6 tips to stay safe while shopping online

Online shopping has become the way to shop. In fact, last year Aussies spent a whopping $48.6 billion in online retail. From cat toys to vintage tees, to the latest cult beauty brand, online shopping has become a new way of life.

As more of us get comfy with online shopping, especially during the busy holiday season, it’s important to stay vigilant – Aussie shoppers lost over $6.7 million to online shopping scams alone in 2021.

Here are six things you can do to shop safely online:

1. Avoid dodgy payment options

All trusted online sellers and stores should offer secure payment options like PayPal, SecurePay, Stripe, Apple or Google Pay (there are more, but these are some of the most popular). If you haven’t heard of the payment option on offer, a quick Google search will help you determine if it’s safe or not.

While ME loves a good second-hand bargain (hello eco-warriors, we see you!) on buy and sell sites like Marketplace or Depop, make sure you use old-fashioned cash on pick up or use a trusted payment platform. 

There is always the risk of items not being delivered, or as a seller, having a buyer that never pays or sends a fake payment or bank transfer confirmation. So, if a seller asks you to transfer funds directly, be cautious – it could be a scam.

2. ‘Tell them they’re dreaming’ – beware of bargain basement pricing

There’s nothing more satisfying than saving a few bucks when it comes to shopping, just ask Darryl Kerrigan. However, if an item is advertised at a price that’s ridiculously cheap and much lower than other online stores, it could be a fake trader.

The product may also be a fake, with mobile phones, concert tickets and sneakers being the most popular items for scammers.

3. Double check social media stores

Thanks to the advertising and targeting available on these platforms, Instagram and Facebook are awesome ways to find things you never knew you needed. But be wary; they’re also a scammer’s paradise. If the store is new, its prices are very low, or there is limited information about the company – do your research. It always pays to search for reviews, genuine customer comments, previous sales and the store’s history – because it may not be a legitimate business.

4. Use a low limit credit card

ME’s Frank credit card puts your safety first. If you suspect suspicious activity, you can put a temporary stop on your card instantly via the mobile app or online banking.

For further peace of mind, the card has extra protection for when you shop online. If you’re with another bank or financial institution, your credit card will most likely offer similar protection – but it’s worth checking just in case.

Having a separate transaction account for online shopping can give you more clarity and control over what you spend. It also means if you do get scammed, it won’t affect your other bank accounts and cards.

5. Get the lowdown on new scams

Not sure what’s legit and what isn’t? It can be hard to tell. From phishing to investment and romance scams, scammers are getting much more sophisticated with ways to take your money. If you want to stay in the know about current scams doing the rounds, just look out for regular communications from ME, or visit the Scamwatch or ABA websites.

6. Check your statements regularly

It sounds obvious, but many of us only check our statements once a month – or even quarterly. By scanning your accounts using internet banking or your mobile app, you’ll notice fraudulent charges sooner and help prevent further unauthorised activity.

While scammers may be getting savvier, fortunately, online retailers and financial institutions like ME are doing more to help avoid and rectify these kinds of security breaches.