By eliminating the need to carry cash, Debit Cards make our lives highly convenient. With the Government of India now laying a significant emphasis on electronic transactions, Debit Cards have significantly grown in popularity over the past few years. But along with their popularity, cases of Debit Card frauds have also risen considerably.
Fortunately, protecting yourself against such frauds is easy and only requires a little caution. Here are five tips on how to use ATM Cards wisely and safely:
1. Hide the keypad when entering the PIN
It is imperative that you never let anyone see your Debit Card PIN when you are using it at any ATM. So stand as close to the ATM as possible and shield the keypad with your hand while entering the PIN.
Memorise the ATM PIN and avoid sharing it with anyone. Also, a lot of people write their PIN down on the ATM Card itself. If at all you lose your Card, with your PIN mentioned on the Card, it’ll be very easy for anyone to withdraw money with it. Avoid this at all costs.
2. Wait for the ‘Welcome’ screen once the transaction is completed
Once you’ve withdrawn money from an ATM, wait for the ‘Welcome’ screen on the machine before leaving the ATM. Avoid leaving the ATM vestibule when the machine is still completing your transaction or if any of your account-related information is available on the screen.
If you want to cancel the transaction in between, press the ‘Cancel’ key on the screen or on the keypad to reach the ‘Welcome’ screen again.
3. Take the ATM card before leaving
The next important tip on how to use a Debit Card is to never forget it in the ATM machine. A lot of ATMs hold your card until your transaction is completed. It is common for a lot of people to forget the card after collecting the cash.
If at all your card is stuck in the ATM or you lose your card, get in touch with your bank immediately. Only leave the ATM when your bank temporarily blocks your card or provides an alternative solution.
4. Avoid card swapping at merchant establishments
Card swapping is also a growing phenomenon. When you use your Debit Card at a merchant establishment, a fraudster can note down your PIN and swap your card with another identical card. As the fraudster will now have your PIN as well as your ATM Card, s/he can withdraw cash from your account.
So only use your Debit Card at reputed establishments and hide the keypad when entering the PIN. Also check your ATM Card before leaving.
5. Preventing online frauds
Many people also use their Debit Cards for online transactions as they are quick and convenient. But you should always check the authenticity of the platform before providing your card details online.
Avoid clicking on any suspicious links, especially in e-mails claiming that you’ve won a lottery, a prize, or offering deals that sound too good to be true.