Options to Protect Yourself from Fraud

Picture this. You mail a check to pay your electricity bill. Later, see a larger amount withdrawn from your account for something else. Unknowingly, someone took your check from the mail, erased the original information, and cashed it in their name. This is how check washing works, and it’s happening to more and more people every year. 

Check washing is a form of fraud in which thieves steal filled-out checks. After using chemicals to erase the ink, they rewrite the checks to themselves for a much larger amount. Due to its low-tech, less-traceable nature, check fraud has surged in recent years, resulting in billions of dollars in losses annually. 

Your best line of defense? Other ways to pay.
 

Safer Ways to Pay Your Bills

Thanks to technology, you’ve got many alternative ways to pay instead of using checks.

Directly Through Biller’s Website: Most utilities, insurance companies, and even medical providers offer free online payment portals. Log in, link your account, and pay directly (and, when possible, automatically!) from your account or with your debit or credit card. 

Bill Pay in Online Banking: Our Bill Pay feature lets you schedule one-time or recurring payments to virtually any payee. Easily set up in Online Banking, payments are sent electronically whenever possible. It’s free, convenient, and keeps you in control.

Account-to-Account Transfers: If you’ve got loans and checking accounts at different financial institutions, an external transfer is your new best friend. You can easily link your external account through Online Banking and schedule payments electronically, whether at BHFCU or elsewhere.

Zelle^® for Personal Payments: Zelle^® is a fast, free way to send and receive money from your people. Instead of sending a check in a birthday card, safely schedule a birthday transfer for the big day! Because money moves straight from account to account in minutes, it’s imperative that you only use Zelle® with people you personally know.
 

Time is Money

If you suspect a check has been washed and fraudulently cashed, time matters. Take these steps right away:
 

• Report it immediately at uspis.gov/report or call 1-877-876-2455
• Contact BHFCU or the financial institution associated with the account immediately
• Consider placing a fraud alert or credit freeze

If something looks off, don't wait. The faster you report it, the better chance of mitigating the damage and keeping your information and money safe. You’re not alone. Our dedicated fraud team is focused on one thing, keeping your information and money safe! If something looks fishy, they’ll investigate right away. 
 

Bottom Line: Stay Alert

Preventing check fraud isn't complicated, but it does require some attention. Keep your checks safe, watch your accounts regularly, and utilize other payment options to mitigate your risk!