9 Simple Tips To Avoid Debit Card Frauds

There have been a lot of instances where we come across reports of misuse of debit cards due to compromise in security.

Individuals often use a debit card when it comes to making payments, be it at a mall, online shopping or bill payments. While some use cash to make payments and use ATM for cash withdrawal.

Bank customers should be extra careful when using a debit card and follow security measures to avoid becoming a victim of debit card fraud.

Here are some tips to consider:

1. When you apply for fro new debit card, ensure that you have updated your residential address with the bank so that your debit card reaches the right address.

2. It is always better to keep changing your ATM PIN and make sure that you don't repeat your passwords. If you have multiple debit cards avoid using the same PIN for all the cards.
3. Once your receive your Debit Card sign on the back of the card.

4. Please do not provide any personal details, Debit Card related information to unknown websites or respond to emails seeking such information.

5. Check your bank account statement periodically, check for any unauthorized transactions.
6. If you lose or misplace your Debit Card, please report the loss immediately to the bank. Bank customers can block their debit cards via net banking, phone banking etc,

7. Do not write the ATM PIN on the Card or on a paper which you carry along with the debit card and never share your PIN details with anyone.

8. Make sure you have registered for SMS banking and subscribe for alerts for all banking transactions.

9. At an ATM, when typing your PIN, block the view with your other hand.

Things To Know

Even after taking all the measures there are chances of your debit card getting compromised. Do not panic in such situations and inform the bank regarding the same.

Customers are not liable for fraud or negligence on the part of the bank even when the loss or fraudulent transaction is reported by the customer or not.

The customer is not liable when there is third-party breach and when the customer notifies the bank within three working days of receiving notification from the bank regarding an unauthorized transaction.

Goodreturns.in