Saturday, October 15, 2011

BillGuard - Free Monitoring for your Credit Card Transactions

Growing amount of the financial transactions, people are doing online and through the phone with their credit cards is steadily growing. In parallel, goes up the volume of the financial fraud associated with this kind of activities.  Since credit companies usually safeguard you, and mostly themselves from the money losses associated, the account monitoring is always enabled through the special professional groups. You get alert every time, when the suspicious transaction is noticed, and you have a chance to confirm or reject it promptly.

But, if are still paranoid on the possible negative consequences, or you want to be absolutely in charge of what is going on your credit cards accounts activities, you can add an additional level of security on top of the one, credit companies are already providing. This additional level of security can be spelled as BillGuard.

BillGuard is a free personal finance security service that alerts you to unwanted and unauthorized transactions on your credit card and debit card bills. Here's how it works.

You part is simple and straightforward. You register all your credit cards on the site, and let service to monitor them real time.

BillGuard scans your card activity daily for hidden charges, billing errors, forgotten subscriptions, scams and fraud, and alerts you via email when your attention is required. Each new transaction is analyzed by over 100 automated tests. BillGuard also scours the web for complaints posted by others about similar charges and merchants that appear on your bills.

A scan report is emailed to you monthly, providing a quick overview of BillGuard's findings and an indication of how clean your cards are. Alerts are emailed immediately, giving you the peace of mind to use your cards freely. Reviewing and verifying questionable transactions makes BillGuard smarter
and better at protecting you and everyone else.

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The advantage of having the BillGuard online account is not limited to the monitoring for fraud and illegal transactions, but that will also keep your financial activities all together, helping to located legitimate, but unneeded charges, you may not be noticing, like for 24-hours Fitness you stopped attending, or subscription for American Baby Magazine, started when your teenager son has just been born.

But you want to ask how secure is your data at BillGuard? You do not want to add one more leak source for the private financial information, in any case. BillGuard assures that your data privacy and security is our #1 priority for the service activities, and always will be. BillGuard has been engineered from the ground up to comply with and even exceed the industry's highest security standards for financial data. BillGuard makes money by providing card protection services to banks, so I guess, it is reasonably safe to assume that your data will be safe there.

BillGuard utilizes bank-level AES 256bit encryption for all communications and all data processing is performed on servers isolated from direct access to the Internet. The systems are monitored by our own security staff 24/7 and audited daily by Verisign and McAfee HackerSafe. Regular penetration testing is performed by Security-Art.

Also, when you register a card with BillGuard, you provide site servers read-only access to your credit/debit card statements online. This is required for BillGuard to monitor and protect your card activity daily. Even in the unlikely event that someone would hack into your BillGuard account, they would not be able to transfer money or make any changes to your financial accounts.

BillGuard does not store your credit/debit card account login credentials or ask for any personally identifiable information beyond an email address (for alerts) and your zip code.

Experts agree on the site reliability and safety. Just recently BillGuard got Best of Show at Finovate 2011!

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