You may or may not heard of radio frequency identification (RFID)-blocking wallets. There are countless ads out there claiming that hackers can quickly access your credit card data wirelessly through the swipe of a remote-like scanner as they pass you on the street.

In response, companies are making RFID-protected wallets, jeans, travel bags, purses and even fanny packs. Is the investment worth it? Our educated team at WSCE, your currency exchange in Elk Grove Village did some digging so you don’t have to.

The Percentage of RFID Chips in the U.S. is Small

Rough data estimates that about 26 million out of 550 million payment cards issued in the U.S. in 2016 had RFID chips. You can check to see if your card is an RFID chip; if you see a symbol of radio waves on your card, it’s likely RFID-enabled.

Thieves Don’t Want to Waste Their Time

In order for them to execute stealing your data, thieves have to populate crowded areas of people with RFID credit cards. The odds of this happening are very low. They also don’t want to be caught on closed-circuit cameras nearby. If they’re determined to steal data, they’ll likely take the online route as there’s less risk involved.

Back to Basics

Experts say there will undoubtedly be more RFID credit cards hitting the market in the next few years, but for now, the best thing you can do is pay attention to managing your passwords and checking your credit reports. If you’re still really concerned about being e-pickpocketed, wrap cards or passports in thick aluminum foil; they work as well as most RFID protectors on the market.

Our currency exchange in Elk Grove Village is always ready and willing to answer further questions about RFID security.

Courtesy of: NPR