Safeguard your ATM with PSBank's ATM Lock Service

Now more than ever, more and more people becoming victims of ATM fraud. In fact, GMA News reports that nearly P400 million has been lost to ATM fraud from 2012 to 2013. One of the ways this can happen is via card cloning or skimming, wherein thieves use hidden electronic devices at the ATM to obtain your card data.

Click on this photo for a better view.

This infographic from the Police Anti-Cybercrime Group shows how your card information may be captured while you're using an ATM machine. There really are certain machines that have been compromised. What's frightening is, thieves nowadays don't even have to physically possess your card to withdraw from your account -- your ATM card can be tucked inside your wallet and they would still be able to get your money.

My daughter actually has her own PSBank ATM Card. We opened a PSBank Kiddie Savers Account for her some time ago so she'll have her own account where she can deposit her savings -- allowances, birthday money, Christmas money, etc. She loves keeping track of how much she has saved on her own. Anyway, since she can't actively monitor her bank account on a daily basis (she's too busy with school), I think she'll benefit a lot (well not just her, us too lol) from PSBank's new ATM Lock Service.

PSBank recently introduced the Lock and Unlock Facility for its ATM cards to provide its depositors with an additional layer of security against ATM loss, theft, skimming, and other forms of card-initiated fraud. Read more »

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