Buyer beware! Or in this case, ATM users beware. You may be more exposed than you realise.
Banks don't take responsibility for a crime occurring at one of their ATMs unless you have put a stop on your card.
And little has been done to protect you from the "jammed card" scam despite the rip-off having been around for a number of years.
The scam works by putting a blockage in the ATM which makes you think your card has been swallowed. The thief also watches, through binoculars sometimes, to establish your PIN number.
When you leave thinking your card has been swallowed by the ATM, the thief extracts it and with the use of your PIN number, hey presto - instant wealth for the thief.
As soon as you suspect you have been a victim of ATM crime, phone your bank's toll-free number immediately - it's usually displayed in the ATM booth.
The quicker you do this the better because as far as the banks are concerned you have no recourse if money is removed from your account between the time you suspect that you have been swindled or about to be swindled and when you cancel your card.
Dialling the toll-free number of the bank is the first step you take to stop access to your account. Some banks provide telephones in their ATM areas to enable you to phone immediately if this happens to you.
Standard Bank also provides you with an Autostop card to stop all access to your account.
Banks are attempting to educate people in taking better precautions at ATMs but people still fall foul of the same old scams.
Remember to protect yourself.
HOW TO BEAT THE ATM CROOKS
* Stand as close to the ATM as possible.
* Keep your PIN number private. Access to your account hinges on that number. Not even your bank may request it. If anyone claiming to represent your bank does so there's something fishy going on.
* Don't keep too much money in a specific account. Put some of your money in another account, such as a 32-day deposit, not linked to your PIN number.
* Reduce the maximum daily amount that can be withdrawn.
* Mark the back of your card with nail varnish or indelible ink so you can immediately recognise it and notice if someone has swapped your card without your noticing. A signature usually isn't eye-catching enough.
* Report any incidence of ATM crime to the police and your bank branch.
* Never help a stranger, especially not when they tell you their card "doesn't work". It's in situations like this that card swapping can happen in a flash.
* Once you have completed your transaction keep your slip and make sure you have your card with you.
* Always be aware of people milling around an ATM. If the "crowd pattern" appears unsafe go to a better protected machine.