Today is one of the most popular tools used for transactions in today’s time, Debit Card.
It is convinient, saves us time and is also good with carrying cash. Yet due to its convinence, we can not understand it as a minor thing, especially when the frauds of the worldwide debit card are increasing.
Repeated debit card holders are becoming victims of these fraudsters. There are 65 million debit card holders in India. According to a survey conducted in 2014, in which 6100 debit card holders took part, it was found that one out of every four bands is a victim of these frauds. And in this count India is on the second number. So how can we keep our debit card and your hard earned money?
Safety practices of the Debit Card
Keep your pin safe
This will be the first step taken by you to protect your debit card from any kind of danger. Protecting your PIN means protecting your money. Do not share it with anyone. Remember your PIN, but do not write it anywhere. And especially, do not share it with anyone on the phone.
There are many cases in which the fraudsters ask you as a bank officer and ask for a PIN. Remember that the bank never asks for your PIN or phone at any time.
Immediately report lost or stolen debit card
You should immediately report your lost or stolen debit card. Go to your bank branch or report to block the card on their toll free number.
Do not waste your time. If you will report it to the bank as soon as possible, the bank will take appropriate actions to avoid any kind of losses accordingly.
Check your email with rules
This is the best way to find out about any kind of suspicious transactions from your debit card. If you use the facility of internet banking, you may receive emails regularly related to this. Keep in mind, however that somebody else does not mess with your email or personal computer. Because this could jeopardize your identity.
Be careful while swiping
When you make payments on POS (Point of Sale – something to buy), keep in mind that you authenticate the transaction by paying the PIN yourself. Wait till the vendor receives the receipt of your transaction confirmation.
Use the Secure Platforms to Make Online Payment
When you buy online goods or services, prefer to use your personal computer or laptop. Keep in mind that you must have a lock symbol and “https” in the URL bar. These are symbols of secure online payment gateway. Apart from this two-tier authentication process is a way to keep your debit card credentials safe. However, if you are using a public computer in a cyber cafe, you will have to take a lot of attention in its time. If you find anything suspicious, it will be good to terminate the transaction process.
Keep SMS Alerts on
This is another great way to sub-account SMS alerts, to track transactions of your debit card. By activating the SMS Alerts service, you will only be able to know about the transactions from your card on your phone.
Protect the card from damages
The magnetic strip behind the card is the most important thing in the card. If it is damaged for any reason, you will be unable to handle the card by swiping it. Keep this thing in mind that you keep it away from the magnetic objects, keep it away from dirt or else do not scratch your hands.
Revive Bank Statement
Keep your passbook updated and keep your account statement in check so that you can know about your expenses. If you find something that seems unauthorized, then report it to the bank quickly.
Other things to keep in mind
It is our own responsibility to look into the security of your money so that we keep our debit cards safe. When we do not take care of ourselves then nothing can happen and at any time can happen. If you follow the practices of protecting all these Debit Cards, then you are sure that you do every possible effort on your part to avoid this fraud.
- Fill your pin yourself. Do not ask a cashier or vendor to fill your PIN.
- When you enter your PIN, use it with your hand so that no one else can see it.
- Keep in mind that the bundle behind you is not doing strange activities.
- Receive your receipt and check it well. Also see SMS notification. Many times the payment may also fail due to technical malfunction. In such a case, it takes 24 to 48 hours to get your money back into your account. If it takes more time, you can take the receipt to your bank and file a complaint of an ATM.
- Being careful is the best way to keep your Debit Card safe. You should report any kind of suspicious activity to your bank whether it is related to ATM, POS, or even in the bank.
Debit card fraud can happen anytime and there is a reality.
You can stop it from happening only if you are financially responsible. And this can only happen if you have complete information about financial things and you will follow those things in your life every day. Take every necessary step and protect your debit card and protect your money.
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