At Bank of Winona, we cherish our deep-rooted history serving Winona and the broader Mississippi community since 1885, driven by values of trust, security, and hometown care. Today, as payments get smarter and more convenient, so do the tactics of fraudsters.
Let’s talk about tap-in fraud—what it is, how it happens, and what you can do to stay one step ahead.
What Is Tap-In Fraud?
“Tap to pay”? Quick and easy, right? With contactless payments, you just hover your card, phone, or wearable device near a terminal—and complete the purchase in seconds.
Tap-in fraud happens when unauthorized individuals use a stolen, lost, or digitally cloned card to make contactless purchases—often under the no-PIN threshold—before the cardholder catches on.
In some cases, scammers use devices to relay the card’s NFC signal to trick a terminal into thinking it’s legitimate—a technique known as a “relay attack.”
Why Is It Risky?
- Speed over security: Smaller purchases often don’t require a PIN, meaning a thief could rack up charges quickly before you notice.
- Delayed awareness: Contactless fraud can go undetected until your statement arrives.
- Invisible threats: You may not see any physical evidence that your card was compromised.
Quick Tips to Stay Secure
Here’s how you can protect yourself—and how Bank of Winona supports you:
- Enable instant transaction alerts: Setup text or email notifications for every tap-in purchase—any unusual activity goes straight to your attention.
- Use RFID-blocking wallets or sleeves: Shield your cards from silent scanning when you’re out and about.
- Set sensible spending limits: Stay aware of your settings for contactless transactions and consider lowering them if needed.
- Report suspicious activity immediately: If anything looks off—call us. Bank of Winona’s customer-first community support is here for you 24/7.
- Monitor your digital banking: Our mobile banking app gives you real-time access to your accounts, so you can spot unauthorized charges and act quickly.
Why Choose Bank of Winona?
- Local roots since 1885: We’re not just bankers—we’re your neighbors, with over a century of caring for Winona’s financial well-being.
- Hometown values, modern tools: We uphold our traditional ethos while offering digital tools and security to match today’s world.
- Community-minded and reliable: As an FDIC-insured institution and an Equal Housing Lender, we combine trust with inclusivity.
In Short
Tap-in tech offers incredible convenience—but a little vigilance goes a long way. With personal safeguards and Bank of Winona’s dedication to safety, you can enjoy the ease of contactless payments with peace of mind.
Need help setting up alerts or want to learn more about protecting your accounts? Reach out to your friendly Bank of Winona team—we’re here for you, today and for the next 140 years.