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Q: I know that LifeLock protects your credit card, social security, driving licenses, and changes of address. But what about my bank accounts? I had someone steal money from my bank account.
A: LifeLock will alert you if an identity thief attempts to open new bank accounts in your name. Unfortunately, since LifeLock is based on information from all three credit bureaus, it can not prevent or detect what appears to be a normal activity into your existing bank accounts. LifeLock is offering a complementary product, WalletLock, it would help to inform all necessary parties in case your purse, credit and debit cards, license, social security card, insurance card or checkbook driving are lost or stolen.
If your debit card is lost or stolen and you report the loss to your bank within 2 working days, under federal law your liability is limited to $ 50.00 in losses. If you report the loss within 60 calendar days from the time of your bank statement is mailed, your liability is limited to $ 500.00. If a thief steals your debit card number, rather than the current map, federal protections are more generous. Many banks voluntarily offer zero liability policies, like Visa and MasterCard.
Another identity theft protection services that we review, TrustedID, offers additional protection by scanning the black market websites where identity thieves buy and sell stolen data. If you save your numbers credit and bank account with TrustedID, you will be alerted immediately in the event that your account information is found on the black market on the Internet.
For more information on LifeLock, TrustedID and other protection services against identity theft, check out our reviews and comparison chart.