Security Advisory: Security Tips for Your FSMOne Debit Card Spending

As the adage “Cash is King” goes, there are numerous advantages of having a debit card. Ineligible to apply for a credit account? Worried about overspending? Unwilling to take on potential credit risks? No problem. With a debit card, these issues can be easily resolved.Whether you want to shop, pay bills or manage your spending more effectively, a debit card will give you a simple, effective and easier way to use and manage your money.

With the new FSMOne Debit Card (Mastercard), you can now pay for your spending using the cash balance in your FSMOne Cash Account, and protect yourself against the risk of carrying (and losing) cash.

Whether you are getting started in getting a new debit card or just looking to learn a few new security tips, here are some pointers to help all FSMOne Debit Card users stay vigilant and to protect themselves again possible security threats.

1.                 Real-time control to lock your cards on FSMOne

The self-managed card payment control features provide an additional layer of protection for you to safeguard your card account and protect against fraudulent transactions. If you would like to be extra careful, we recommend you to keep your card “locked” when your card is not in use. It takes only seconds to unlock or to lock your card on the FSMOne mobile app. 

2.                 Manage your card spending limits 

Set a card spending limit and monitor its usage to find the right balance between spending and budgeting. If you’re a FSMOne cardholder, you can keep track of your spending in real time with instant transaction notifications.

Note: To safeguard your online shopping experience, your card spending transaction limit has been set at S$500 per transaction by default.

The Spending Limit feature can be used to implement a budget for your spending this month, for example. This setting prevents you from spending more than S$1,000, unless you adjust the spending limit. Additionally, you will receive an instant alert whenever a transaction is blocked due to the preset limit controls. 

FSMOne debit cards offer many other benefits, such as rewards for shopping and Mastercard's real-time fraud protection. Make the most of your card's rewards and benefits by using it wisely. You'll need to use your debit card responsibly to enjoy its full benefits. 

3. Facing payment issues such as declined or incomplete transactions?

The most common reasons for such issues include: a locked card, insufficient balance, incorrect card details, and payments that exceed the preset spending limits.

These are some of the ways that you can prevent such payment issues: You can maintain sufficient balance in the SGD Cash Account which is linked to your FSMOne Debit Card, allowing you to spend from the account directly and also to fund for your trades. As long as you have sufficient cash in the account, you do not need to worry about possible delays in transacting your orders or for your shopping needs. Your cash is safely held with licensed banks in trust accounts. 

Apart from no lock-up periods, no withdrawal penalties, no hidden charges, no transfer limits, your SGD cash account also receives interest. Refer to our Cash Account page for the latest interest rates for the various FSMOne multi-currency cash accounts.

4. Report a Lost or Stolen Card Immediately

If you have lost your card or if you believe that your card has been stolen, don’t panic and log in to your FSMOne app immediately to lock your card. All payments relating to the card will be blocked upon card suspension. If you need any further assistance, get in touch with us at +65 6557 2853 or email clienthelp@fundsupermart.com or you can always contact the Mastercard Global Emergency Services‎ here.

If you believe that your card has been stolen or used fraudulently, you should immediately make a police report. If you have a recurring bill payment on your card, you should also apply for a replacement card and update your card records with your merchant. It is important to report any loss of card as soon as possible in order to avoid any fee penalties from lapsing of payment.

5. Check Your Transactions and Monthly Statements Carefully

Regularly checking your transactions and statements is a good way to keep track of your spending. It is important to review your statement each month to ensure that transactions took place as intended, this can help you identify abnormal transactions, protecting you from fraud. If you spot an unauthorised charge, report it immediately. Review the date, merchant, location and amount to make sure that there are nothing out of the ordinary under “Spending Details”.

6. Update your particulars and turn on notifications for FSMOne Mobile App

Make sure your account information with FSMOne is up-to-date so that you can receive the latest transaction alerts. This includes your mobile, home, office numbers, email address, residential and mailing address, occupation details and marketing options. This way, we'll be able to notify you (via push notifications, email notifications, or SMS) whenever payments or transfers are made with your bank account. Notifications can be helpful in alerting you to unauthorised transactions quickly.

Lastly, never share any of these details: OTPs, passwords, usernames, digital token approval, bank account or card details with anyone.