How to Prevent Debit Card Fraud

Thanks to technology, there are many ways to rob and defraud someone. People don’t even need access to your homes or safes. All they need is your debit card details and they can rob you easily.

Anybody can use your debit card details to spend money, buy items, and indulge in identity theft. How can you ensure it doesn’t happen to you? There are ways to prevent debit card fraud. You have to be diligent and smart with your purchases. But it is definitely something you can prevent and ensure your money and information stays protected.

Card Skimmers are often used to fool customers into sharing their details. They are tricky devices inserted into gas station point-of-sale stations or ATM machines. When you insert your card to make a transaction, that information (along with your PIN number if you used one) goes straight to someone who intends to use it for themselves. Next time you use your debit card at a gas station, check the card reader before you insert your card. If it looks too old or loose, then ask for a different machine or pay with cash.

Another way of preventing debit card fraud is keeping a close eye on your mail. Many of us constantly receive bank statements or other card details via mail. Our mailboxes are generally accessible by anyone and can be rifled through without our knowledge. That’s why it is essential to check your mailbox everyday and keep bank letters safely or shred them. Throwing them as is in the garbage bin could leave them vulnerable to any robber or thief trying to go through your garbage. Pay special attention to bank letters and see if the seal is intact. If you feel your mail has been tampered with, then contact the bank and authorities to inform them of possible fraud.

With a click of a button, you can purchase a new couch, tv, toaster, or even a holiday—you can buy anything these days. But with so many online stores and merchants offering their goods at our fingertips, how do we know our payment information is secure when we go to check out? You can’t be sure how secure the network is. A way to keep your debit card details is to allow two-step verification. This way when you purchase something online you get a One time password (OTP) which allows you to complete the purchase. If you don’t have the two-step verification, then you should be careful before making online purchases.

Never purchase anything on an unsecured network. That means if you’re at the airport or a public space, you may want to wait until you get home to purchase those movie tickets or shoes. And the same goes for your mobile device. If you’re using the free Starbucks Wi-Fi, maybe you ought to put any purchases on hold until you know your information is safe.

In restaurants and bars, we hand the card to the server and expect them to take care of it. In bars especially, most patrons leave the place in happy spirits and checking the bill is the last thing on their mind. You may find you have been overcharged or there are excess charges on your account. Ask for the bill or the machine when you pay the bill at a restaurant or a bar. The designated driver who is sober can check the bill at a bar to confirm the amount being swiped.

If you feel you have been the victim of debit card fraud, then report it to your bank immediately. They take these issues seriously and will block your card before any further damage takes place. Banks also have a safeguard in place where they notify the owner if the charges look suspicious or are over a certain amount. Many banks often have special alerts in place, so when an odd transaction comes through on your debit card, they can contact you to see if it was actually you who made the purchase. You should check your bank statements regularly and note any suspicious purchases or charges.

 Here are some other ways you can prevent debit card fraud-

1. Check your online bank account often (and go paperless).
2. Whenever possible, use your debit card as “credit” at the cash register. The less you enter your PIN number, the safer you are.
3. Opt for ATMs at your bank over stand-alone ATMs
4. Always use a secure network when making online purchases.
5. Sign up for fraud or ID theft protection.
6. Always check card readers when you’re out and about. If it looks off, don’t use it!
7. Always dispose of bank statements and sensitive information properly, i.e. by shredding the documents before throwing them.
8. Turn off your overdraft protection. You don’t want someone to drain both of your accounts.