A debit card is such an amazing financial tool today with everybody by which you can ease your access to your savings account. It is a form of plastic money where all your bank-related information is stored in the chip provided at the debit card and used while accessing the card at the terminal. There is another type of plastic money in the market in the form of a credit card, but it has distinct features that are quite different from Debit cards. You can access Credit cards and Debit cards in detail through my other blogs.
With the advancement of technology, your bank accounts are at your fingertips making it easy to access anywhere anytime through different platforms like ATMs, Mobile Applications, and UPI. But as access is becoming smooth due to technological advancement, accounts are prone to cyber frauds because of that technology only. Cyber frauds are common these days and the only thing which can protect us from these online frauds is our alertness about our accounts.
Debit Card Tips to secure transactions
Basic Do’s and Dont’s are discussed in detail in my earlier blog on Debit cards, but here are some rules to make you vigil and protect from these cyber frauds here :
Keep Debit Card Safe
Debit and Credit cards nowadays have a chip embedded inside them that contains all your personal information related to banking stored in it. So you must keep your card safe all the time to prevent yourself from any type of cyber fraud. Some debit card tips for the safety of debit cards are mentioned below:
- Sign in the space provided at the backside of the card immediately after you receive your card.
- check the information printed on the card like your name, expiry date, and others after receiving the card from the bank.
- Usually, the bank sends the PIN of the card by a mailer to your registered address so make sure that the post containing that PIN is always in safe hands.
- Never disclose the PIN to anybody
- Never write your PIN on the card
- Keep changing the PIN frequently to avoid fraud
- While using a Debit card at ATM Machines, do make sure that your PIN is not visible to anybody while entering the machine.
- Do check the ATM machine and its surroundings for any privacy leaks.
- Do follow the guidelines issued by the banks from time to time
- Once your card is torn or blocked, do make sure to break it into pieces and dispose of it immediately
In case of fraud
You must check your bank statements regularly and keep an eye out for any hidden charges or fraudulent activities. In case of any suspicion, you should connect to the bank immediately and report the matter. The faster you report the problem, the more likely the chance to avert it. In case of any fraudulent transaction done through your debit card, you must immediately cancel your card so that you can avoid extra charges later on.
If possible use your debit card on the ATM machines of associated banks only, it will smoothen and fasten your process of reporting in case of any fraudulent activity with your bank accounts.
While using Debit Card as ATM
Debit cards are nowadays like your bank in your pocket and you can make transactions online or offline through ATMs. The usage of cards at ATMs is targeted by fraudsters mainly because of the slight unawareness of customers about how to use ATM services. Banks usually make the customers aware on regular basis through available means but frauds are continuously running. So here are some important tips to use your card over ATM services:
⇔ Never ask anybody to assist you in ATM and never allow somebody to do so.
⇔ Check the ATM machine and its premises for any hidden and suspicious gadgets.
⇔ while punching the PIN in the machine, make sure nobody notices it.
⇔ Always dispose of the slip after every transaction at ATM safely
⇔ It sometimes happens that you got debited from your account but money was not withdrawn from the ATM machine, in that case, don’t panic and immediately call the bank and the issue will be resolved for sure.
Debit Card for shopping
A debit card is used for shopping purposes widely nowadays and you can shop online and offline in both ways. So here are some small tips for you to be secure while using your debit card for shopping at a merchant outlet:
⇔ Make sure you got your card back immediately after swiping the card. If possible swipe your card in the machine by yourself and if not possible, do make sure that while entering the PIN extra precautions are taken.
⇔ You must take the receipt after the transaction and immediately tear it off after checking it for the correct amount.
⇔ Swipe your card with the merchants you know or whom you can trust upon.
⇔ You should not allow any salesperson to take your card to different places/rooms for swiping and if it so, you must accompany him or her all the time. The simple point here is that every transaction must happen in front of you only.
⇔ Check your monthly bill statement with the receipts of outlets for any hidden charges levied by the bank.
Additional Debit Card Tips
Nowadays bank sends notification/OTP to your registered mobile number in case of any transaction with your card. It is your prime responsibility to keep your bank updated with your mobile number in use. Someone may misuse the data if the mobile number is not updated. Alternatively, the bank also sends OTP and notifications to your registered Email id as well, so it becomes of the utmost importance to update your email id with the bank as well.
Some debit card offers benefits while checking in hotels while you are on a trip which will help you in booking cheap hotels. So while you are planning a trip, you must have a due attention to these types of rewards as well. One thing that is important to mention here is that some reward points come with expiry dates and you must check the expiry date priorly. If you don’t use the points before the expiry date, you will lose the points.
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