Continuing with its ATM/Debit Safety Awareness Month, this week the PULSE(R) debit network releases Debit Card Safety Tips. Although debit is a secure and convenient form of payment, it is a good idea for consumers to take some basic precautions when using their debit cards.
Debit Card security tips for using your card over the phone, on the internet or in person.
Debit Card Safety
- Keep your PIN personal: ATM transactions and PIN debit purchases require the use of a secret code known as a personal identification number or PIN. Memorize your PIN, never write it on your card or store it with your card. Never let someone else enter your PIN for you.
- Do not disclose information about your card or account over the telephone: No company or individual needs to know your PIN, not even your financial institution. If you perform transactions over the telephone using your debit card, never disclose your PIN.
- Never disclose information about your card in response to an unsolicited e-mail or request: E-mail is a common channel for fraudulent activity. Never provide your debit or credit card number, PIN or any other non-public personal information to any entity in response to an unsolicited e-mail or request. Your financial institution will never send an e-mail asking for your PIN.
- Make certain your Internet shopping or travel booking sites are secure: Use trusted sites or look for secure transaction symbols when shopping online to ensure your account information is protected. Always log off from any site after you make a purchase. If you can't log off, shut down your browser to prevent unauthorized access to your account information.
- Protect your card's magnetic stripe: Do not expose your card's magnetic stripe to magnetic objects. Magnetic objects can damage your card.
- Report a lost or stolen card at once: Immediately call your financial institution if your card is lost or stolen to reduce the chance that it will be used improperly. Immediate notice of lost or stolen cards also will limit your potential liability for unauthorized transactions.
- Review your account statements for unauthorized transactions: Review all account statements from your financial institution promptly, or better yet, monitor your account through your financial institution's online banking system. Report any errors (including transactions you believe may be unauthorized) as soon as possible.
Going to travel this summer? Whether you will travel for a vacation or for business, here are additional security tips to protect your ATM card transactions.
Although a debit card is a secure and convenient way of paying, it is a good idea for consumers to take some basic security precautions when using ATM machines.
ATM Safety
- Survey your surroundings: Pay attention to suspicious activity that may be occurring in your immediate area. If anything appears to be out of the ordinary, or if the ATM is obstructed from view or poorly lit, leave the area and try another location.
- Take someone with you: Whenever possible, it is a good idea to take another person with you when using an ATM, especially at night.
- Have your card ready: Minimize your time at the ATM by having your debit card out and ready to use. Do not let a stranger assist you in making a transaction, even if you have trouble or your card gets stuck. Never count your money while at the ATM.
- Safeguard your personal identification number: Block the view of others when using the ATM by shielding the key pad when entering your personal identification number (PIN).
- Look for possible fraudulent devices attached to the ATM: If the ATM appears to have any attachments or alterations to the card slot or key pad, do not use it. If possible, report the problem to the financial institution or ATM owner.
Browse and apply for a good or bad credit card, whether a secured pre-pay credit card, an unsecured rewards card with vacation points and miles or a business travel credit card.
Debt Cards and ATM Cards - Getting money and depositing money using Debit Cards and/or ATM cards are very popular. Most banks offer debit cards better known as a check card when a checking account is opened. A debit card provides an easy way for you to get your money. Debit cards can replace writing checks and can double as your ATM card by letting you withdraw or deposit money using an ATM machine.
Debit cards will have a VisaŽ or MasterCardŽ logo on them and they look like credit cards. They are accepted anywhere credit cards are accepted. They can be used withdraw money or make purchases and do not accumulate interest because the money is taken directly from your checking account. Debit cards will not help you build credit. Because a debit card is so easy to use, you must keep track of all your purchases, withdrawals, paying bills, online transactions, and know what you're spending. If you don't, you can quickly overdraw your checking account and that can cost you extra fees.
An ATM card lets you get money from your savings account using an ATM machine. ATM cards do not have the VisaŽ or MasterCardŽ logo and may not be used to make store purchases directly. They can give you easy access to your money but there may be fees for that feature. Just getting out cash in the amount of $20 could cost you less or more than the cash you needed. There could be added fees for using your bank's ATM and higher fees for using a different bank's ATM. It is important to know all the terms and fees for the card. Make sure you keep track of all withdrawals and monitor how much is in your savings account.
