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Tips to Keep Your Debit Card Transactions Safe
Posted on Monday, January 10th, 2022 | By IndusInd Bank
The humble debit card is the workhorse of modern-day banking that involves minimal debt risk. Need access to instant funds? Just swipe a card at an ATM. Wish to make a purchase? No problem, swipe your card at the POS machine. Can we do EMI with a debit card? Well, yes, if your bank offers the service, like IndusInd Bank.
The only drawback? Debit cards can sometimes be vulnerable to fraud. After all, with modern technology at our fingertips, it’s easier than ever to access sensitive information. However, there’s no reason to worry. Just follow the tips below to increase the security of your debit card transactions drastically.
Debit Card Safety Tips
Use a Secure Connection
When you make transactions using an unsecured connection like a public network, you’re always a mere step away from fraud. Why? Because public networks are usually unprotected, thanks to the lack of proper firewalls.
If you have no choice but to use one, make sure the computer has a firewall installed, and the connection is encrypted (your vendor’s website has an https:/ web address). Doing this keeps your card transactions safe from lurkers who might be looking to steal your card information virtually.
Change Your Debit Card PIN Frequently
If you haven’t changed your debit card pin in a long time, here’s your reminder to change it ASAP. Why? Changing your pin frequently makes it difficult for fraudsters to determine your PIN, making you less vulnerable to debit card information theft. A good rule of thumb is changing your PIN every three to six months.
Additionally, try to set a password that doesn’t involve your personal details like birthdates, etc. Such information is easily accessible on your social media profiles. This makes it easy for fraudsters to access your personal details, figure out your PIN, and access your funds.
Sign Up for Two-Factor Authentication
If you’re a debit cardholder, you know you require debit card details like Card Number, CVV and expiry to make an online transaction. This is single-factor authentication.
Nowadays, you can sign up for a two-step authentication process with your bank by submitting your mobile number and email address. On enabling this feature, you usually get a One Time Password OTP on your phone or email to verify your identity every time you initiate a transaction.
Sign Up for Mobile Alerts
The first step to identify a possible debit card fraud is noticing unusual debit card activity. Sure, you can do this by looking at your monthly account statements since they tell you all about your monthly expenses, including your EMI on a debit card. The only catch, it’s too late by the time you report such activity to your bank.
Sign up for mobile alerts instead. These are delivered every time there is an account activity, specifying the amount transferred, how it was transferred and when the transfer occurred. Hence, you can identify unusual card activity right away and report your card to the bank. Ultimately, this helps you block the card, preventing any further loss of funds from your account.
Parting Thoughts
Following the above tips goes a long way in ensuring the safety of your debit card transactions. At IndusInd Bank, we offer attractive debit card services like EMI on a debit card along with quality grievance redressal in case you run into a problem. Interested in opting for the debit card EMI service? Check your debit card EMI eligibility on our website today!
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
