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266 MG PayPal or Credit Card-Which is Safer?
Hey, Fidelity, what's it cost to invest with the Fidelity app? Start with as little as one dollar with no account fees or trade commissions on US stocks and ETFs. Hmm, that's music to my ears. I can only talk. Investing involves risk, including risk of loss. Zero account fees apply to retail brokerage accounts only. Sell or assessment fee not included. A limited number of ETFs are subject to a transaction-based service via $100. See full list at Fidelity.com/commissions. Fidelity brokerage services LLC member NYSE SIPC. If you've ever felt like the auto repair business is broken, you're not alone. Everybody's over it. From talking down to selling up to car-splaining mechanics, you're just done putting up a BS, bad service. At Midas, we're on a mission to redefine car care, where, get this, we talk to you like a real person, helping you plan for today and down the road. Imagine that. We're driving forward with this in mind. Reroute to Midas, where we're putting an end to BS. Hi, friends. Thanks for downloading the Money Girl podcast. I'm Laura Adams. Before we get started, I want to tell you how to win a signed copy of my book, Money Girl Smart Moves to Grow Rich. You've probably heard of the new social sharing site called Pinterest. It's an incredibly popular virtual pin board, where you can organize and share great stuff you find on the web. Well, I'm having a pin to win sweepstakes, where everyone who pins a Money Girl post will automatically be entered in a drawing for my book, and I have a stack of them to give away at the end of the month. Again, all you have to do to enter is pin a Money Girl post on Pinterest, and I'll see it. But be sure to add a comment on the pin that includes your email, so we can notify you about your prize. A reader named Sarah asks, "I make a lot of purchases online, but I worry about identity theft. Would using PayPal instead of a credit card limit the number of people who have access to my confidential information and keep me safer?" Over 100 million people use PayPal to buy products and services online, but how does it compare to using a credit card? If you've never used PayPal, it's a service that allows you to pay online, using money in your PayPal account, your bank account, or with a credit card. Anywhere a merchant displays a PayPal checkout button. PayPal offers some nice benefits, but using it is no guarantee that you won't become a victim of fraud. Because it's so popular, thieves like hacking into PayPal accounts, just as much as they like stealing credit card numbers. However, it's easy to beat the cyber criminals at their own game and stay safe if you followed these seven tips. Tip number one, treat PayPal like a bank account. PayPal is just like any other financial account when it comes to security. You must review the account activity at least once a month, so you can nip any fraudulent charges in the bud. PayPal notifies you when your monthly statement is ready, which makes it easy to remember to log in and take a look. Many times online criminals won't drain an account by taking one big withdrawal. Instead, they usually begin by stealing small amounts, like $5 every few days. Thieves know that most people are not monitoring their accounts carefully. If you don't refute the charges, a criminal will start stealing larger amounts. Tip number two, don't link PayPal to your bank account. Though paying with a bank account or debit card on PayPal is very convenient, especially if you don't use a credit card, it's not as safe. If a thief hacks your PayPal account, money could be taken directly out of your bank account. Your potential liability for fraudulent charges is different for debit and credit cards. You can refute fraudulent bank charges, but the problem is that you have to catch them quickly in order to get financial protection. On the other hand, if you link PayPal to a credit card and it gets compromised, your maximum liability can never exceed $50. I did a previous podcast called How to Stay Safe from Debit and Credit Card Fraud, which is episode number 258. It gives you more information about your liability for fraudulent charges and what to do if you discover them. Tip number three, use a strong PayPal password. For each financial account that you access online, be sure to create a unique username and password. If you use the same password in multiple places and a cyber thief hacks one of your accounts, you're making it easy for them to get into all of your accounts. Each password should have no less than eight characters and be comprised of uppercase and lowercase letters, numbers, and symbols, like an exclamation point or dollar sign if it's allowed. To learn more, check out the TechTalkers episode called How to Create and Manage Strong Passwords. Tip number four, use a PayPal security key. If you want even more protection, you can use a PayPal security key. You can purchase a physical key for $29.95. That's the size of a credit card and displays random security codes that change every 30 seconds. You have to enter the current key code to log into your PayPal account. PayPal can also send security codes by text message on your mobile phone. This option is free, except for the standard text messaging rates that apply. Once you enable this mobile option, you text PayPal for a security code and then they text it back to you. Cheers to fall at Whole Foods Market with sales through October 29th. Select frozen pizzas are 50% off with prime, so stock up and be ready for game day. Hosting a cozy dinner? There's a sale on hearty no antibiotics ever beef chuck roast and stew meat, or be the best guest ever and bring a robust bottle of Bordeaux wine or specialty cheese like Humboldt fog. Cheers to fall at Whole Foods Market must be 21 or older. Please drink responsibly. September is a great month for planning. We start thinking about the rest of the year, whether it's back to school, big year-end work projects, holiday plans or