How to protect your debit card from thieves

debit card swipe - protect yourself from debit card theft
debit card swipe - protect yourself from debit card theft

The issue of debit card security is in the news again as word comes that some Aldi supermarket card readers were tampered with, making it possible for thieves to get both the card numbers as well as customers' PINs. It's a scary prospect, since many of us use our debit cards for everyday purchases like groceries and gas. Here's what you need to know:

According to the Federal Reserve's Regulation E, if your card itself is stolen, report the theft to your bank within two business days to keep your liability to $50. If you wait longer than two days, that liability zooms up to $500 until 60 days after the theft. If you still don't report your card stolen, you're responsible for all the charges on it.