Debit card accounts can be hacked and the pieces of plastic that represent those accounts out in the world of commerce are just as susceptible to fraud and thievery as their more popular cousins, the credit card.
One very distressing element of the debit card experience can be an unauthorised debit card transaction. This is when a transaction has been made on a card which was not authorised by the debit card holder. It can, however, be possible to get such debit card transactions reversed.
The appeal of a debit card is that the user can avoid spending beyond their means, which is the customary behaviour leading to increased credit limits provided by credit cards. And, just like credit cards, debit cards can now be used almost anywhere in the world, especially cards that boast the Visa or MasterCard logo. [...]
While many debit card users understand that account theft can happen to both debit and credit card customers, there is, nevertheless, an unspoken acceptance among debit users that they are at less risk than credit card customers. It is true that credit cards may carry higher limits and therefore present more opportunity for criminals to [...]
Often it’s tempting to loan a debit card to a friend, complete with pin number, so that a purchase can be made more conveniently. But this can lead to a number of complications and should be avoided as far as possible. As well, banks tend to dislike this practice and there can be trouble if [...]