Whether it is online, at an ATM or through a lost or stolen card, fraud can wreak havoc with all of your card accounts.
In fact, with less strict approval criteria for debit cards, they could be even more at risk than their credit counterparts.
While both processors and banks offer protection and zero liability policies to reduce the chances of us losing money, it never hurts to play an active role in fraud prevention.
With this in mind, we have come up with five of the easiest things you can do to keep your card safe in any situation.
- Hide Your PIN – covering your PIN when using a card for EFPTOS purchases or ATM withdrawals is the simplest way to stop people from seeing the numbers and reduce the chances of unauthorised transactions if your card is stolen.
- Look Around – whether it is someone looking suspicious or an ATM that seems damaged, paying attention to your surroundings and your instincts could stop you from giving away card details. If you do see something suspicious, make sure you contact both your bank and any relevant security services so that all your bases are covered.
- Double Check Details – phone and email fraud is on the rise and some of the scammers out there are getting very clever at sounding and looking like the real deal, not to mention online shopping sites versus their fake counterparts. If anything seems off, even just a little bit, make sure you contact the bank or company directly to see whether or not the contact is legit.
- Upgrade Your Protection – if you do any online shopping then it is important to have a good antivirus program installed. Some of the computer threats around record what you type, including debit card numbers, and by protecting your computer you will be protecting your card.
- Keep Card Details Personal – it may not seem like a big deal to give a friend your card and PIN so that they can go and get cash out for you, but even if you trust them it could cause a lot of problems down the track. For started, giving out these details cancels out most zero liability policies, so your trust could lose you money.
For people who have never had an issue with their debit cards, fraud may not seem like a problem (and hopefully it never will be).
But by actively upping your card security in small ways, you can get both protection and peace of mind.