Here’s how you can protect yourself from debit card fraud

Debit cards have become the go-to mode of making online payments. With their increasing popularity, hackers have devised various means to obtain the card and confidential information from cardholders. 

Debit cards are used to buy products and services using POS machines, shop online using e-commerce platforms, and make bill payments. While banks have initiated a proper authentication mechanism to ensure the security of cardholders and their money, fraudsters fool people by posing as bank employees. 

The debit card linked to your bank account has a confidential PIN, which is the most crucial information for making any purchases. Users must never save PIN on their phone or any document that includes details about their PIN. Banks don’t require a PIN for any service. 

Likewise, the CVV number at the back of your debit card is confidential and used to make internet transfers. Anyone asking for your PIN or CVV is a scamster trying to steal your hard-earned money. 

To avoid alarm, hackers these days prefer doing multiple insignificant transactions to a large payment from a single account. As the amount withdrawn or transferred by the scamsters is less, they remain unnoticed for a longer period. 

To avoid getting scammed, users must pay special attention to SMS sent by the bank, which notifies about all financial transactions. In case of misplaced or stolen cards, users must immediately inform the bank to remain protected against any scams. 

It is advised to make debit card transactions only with reputable merchants and websites. Also, users must remain careful about hiding their PIN when putting it into the POS machines. One shouldn’t trust any other person to withdraw money or make payments. Ensure that no other person uses your card without your permission at any outlet.