Wednesday, September 7, 2016

Remind Kids It’s 3 PIN Strikes And Your Card’s Out

ATM PIN Decline

Do your kids know they typically get three tries to get the PIN right when using debit cards?

After three incorrect PIN attempts, most card processors will automatically block the card to protect against fraud. That means all subsequent purchases will be denied — not just PIN purchases.

Talk about a hassle and a panic when your kid needs access to funds in a hurry! To lift the automatic fraud prevention block, the cardholder typically needs to call the number on the back of the card and supply convincing evidence of identity.

I just checked. In the last 30 days, “too many PIN attempts” was the 5th most popular reason for declines among FamZoo cardholders (behind insufficient funds, billing address verification failures, card security code issues, and getting the PIN wrong the first three times).

So, when you get your kid that first bank or prepaid debit card, be sure to set the PIN to something secure and memorable. Though disturbingly popular, 1111 and 1234 are not wise choices! Nor is a birth date. Nor is simple a pattern on the keypad. Nor is keeping your PIN on a piece of paper next to the card in a wallet or purse. Check out some good tips for making secure PINs and keeping them safe here.

Oh, and make sure you kid carries some backup cash too. After all, even the mighty Casey struck out once in a while.

Want to turn these tips into action? Check out

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