It is our duty to keep our debit cards and credit cards safe and secure. It will be of no use if we worry later after missing our funds and money from our debit and credit cards by not keeping it safe. Credit and debit cards safety tips might help you in saving your money.
Here is an incident that happened in Delhi a few weeks back. Narang from Delhi would not have ever thought that he would get cheated who has been doing his daily online transaction through his debit in the restaurant where he is working as a manager.
To his surprise, he has received an SMS that said, “Your account has been debited with Rs. 20,000.00 – Thank you”. When he searched for his debit card he found it missing with him and later he realized that he has forgotten it at the ATM center itself while he had taken money just before.
The person who took the card had made a purchase of Rs. 20,000 from a shop using this debit card. Soon he realized his card is being misused, he had approached the bank on telephone and blocked his card for any further transactions. However, the money that has gone is gone forever. To stop these kinds of fraudulent activities, the Central Reserve Bank has introduced recently the 3D PIN number and password. In this situation, a Bangalore based company; 3B Technologies has recommended another security system to safeguard debit and credit cards from thefts. According to this method, once when you shop to buy a product or use your cards for any payment for a service, you (card holder) will be getting an instant SMS with the details of the purchase that has been made. It will be a questionable message stating the exact amount of purchases made where you must reply “yes” or “no”. Your account will be debited only when you reply “yes” to that message. Otherwise the transaction will be declined.
However, other experts and critics say that this method of safety would not be successful among public as most of them are not concerned about the safety of their debit or credit cards by only for a speedy and quick transaction.
Not all the safety of the credit and debit cards will be technical. Keeping the card safe with you all depends on how conscious on your earnings and spending. While using your debit cards to withdraw money, be sure to collect your card back as not all the ATM machines are same in operation. While certain ATM machines have the swiping area to swipe and enter the PIN, some other ATM machines need you to insert the card completely until your transaction gets over. A simple distraction could be the reason to lose your money.
At any case if you miss either your debit or credit card, the first step you need to do is to call your bank with card or bank account details and block the card. Once your money is safe, rest can be done later.