You earn it, you save it, you spend it wisely – now protect it!

– Chad Butler, President

Shedding credit card utilization and any associated accumulating high-interest debt balance is a truly noble accomplishment. However, some people question how they can protect their debit card information if they are not using credit cards, particularly online.  Although debit cards maintain fraud protection available through banks and networks, it is important to stay extra vigilant as fraudulent transactions can take money right out of your account leaving you vulnerable.

Monitor Your Account

The first and most important rule of thumb for all debit cardholders is to monitor your account regularly! Modern apps like Marygold & Co. provide immediate visibility to all your transactions along with customizable notification of transactions. You should not have to wait for a statement to be alerted of a red flag or fraudulent transaction on your account.

Look for a Secure Connection

The second most important rule of thumb is to make sure you never make a financial transaction on an e-commerce site that is not a secure connection.  Make sure you see an “s” in the address like “https://” rather than just “http://.”  You can also look for an unbroken key or padlock in front of the URL depending on your browser.  These indicate your information will be encrypted and is therefore safer.

Avoid Public Wi-Fi

Lastly, do not use public WI-FI connections to make any financial transactions.  Hackers can use public WI-FI to attempt to capture your account information and passwords because it is often unencrypted and insecure leaving you vulnerable to man-in-the-middle (MITM) attacks.  MITM attacks exploit security flaws in networks to potentially intercept data opening you to identity theft.  If you must use a public WI-FI, be sure to use a VPN connection which encrypts the data going to and from your device.

Controlling Your Accounts with Marygold & Co.

You know your spending habits better than anyone and certainly better than your bank.  You should be able to control and protect your account fitting your own personal needs and spending behavior. Not only should you be able to easily freeze and unfreeze your accounts, but you should also be able to freeze and unfreeze e-commerce transactions to only work when you click “submit”.

You should be able to freeze and unfreeze international transactions when you are traveling or buying something abroad.  Heck, if you’re not leaving your neighborhood or ever using your card at night, you should be able to set geographic boundaries where your account can be used or schedule the time of day your account can be used. Marygold & Co. will let you do all of this and more, right from your phone.

The Future of Banking

Additionally, Marygold & Co. will provide you with access to secure tokenized contactless payment options with your debit card, phone, and even associated wearable items like a bracelet or key fob.  All these options will include customizable security controls that help you protect your hard-earned money backed by FDIC insured accounts and advanced mobile banking security technology.

We are not just building another fintech buzzword app for the masses – we are building a customizable super app that enables our discerning customers to protect and control their money the way they prefer.