But if you're in the habit of using ATMs a lot --- this is for you, baby!
- Free-standing ATM machines are risky
Clark has always recommended that you only use the ATM machine at your own bank so you avoid paying those pointless fees other banks charge. But now he’s got an even better reason for you not to use rogue ATM machines. Criminals are now buying ATM machines and setting up shop in convenience stores and gas stations. They don’t want them so they can take your money when you use the machine. They want them so they can steal your information and THEN take lots of your money. These days, people can buy a nice ATM machine for the cost of a car and a cheap one for a couple thousand dollars. So criminals are now buying them up attaching a device that reads your card information and code when you punch it in. In one month, one machine can capture the information from thousands of cards. The criminals then take your information and use what are called “card blanks” to withdraw money over and over. One man alone was able to steal $3 million using this scheme. The majority of these free-standing machines are legitimate. But anyone can buy these machines and use them for criminal purposes. You won’t know whether you’re getting money from a legitimate machine or one that is stealing your information. So, it’s best to just leave them alone. The safest place to use an ATM is at your own bank or credit union. The next safest spot is at a bank with a well-known or recognized name.