How to Use a Debit Card Safely and Securely
Debit cards have become a crucial tool for managing finances in today's digital world due to the ease of online shopping and contactless payments. As a result, they have become a preferred payment method for many individuals.
Nevertheless, the convenience that debit cards provide comes with the risks of fraud and identity theft, emphasising the importance of using such cards securely and safely. Read this blog post to learn some tips on how to avoid debit card fraud and maintain the safety of funds.
Four Tips to Keep a Debit Card Safe
Using a debit card safely and securely requires some effort and caution on the cardholder's part. Here are some tips that will help protect a debit card against fraud and unauthorised use:
1. Protect the PIN
To ensure the safety and security of a debit card, safeguarding the personal identification number (PIN) it carries is crucial. Cardholders are recommended to memorise their PIN instead of writing it down or storing it on an electronic device.
In addition, when creating a PIN, one should avoid using simple and easily guessable numbers such as birthdates or phone numbers. Plus, it goes without saying that sharing one’s PIN with anyone, even individuals claiming to be bank representatives or law enforcement officers, should never be done.
Federal Bank strictly prohibits the sharing of PINs through phone calls or emails. The bank also recommends that cardholders change their PIN regularly to prevent fraudsters from accessing their data.
2. Monitor Transactions
Regularly monitoring the transactions on a debit card is critical to safeguard it against fraudulent and unauthorised use. By frequently reviewing account activity, cardholders can promptly identify any suspicious or unauthorised transactions and take the necessary steps to prevent losses. Federal Bank advises cardholders to watch out for unfamiliar fees or charges on their debit card and to report these issues to the bank immediately.
3. Avoid Phishing Scams
Phishing scams are a popular method used by fraudsters to steal personal and financial information from cardholders. These scams often involve sending unsolicited emails, text messages or social media messages that appear to originate from a legitimate source such as a bank or retailer to deceive individuals into revealing sensitive information.
It is advisable to exercise caution when receiving such fraudulent emails and messages, especially those that request sensitive details such as debit card numbers and PINs. Cardholders must note that financial institutions never request such confidential information via email or text messages.
4. Be Cautious
Online shopping has now become common, but exercising caution is critical to avoid falling prey to scams. Cardholders should only shop from trustworthy websites that have a good customer reputation. When making an online purchase with a debit card, it is advisable to use a secure payment method that provides added fraud protection.
Using one’s debit card safely and securely requires a combination of awareness, caution and proactive measures. By following these tips, cardholders can protect themselves against fraud and scams. Remember, taking a few simple precautions today can save a lot of trouble and money in the long run.
Federal Bank offers a range of secure banking solutions and services including two-factor authentication, online and mobile banking with advanced security features, and 24/7 fraud monitoring.