Top 10 places you should never use your debit card
(1) Consider avoiding debit card use online
Some consumers choose to only use credit cards online since a fraudulent credit card transaction will take more time and can become an item of dispute rather than an instant removal of cash from your checking account.
(2) Restaurants
Restaurants are one of the few places where you have to let cards leave your sight when you use them. A form of high-tech financial fraud, is on the rise worldwide. It relies on sophisticated data-reading electronics to copy the magnetic stripe information from your credit card or debit card. It can capture both your credit card number and your PIN.
(3) Petrol pumps
Petrol bunks are high risk for debit card users. Gas station terminals have many characteristics that fraudsters love. The lack of supervision in the pump station, make it easy for fraudsters to place skimming machines.
(4) When you’re a new customer
Whether online or in the real world, if you're a first-time customer in a store, skip the debit card the first couple of times you buy. Only once you’re familiar with the store and are assured there is no foul play should you use your debit card
(5) Expensive items
Incase of purchasing heavy duty items like a washing machine or a car it’s best to pay using a credit card. A credit card offers dispute rights if something goes wrong with the merchandise or the purchase. Also, some credit cards offer attractive discounts on purchase of consumer durables.
(6) Making reservations at hotels
When making hotel reservations for future travel it maybe best not to part with your debit card information.
(7)Security deposits
When making security deposits while buying items on EMI it would be best to use your credit card instead of the debit card. That way, the store has its security deposit, and you still have access to all of the money in your bank account.
(8) Buy now, take delivery later
This one of course is a no brainer. In case you’re buying now but taking delivery days or weeks from now? A credit card offers dispute rights that a debit card typically does not.
When making security deposits while buying items on EMI it would be best to use your credit card instead of the debit card. That way, the store has its security deposit, and you still have access to all of the money in your bank account.
(9) Online transactions
While entering your debit cards details online; do remember that debit cards are directly linked to your bank accounts and all of your information is a sitting duck for online hackers to pry into and use.
Find out how to keep your debit card transaction safe
While many consumers choose to use a debit card in order to avoid accumulating credit card debt, they may not be aware that they could lose more of their hard-earned cash through debit card fraud than if they had used a credit card for a purchase
Many banks have improved their debit card protections for their customers, and will go beyond the above rules and not make consumers responsible for any charges deemed to be fraudulent, especially if they report the unauthorized transactions as soon as possible. Here are some rules for keeping your debit card safe:
(10) Create your own security profile
As long as you remember the answers, you can make up anything you want for your security questions. Using a pet's name or your mother's maiden name makes it too easy for cons to get into your account. The answers just have to be consistent, and not necessarily truthful.
Whether online or in the real world, if you're a first-time customer in a store, skip the debit card the first couple of times you buy. Only once you’re familiar with the store and are assured there is no foul play.
(1) Consider avoiding debit card use online
Some consumers choose to only use credit cards online since a fraudulent credit card transaction will take more time and can become an item of dispute rather than an instant removal of cash from your checking account.
(2) Restaurants
Restaurants are one of the few places where you have to let cards leave your sight when you use them. A form of high-tech financial fraud, is on the rise worldwide. It relies on sophisticated data-reading electronics to copy the magnetic stripe information from your credit card or debit card. It can capture both your credit card number and your PIN.
(3) Petrol pumps
Petrol bunks are high risk for debit card users. Gas station terminals have many characteristics that fraudsters love. The lack of supervision in the pump station, make it easy for fraudsters to place skimming machines.(4) When you’re a new customer
Whether online or in the real world, if you're a first-time customer in a store, skip the debit card the first couple of times you buy. Only once you’re familiar with the store and are assured there is no foul play should you use your debit card
(5) Expensive items
Incase of purchasing heavy duty items like a washing machine or a car it’s best to pay using a credit card. A credit card offers dispute rights if something goes wrong with the merchandise or the purchase. Also, some credit cards offer attractive discounts on purchase of consumer durables.(6) Making reservations at hotels
When making hotel reservations for future travel it maybe best not to part with your debit card information.
(7)Security deposits
When making security deposits while buying items on EMI it would be best to use your credit card instead of the debit card. That way, the store has its security deposit, and you still have access to all of the money in your bank account.(8) Buy now, take delivery later
This one of course is a no brainer. In case you’re buying now but taking delivery days or weeks from now? A credit card offers dispute rights that a debit card typically does not.
When making security deposits while buying items on EMI it would be best to use your credit card instead of the debit card. That way, the store has its security deposit, and you still have access to all of the money in your bank account.
(9) Online transactions
While entering your debit cards details online; do remember that debit cards are directly linked to your bank accounts and all of your information is a sitting duck for online hackers to pry into and use.Find out how to keep your debit card transaction safe
While many consumers choose to use a debit card in order to avoid accumulating credit card debt, they may not be aware that they could lose more of their hard-earned cash through debit card fraud than if they had used a credit card for a purchase
Many banks have improved their debit card protections for their customers, and will go beyond the above rules and not make consumers responsible for any charges deemed to be fraudulent, especially if they report the unauthorized transactions as soon as possible. Here are some rules for keeping your debit card safe:
(10) Create your own security profile
As long as you remember the answers, you can make up anything you want for your security questions. Using a pet's name or your mother's maiden name makes it too easy for cons to get into your account. The answers just have to be consistent, and not necessarily truthful.Whether online or in the real world, if you're a first-time customer in a store, skip the debit card the first couple of times you buy. Only once you’re familiar with the store and are assured there is no foul play.
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