Banks recommend PayPal for online card payments

28/12/2011

Banks are closely monitoring credit card accounts during the summer shopping season. Australian Bankers' Association chief executive Steven Munchenberg warns consumers to be careful when shopping both in stores and online.

"They do need to be a little careful when they are using credit cards, when they are shopping online they should only accessing websites they feel they can trust," he says.

"If they are travelling to places this holiday period where they wouldn't normally use their credit card, it's a good idea to ring your bank and let them know it's happening".

"If the bank suddenly sees your credit card is being used in places it's not normally used, that might set off their alerts that there is potential fraud and it will prevent your card from being frozen when it's actually you using it," Munchenberg said.

He says using secure payment sites like PayPal is also a good idea to pay for items when you are purchasing from someone you don't know.

Source: Adelaide Now