Preventing fraud on your bank accounts can feel like a daunting process, but at Merchants Bank, we make it easy. By collaborating with us, you’ll have 24/7 fraud detection monitoring on your debit and credit card accounts and gain access to education on latest fraud alerts and trends. The fight to prevent fraud involves not only our expertise and diligence, but a constant open line of communication with each of our customers.
How does fraud detection at Merchants Bank work?
- We work with our trusted partners, FraudWatch at Elan Financial Services and VISA Falcon Fraud Prevention Services, to monitor fraud trends and detect fraudulent transactions on your debit or credit card accounts 24/7.
- We will call you in the event of a suspicious transaction. You may receive a call from our partners, Elan or Falcon, who will make you aware that the call is being placed on behalf of Merchants Bank.
- When our partners call you they will ask you for some identifying information – such as the last four digits of your Social Security Number. They will never ask you for your full number. If you are uncomfortable and don’t want to speak with our partners, please call your local Merchants Bank office and verify the transaction or let us know that you did not make the purchase in question.
What can you do to prevent fraud? Keep in touch!
- Ensure the Bank has your most up-to-date contact information. Call your local branch if you need to make any changes.
- Contact us before you go on vacation and don’t be shy about sharing the details, for example: dates, exact locations and how we can contact you while you’re gone. If you make purchases in a state or country where you don’t normally use your card, we may think these transactions are fraudulent unless we know otherwise.
- If you forget to contact us before you left on vacation, call a Customer Service Representative at your local branch during your trip to provide the information listed above.
- Contact us if you’ll be making a large purchase that would be uncharacteristic when compared to your purchase history.