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Debit card fraud

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Debit Card Fraud – You could be the next victim Beware of thieves, phishing emails and PIN spying elements. As more and more people prefer debit cards for credit cards, the scope of usage has also expanded increased locations and situations making it rather convenient for people to go swiping their debit cards. Credit cards are not much of a favourite.

The thieves are having a field day, the unaware debit card holders are at a constant risk. There is no better way to avoid it, best is to take necessary precaution. Follow on! There is a difference between a credit card fraud and bank debit card fraud. There are more victims of debit card fraud than credit card fraud. If you are a debit card user pay attention here are a few tips.

A bank debit card fraud occurs when money is removed directly form your account. On needs to all together forget about the money back until the fraud claim is resolved. In case of claims that go in your favour, the entire balance will remain frozen for weeks or months while the investigations continue. If you have immediate bills to pay, you are in a fix! Immediately notify lost and stolen cards. In that case you don’t stand to claim any liability for the unauthorized misuse of the debit card. Compare receipts against monthly statements. Keep track of withdrawals from your account. Store your bank’s phone number in a safe place; come handy in emergencies like card theft, loss or unexpected withdrawals from your account.

Destroy ATM receipts if not needed. Select something unusual when selecting a PIN number.Avoid something obvious. Use ATM in privacy, protecting your PIN number is your right.Visit familiar terminals, well-lit and preferably located inside banks, while using drive-thru machine, ensure your car doors are locked. Do not disclose your PIN number to any soul. Memorize it... Leave the ATM centre after safely tucking up the money and the card back in the wallet. Online Safety is a must, never share personal or bank related information anyone. Avoid mentioning PIN numbers, account numbers in any email content. In case of someone knowing your PIN number, even on a slight suspension, apply for cancellation of the card, or change the PIN number.If you happen to write down the PIN number, do so using symbols, signs or in a scrabbled form.

If any surprise purchase figures in your statement, or a purchase goes unaccounted, it could be a fraud, report the matter to the financial institute. Never lend the debit card anyone In case your card is lost, stuck in ATM machines or an unauthorized transacting, notify the bank or institute at the earliest. Never take a debit card for granted. Debit card is a valuable asset, protect it always. It shouldn’t discourage you from using your favourite debit card. It keeps you free from worries of overspending, unreasonable fees and charges and liberation from interest rate.

Debit Card- plastic card is worth its value in gold!

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