The Risk of Debit Cards

stack of multicolored credit cards on black background

by Andrew Moll
Source: Adventist Risk

As financial stewards, we must be cautious of the resources entrusted to us in our church ministries and how they are used. This includes taking steps to prevent fraud and embezzlement. Many churches are now using debit cards in their ministries. If you are doing this, it’s essential to understand the risks and take the correct steps to prevent losses with their use.

The Federal Reserve Bank’s 2019 Diary of Consumer Payment Choice highlights that in 2018 a debit or credit card was used for 51 percent of financial transactions, while cash or checks were used for only 32 percent of transactions. The prior year Continue Reading…

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