Here are a few tips to remember the next time you use your debit card
- Keep your card details private Never share with anyone or write down your card number, CVV, PIN or password anywhere. Banks never call to ask these details, so be wary of such fraudulent phone calls. You can also hide your CVV with tape while using it publicly.
- Be alert while using your card in public Always be extra vigilant while withdrawing money from ATM or using it for payment in shops by covering the keypad to enter your card PIN. While withdrawing cash from an ATM, do the transactions yourself. Never entrust a stranger with your card. While using a card in shops, never let the card be taken to another shop or location. Make sure that your card is returned to you after the transaction. Always collect and check the charge slip.
- Enable SMS alerts and notifications Regular alerts on your phones or emails ensure checks and vigilance. You are alerted of any unauthorized action taken and enables you to report it immediately. The bank also sends regular updates, card usage guidelines, account charges for the card usage, etc. through the SMS alerts. This ensures that you have explicit knowledge and awareness of your card usage.
- Regularly check account statements Continuing from the above tip, monitoring your card usage periodically is very important. Make sure to regularly verify your account statement and tally your transactions against the account statement. If you find any unauthorized or unknown transaction, report it immediately.
- Use the card on trusted online platforms Recently, there has been a surge of online merchant portals and payment platforms. However, it is necessary to be vigilant during online payments and use only trusted websites and portals to pay using your card. Never use your card on unknown websites or sites that have no security certificate.
A debit card is a small tool that brings the bank to your fingertips, but it is imperative to be alert and follow a few quick tips like the ones mentioned above to have a safe experience.
Learn more about Mutual Funds for a good personal financial management.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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