Places Where You should Not Use Your Debit Card

Restaurants

I was once sitting at home in Mumbai enjoying a cup of early morning chai with my mother when I suddenly get a message saying my card has been swiped in a restaurant in Bangalore. Once the initial shock washed over I realized this was a restaurant I had visited a few days back before I boarded my flight to Mumbai. 

Restaurants are one of the few places where you have to let cards leave your sight when you use them. A form of high-tech financial fraud, is on the rise worldwide. It relies on sophisticated data-reading electronics to copy the magnetic stripe information from your credit card or debit card. It can capture both your credit card number and your PIN.


Shady looking ATMs

All ATMs have cameras in them for security reasons; but sometimes ATM skimmers install hidden cameras that could read both your card number as well as the ATM PIN you’ve just punched in. Once the scammers have your number, magnetic strips are easy to make and thieves are able to easily reproduce ATM cards.

There have also been cases where the ATM screen suddenly blanks out after you’ve entered your PIN. Fraudsters get into the ATM and lock a key in the machine this causes the screen to blank off once a transaction is initiated. The scammers wait for you to leave the ATM and then enter after you to unlock the machine and continue with the transaction.

Petrol pumps

Petrol bunks are high risk for debit card users.  Gas station terminals have many characteristics that fraudsters love. The lack of supervision in the pump station, make it easy for fraudsters to place skimming machines.

When you’re a new customer

Whether online or in the real world, if you're a first-time customer in a store, skip the debit card the first couple of times you buy. Only once you’re familiar with the store and are assured there is no foul play should you use your debit card

Expensive items

In case of purchasing heavy duty items like a washing machine or a car it’s best to pay using a credit card. A credit card offers dispute rights if something goes wrong with the merchandise or the purchase. Also, some credit cards offer attractive discounts on purchase of consumer durables.

Making reservations at hotels

When making hotel reservations for future travel it maybe best not to part with your debit card information.

Security deposits

When making security deposits while buying items on EMI it would be best to use your credit card instead of the debit card. That way, the store has its security deposit, and you still have access to all of the money in your bank account.

Buy now, take delivery later

This one ofcourse is a no brainer. Incase you’re buying now but taking delivery days or weeks from now? A credit card offers dispute rights that a debit card typically does not.

Recurring payments

We've all heard the urban legend about the gym that won't stop billing an ex-member's credit card. Now imagine the charges aren't going onto your card, but instead coming right out of your bank account. Another reason not to use the debit card for recurring charges: your own memory and math skills.


Online transactions

While entering your debit cards details online; do remember that debit cards are directly linked to your bank accounts and all of your information is a sitting duck for online hackers to pry into and use.








Source:yahoo