travel, planning ahead is crucial in life, especially when it comes to what happens when you're gone. Getting life insurance may sound daunting, but policy genius makes the process a breeze. With policy genius, you can find insurance policies that start at just $292 a year for a million dollars of coverage. Some options offer same-day approval and avoid unnecessary medical exams. Policy geniuses technology lets you compare quotes from America's top insurers in just a few clicks to find your lowest price. It's the country's leading online insurance marketplace, and if you ever need help or guidance, they have an expert license support team to answer your questions, handle all the paperwork, and advocate for you throughout the process. It's never too late to plan ahead. Go to policygenius.com or click the link in the description to get your free life insurance quotes and see how much you can save. That's policygenius.com. I love learning and anything that makes learning easier. If you're a parent and your child needs some homework help, then Ixcel is a right for your family. Ixcel is an online learning program for kids covering math, language arts, science and social studies. Ixcel has interactive practice problems for topics from pre-k to 12th grade and everything is organized by grade and subject. As kids practice, they get positive feedback, awards, and explanations for wrong answers. Ixcel figures out what your kids need more help with and recommends more topics to practice. Their videos, lessons, sample problems, and learning games, too. One subscription to Ixcel gets you all subjects and all grade levels. Membership started just $9.95 a month. It's no wonder Ixcel is used in 95 of the top 100 school districts. I think the positive feedback that Ixcel gives is really crucial when it comes to learning. So make an impact on your child's learning. Get Ixcel now and money girl listeners can get an exclusive 20% off Ixcel membership when they sign up today at Ixcel.com/moneygirl. Visit Ixcel.com/moneygirl to get the most effective learning program out there at the best price. 5. Never access PayPal in Public You should never access any website that contains your confidential information from a public computer or an open Wi-Fi connection. There could be malicious software on a public computer that records your keystrokes. Even if you use your own laptop in an internet cafe or library, hackers can track what you're doing on an unsecured internet connection. A thief just needs your PayPal password to access your account, reset your password, and take over. So visit your online financial accounts from a secure internet connection only. Tip #6 Update your computer security Keep your computer updated with the latest antivirus software and security patches to your operating system and internet browser. Remember that if your computer has spyware and you use a financial site like PayPal, a cyber criminal will know your username and password and have easy access to your account without you knowing it. Tip #7 Don't click on links in emails from PayPal Cyber criminals commonly send phishing emails that look like an official message from PayPal but are fakes. When you click a link in the email, you're taken to a dummy website that looks just like the real thing complete with the PayPal logo. If you enter your confidential information on a criminal site, they've got what they need to steal from you. If you receive an email from any of your financial accounts, don't risk getting tricked. Instead, manually type in the website address and log into your account to look for communication from the company. Now let's get back to Sarah's question about whether PayPal keeps you safer. The real answer is it depends because PayPal has advantages and disadvantages. Using PayPal does limit the number of merchants who have direct access to your credit or debit card number while giving you the same credit card rewards. PayPal says they never give your financial information to sellers or merchants and that they protect you from fraud if it's reported within 60 days. However, PayPal is the world's most popular payment system which makes it a big target for cyber crime. That could hurt you if you're not savvy enough to spot it or you don't use a security key. Both PayPal and a credit card offer the same level of protection from fraud if you follow the seven tips covered here and put up a tight wall of security for all your online purchases. For a transcript of this show and to get additional resources, just visit the Money Girl section at quickanddirtytips.com. For more money tips, don't miss the free Money Girl newsletter, the Money Girl Facebook page, or following me on Twitter where my username is @LoraAdams. Thanks again to our sponsor, Shudazzle. Visit Shudazzle.com and click on the microphone in the upper right and use the promo code "Money" to receive 20% bonus savings. And one more thing, remember the pin-to-win sweepstakes, where you just pin a Money Girl post on Pinterest this month with your email and you'll be entered in a drawing to win a signed copy of my book. I'm glad you're listening to Ching. That's all for now. Courtesy of Money Girl, your guide to our richer life. At Credit Union of Colorado, banking doesn't have to be like this. Big national banker here to let you know we are increasing fees. Again, now some people will say they are hidden fees and if I had my choice, I'd hide them. But I guess that's not legal. So for now, please reference line 572 on page 36 for all new fees this month. At Credit Union of Colorado, we have better interest rates, seamless mobile banking, and no hidden fees ever. Credit Union of Colorado, honestly, good. Learn more at honestlygood.org, federally insured by NCUA. At Capella University, learning the right skills could make a difference. That's why our business programs teach you relevant skills you can take from the course room to the workplace. A different future is closer than you think with Capella University. Learn more at Capella.edu. [ Silence ]