for the utility or medical provider.”Īnd in general, experts recommend using credit cards to transact, whenever possible. “Paying by phone via the IVR - interactive voice response - or a live customer service representative is definitely a preferred option,” Miller says. Working with a vendor that doesn’t offer an easy way to pay online? Call and ask if you can pay over the phone. “There’s really no need to be writing checks today,” Bruemmer says. If you’re paying individuals, ask if they’ll accept electronic payment through PayPal, Venmo, Zelle or another cash app. “In fact, some medical providers, like One Medical, have a very nice option to pay from a mobile app along with all of your medical information. “We are beginning to see more online options,” Miller says. Check your statement for online payment instructions, for example.
Look for ways to pay your bills that don’t require using the mail. Here are some steps to keep yourself safe from check fraud - and what to do if you’re a victim. “That can take all the money out of your account at once.”įederal News Network's Workplace Reimagined: Are you ready for success in a hybrid world? Join us August 28 to hear federal and industry human capital and technology experts share advice, tactics and success stories about thriving in a hybrid world. “It’s absolutely a life disruption event when you mail a check and it’s been intercepted,” says Mary Ann Miller, fraud and cybercrime executive advisor and vice president of client experience at consumer identity company Prove. And then it can take weeks to get the funds back. Postal Service is vulnerable, and thieves who can access your checks can change the amount and ferret those funds right out of your bank account. “Fraudsters just went back to tried-and-true potential attack factors that seemed to be working,” says Michael Bruemmer, head of global data breach resolution for Experian. This is partially due to the effects of the pandemic, when thieves targeted government relief checks in the mail. And letter carrier robberies are also on the rise. But are you returning payments to medical providers and insurance companies in the mail? Paying by check for the random parking ticket or your child’s piano lessons? Now is a good time to stop: Check fraud tied to mail theft is up nationwide, according to a February alert from the Financial Crimes Enforcement Network. Sure, you’re probably not using paper checks for most things.
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