5 Ways To Protect Yourself Against Debit Card Fraud

It is reported that debit card fraud has hit its all-time high. ATM's have become more vulnerable than ever before.  In a credit card fraud, you may decline any suspicious charges before making a final payment, but fraudsters take money directly from your account with a  debit card.

It's time to learn how to protect yourself from  phishing, skimming, and other types of debit card fraud by following these tips:

• Never disclose your PIN to anyone, and this includes friends, family, law enforcement agencies, and even financial intuition employees. Remember, that a bank can never ask your PIN for any matter concerning your account.

• Always keep your debit card in a safe place. Do not lend your card to anyone. If any point of time you feel that your PIN number's safety is compromised, call your financial institution immediately to cancel your card.

• It's never a good idea to choose a PIN with obvious numbers like your date of birth, name, telephone number, address,  or your social security number. Choose something that is hard to guess. This increases the security of your card, and you can prevent a debit card fraud.

• Do not write down your PIN to remember it. Always memorize your PIN. If you must write it down for your family members for an emergency, keep it well disguised, by substituting other numerals or symbols.

• If your debit card is stolen, lost, or retained by an ATM, contact your financial institution and let them know what has happened. If you find any unauthorized transaction, let your financial institution know immediately.

Debit Card Fraud

When using  your debit card to purchase goods or services:

• Keep your debit card always in your sight. Always swipe the card yourself, and if you cannot do it on your own, ensure that you are watching when the card is getting swiped.
• Watch out for people who read your PIN as you enter it. These people are called 'shoulder surfers, ' and they are adept in a debit card fraud.
• If you feel that someone is watching you as you enter a PIN, use your body or hand to shield the pin pad and prevent people from visualizing your PIN.
• Use your debit card at the places where you feel secure.
• After completing a transaction, never forget to retrieve your card.

These handy tips will help to make your debit card more secure and prevent a debit card fraud.