The Miracle Of Edd Debit
EDD debit cards have become a popular way for unemployed workers to make their way through difficult times. For one, there is no need to produce a banking statement when applying for an EAD debit card. Another perk is the absence of reporting requirements. This means that even though you might not be having a checking or savings account, EAD offers instant credit to your account. Unfortunately, this does raise some concerns because of fraud.
According to the Federal Trade Commission, EAD fraud is a rising problem and many employers are turning to EAD debit cards for their unemployment benefit program. The problem lies with the fact that these cards are easy to duplicate. If someone copies your debit card information and uses it at a store, they can essentially take your unemployment benefits from your account.
An unauthorized use of EAD fraud can result in penalties of $6,000 and up. These monetary penalties can be levied on the company providing the debit card or on the retailer who provides the card to a potential cardholder. There are also times when the government can seek back taxes that you owe from the person who used the card for the benefit programs.
There are several ways that you can protect yourself against EAD fraud. If you sign up for EAD debit accounts, you should provide a complete and accurate banking and social security number on the sign up form. If you do not provide a banking or social security number when applying for your EAD card, then a processing error will likely result.
Many people work at home, because it allows them to set their own spending limits and earn their benefit without having to report their earnings to the government. For this reason, it is extremely important that you only put money into your EAD debit account when you actually need it. Never let anyone else cash your check or money into your bank account without your permission. Also, be very careful when giving your banking or social security number over the phone or internet. If you suspect that a person is trying to use your information for any reason, then call the appropriate authorities right away.
If you suspect that you are a victim of EAD fraud, then there are some very simple steps that you can take to protect yourself and your EAD card account. First of all, before you give away your EAD debit card, make sure that it is in fact authentic. Look for a “World Wide Web site” that verifies the card and look for a phone number that is attached to the World Wide Web site.
You should also visit your bank and check with them whether you are eligible for EAD debit replacement cards or not. If you are ineligible, then you can try to transfer your balance to an EAD credit card, but you will need to apply for that too. When you apply for a new credit card, you will have to wait for a while until the company gets your application and checks the accuracy of your details. It is highly likely that your details may have been stolen if this was done by a person using your debit details.
Once you have received your new credit card, make sure that you inform your bank. They will then remove the EAD debit component from your account. You can then manage your bank account and withdraw and deposit the money you need. However, you will not be able to make any benefit payments, like making ATM withdrawals, unless you have the funds in your bank account.
Fraudulent Charges Appearing On Bank Of America EDD Debit Cards Of – edd debit
Glitches, Fees Hinder Unemployment Payments – NBC Bay Area – edd debit
California Lawmakers Slam Employment Agency For Slow Payouts KPBS – edd debit
Post a Comment for "The Miracle Of Edd Debit"