[www.keralites.net] VERY IMP. DEBT CARD UPDATES -- 7 Places You Shouldn't Use Your Debit Card / By SiliconIndia | Sunday, August 19, 2012 |

 

7 Places You Shouldn't Use Your Debit Card

By SiliconIndia | Sunday, August 19, 2012 |

Bangalore: Are you the one who always uses debit cards while making payments and shopping? If yes, then you are more vulnerable to fraudsters. Though using a debit card is an easy an convenient way of handling cash, but at times it becomes too risky as swiping a debit card exposes your account details to others. Brian O'Connell from Mainstreet.com has highlighted some of the most dangerous places where you should avoid using your debit cards.

1. Skimming ATMs

Outdoor ATMs provide a perfect opportunity for thieves to skim your debit cards. Skimming is the process of running down debit cards through a machine which captures' the information hidden under the magnetic strip. Julie McNelley, Senior Analyst for Aite Group LLC says "The card terminals where you must swipe your card to get into ATM vestibules can be easily accessed as a skimming site by criminals. You can spot ATM skimmers by checking for ATM components that look beat-up or askew" as quoted by Business insider. Hence, it's better to use an ATM inside a retail outlet or other high-trafficked, well-lit place.

2. Online or Wi-Fi Hot Spots

Never use your debit card for an online purchase. Once your debit card number is exposed, it is impossible to know who is handling your information. Though most of the financial institutions take major protection measures for the customers the secure their debit card information online but still the recent development in cyber crimes has paved the way for hacker and scammers to rob your bank balance. Avoid using your debit card at your favorite coffee shop or other businesses which offer you free Wi-Fi access. Many of those businesses have unsecured wireless connections, so it's much easier for hackers to log and steal your data.

3. Restaurants

After having a fun dinner with your friends, avoid giving your debit card to a waiter/ess. Once it is in other's hand, it will give him/her an opportunity to copy your card information, add extra charges or tips to your card. Even when the card is in site, charges can be added because s/he has the banking information. It is advisable to use cash when dining out.

4. Regular Payments

Business enterprises will always welcome you to go by debit card as a mode of payment when you need to make regular payments to them. But it's your duty to protect yourself and your card information. At times it is wise to use your credit card for payments as even in case of any dispute, they cannot directly deduct any amount from your account. If you feel that there is some sort of funds mismanagement going on with your account balance then immediately cancel the regular payment scheme of your debit card.

5. Making Reservations

If you are making any advance booking then make sure that you don't opt to pay through your debit card. Travel agents may not withdraw money immediately from your account but will hold your paymentuntil the reservation time. Along with your money, your card information also gets stored with them, which can be easily accessed by others. It is your responsibility to know, when to use a debit card and when to use other means to pay.

6. Rental or Security Deposits

For hiring a car on rent or any heavy duty machine, avoid the use of debit card. The reason is because the business will actually take the money out of your account in the form of a security deposit. You'll get the cash back when you return the car. If you use your credit cards you will be saved from making payments made from your earned money, as it's your credit card company who will make the payments on your behalf .which means your money would only be 'frozen'.

7. Setting up Automatic Payments

Using a debit card to set up automatic payments is like allowing someone to debit money directly from a checking/savings account. Once such permission is set, it can be stopped and modified, but don't forget that such an automatic payment is permitted. You should make sure that all the details and information regarding deductions and remained balance should be clearly mentioned in the bill provided by the company.

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