Online debit card is an improved version of the ATM (Automatic Teller Machine) Card. Debit Card’s usage is similar to that of ATM transactions, to purchase goods and services. The funds are electronically transferred from the individual bank account to the bank account of the business, the transaction is completed.
The checkout stations is equipped with a computerized pin pad system so you may swipe your debit card online and enter four digit PIN (Personal Identification Number) the system automatically verifies your funds status, availability of cash to pay the goods and services. It is a good practice to update your debit account, as the money is instantly deducted from your account on making a purchase-checking out. Do check the account status soon after making a purchase, to avoid inconveniences.
There may at times, occur an error in billing, the sooner you detect it the better, you need to call up the seller for refund. The security of the card is the responsibility of the card holder, in case of loss or theft, the matter must be reported to your financial institution. The theft can occur online, as someone could steal your card number, needs to be reported to the financial institution as well, earlier the better. Keep receipts in a safe place, as it could be a source of information for thieves to make purchases online or over the telephone. Be watchful always as the debit card could be easily misused, you could be the next victim of cyber-theft.
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