5 Debit card Tips to explore it efficiently
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 on your fingertips making it easy to access anywhere anytime by different platforms like ATM, Mobile Applications, UPI, Desk visit, and many more. 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 and vigilance about our accounts.
Basic Do’s and Dont’s are discussed in detail in my earlier blog on Debit card, but there are some tips to make you vigil to protect from these frauds are discussed here :
Keep your Information safe
Debit and Credit cards nowadays have a chip embedded inside them which contains all your personal information related to banking stored in it. So you must keep your card safe under your custody all the time to prevent yourself from any type of cyber fraud. Some points are worth mentioning for it:
⇔ 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 PIN to anybody
⇔ Never write your PIN on the card
⇔ Keep changing the PIN frequently to avoid fraud
⇔ While using the 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 leak.
⇔ Do follow the guidlines issued by the banks time to time
⇔ Once your card is torn or blocked, do make sure to break it into pieces and dispose of it immediately
Debit Card Tips to be safe
Nowadays bank sends notification/OTP to your registered mobile number in case of any transaction with your card, so it is your prime responsibility to keep your bank updated with your current 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 the utmost importance to update Email id with the bank as well.
Debit Card Tips in case of fraud
You must check your bank statements regularly and keep an eye 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 is the chance to avert from 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.
Debit card Tips for ATM
Debit cards are nowadays like your bank in your pocket and you can make transactions online over the website of merchants or offline through ATM. Usage of your card at ATM is now a day targeted by the fraudsters mainly because of slight unawareness of customers about how to use ATM services. Banks use intimate customers 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 PIN in the machine, make sure nobody notices it.
⇔ Always dispose off the slip after every transaction at ATM safely
⇔ It sometimes happens that you got debited 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 Tips 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 secured while using your debit card for shopping at merchant outlet:
⇔ Make sure you got your card back immediately after the swiping of the card. If possible swipe your card in the machine by self 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 to whom you can trust upon.
⇔ You should not allow any salesperson to take your card at 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.