Last week, we covered how scammers use instant payment apps as a tool for fraud. You can check out that article here.

As we mentioned, it’s important never to send money to anyone you don’t know, especially on an instant payment app. So how can you send money safely to someone you know?

While some people call them old fashioned, credit cards and checks remain a more secure option than many of their digital counterparts. While not free of risks, they have built-in safety measures that can stop scams in their tracks.

The Safety Benefits of Checks and Credit Cards vs. Instant Payment Apps

While checks and credit cards may not be quite as fast as instant payment apps, this is one of the reasons they’re helpful for avoiding scams.

Let’s start with credit cards. Sure, there may be fees associated with transactions that you won’t have to pay on instant payment apps. But the difference is that many cards offer fraud detection services. If you feel you’ve been scammed, you can access dispute channels, pinpoint the transactions, and even potentially initiate a chargeback.

Checks are sometimes considered an antique of accounting and financial practices in our modern digital world. Yet, the paper trail they leave can allow for scams to be stopped before they escalate. Checks can be stopped and voided, potentially eliminating financial losses.

While these methods may not be as fast as instant payment apps, the added security measures make them safer in a world of opportunistic scammers.

However, this isn’t to say that credit cards and checks are without risk entirely. In next week’s post, we’ll cap off this series with part three, where we discuss how even these slower and more familiar payment solutions can be used in scam attempts. And as always, we’ll provide tips on how you can protect yourself. Bookmark us so you don’t miss the conclusion to this series.