The use of debit cards has almost become a way of life for many people. Whether it’s for groceries, cinema tickets, or lunch at a restaurant, there’s a high chance that you’re paying with your debit card because it is convenient and safe. However, there has been a recent rise in debit card fraud. Thieves can now gain access to your card information such as the PIN or number, and use it to withdraw money or make purchases. You need to guard your finances and stay safe so we have outlined three easy ways on how to protect yourself from debit card fraud.
Don’t Give Out Your Card Information
The first tip on how to protect yourself from debit card fraud is don’t give out your card information. As much as possible, avoid sharing your card details, especially with people you do not know. Most card fraudsters usually call pretending to be from your bank and request your card numbers. You should never give out your card details over the phone or to callers with strange phone numbers. Keep your card information to yourself and guard this jealously. Also, make sure you shred any document that contains your card details before you trash it.
Maintain a Low/Zero Balance
The second tip on how to protect yourself from debit card fraud is to maintain a low balance. You should keep as little money as possible in the bank account that your debit card is connected to and only send in money that you will use up immediately. Maintaining a low or zero balance will keep you safe because if your card gets hacked, there would be no money available to steal.
Review Card Expenses
The last tip on how to protect yourself from debit card fraud is to review your card expenses. If you ever noticed that certain sums get missing from your bank balance from time to time, then you may need to start paying attention to your card expenses. Some card frauds are not immediately discovered because the scammer is taking your money in bits. To prevent this, you should make a habit of reviewing your card transactions periodically. This might help you spot any payment that you did not authorize, and that will be the first step towards resolving the problem.
In all, simply be conscious of the decisions you take involving your card information and ensure to stay safe and guarded and stay away from Ponzi schemes.