ATM CARD SAFETY TIPS

MOST people are not aware that they could lose tons of money through card fraud if you don’t take security measures especially when you are using a debit card.

A debit card is a payment card that makes payment by deducting money directly from a consumer’s bank account. A credit card is a card that enables the cardholder to borrow funds from that institution such as bank, and then pay money back with interest according to terms and conditions.

Unfortunately most people in Zambia own debit cards which are not too safe as compared to credit cards. Debit cards and credit cards are usually offered by major payment processors like Visa or MasterCard. They both look almost identical, with 16-digit card numbers, expiration dates, and personal identification number (PIN) codes. But offer different options.

Below am going to share with you a few tips on how to safeguard your card.

Safeguard your card

Your debit card has a card verification value, the expiry date and the card number; these 3 numbers are a hall way to your bank account, without proper precautions someone can have access to these numbers and do online transactions in your name, always safeguard your card, if you decide to swipe to take an order, ensure that it’s done quick and not allowing the other party to fully view your card numbers, (The CVV, the expiry and the card number). Avoid giving your cards to your children carelessly because someone can have access to your details.

Check Your Bank Statements Often

It’s important to regularly check your statements, I had a friend who noticed that he was losing money from his bank regularly through purchases online, he was luckily quick to detect and stop the vice by notifying the bank. Check your bank statements often using your mobile every week or after 2days, report any fraudulent activity to the bank immediately.

Report

If you lose a card or notice suspicious transactions, always report quickly so that they cancel your debit card and prevent additional charges. You may also want to contact the police and keep a copy of the police report for reference in case you want your bank to reimburse the charges.

Password

It’s advised to change your pin and password every few months, avoid using birthdays, pet names, partners name or your mother’s maiden name as passwords, they are easy to guess.

Protect Your PIN Number

Never give out your personal identification number (PIN) to anyone who asks, memorise it if possible, don’t write it down, put in your purse or wallet. Never give your information about your ATM card or PIN over the telephone even if they claim to be from a bank, better you go there personally.

Try Avoiding Debit Card Use Online

It’s advised to use a credit card online but in an instance where you use a debit card online, be careful check for a security, a padlock on the website usually before the url, which shows if the site is safe or if the information will be encrypted.

Have Bank two Accounts

I always advise people who use much of the card online to have two bank accounts; whenever you want to purchase something you can transfer money into the account attached to your debit card, that way it’s easier to secure money.

ATMs at a Bank are safer

If you have an option, try to use the ATMs located at a bank which are more likely safer, stations and other public places have a greater risk of having a “skimming” device attached by a thief, it’s not fully guaranteed that the bank ATM might not have a skimming device but it’s much more safer, skimming devices are common in places without surveillance cameras.

Take your receipt

Whenever a transaction has taken place through the ATM,

Take your receipt. Don’t throw your transaction slips around carelessly; someone can use it at a crime scene to divert evidence.

Other Tips

After transaction, put your cash, card and receipt away immediately. Count your money later.

When using a drive-up ATM, make sure your car is running with your doors locked