Debit cards are a favourite mode of payment these days with a lot of people who do not want to carry hard cash in their wallet. Apart from being a quick and easy way to pay, other benefits of debit cards include its concept of spending what you have rather than spending on credit. Unlike credit cards, no unnecessary debt burden is created. But the dark side of improvement in the payment technology is the rising cases of fraud. As per FICCI’s India Risk Survey 2015, India ranks #3 in the world for online banking fraud!
One of the prominent ways that debit card fraud takes place is skimming, which is essentially reading the pin and other card details like the CVV, validity, etc, with a tiny camera or reader placed inside the card machine. Since it is not possible to detect such devices, it is advisable not to use debit cards at unsafe places.
Here are 8 Places That Should Be On Your Blacklist
- Open ATMs: These teller machines, located in a public area,such as a mall, or a standalone machine, may give easy access to fraudsters who can plant the reader device onto the ATM machine. The criminals are smart enough to bypass the camera due to the absence of a security guard and making these machines risky.
- Supermarkets: As paying through debit cards seems very convenient and easy; people tend to use these cards at any and every place. If, however, there is collusion between the shop staff and the fraudster, then your sensitive data might be in the wrong hands when you swipe your debit card.
- Restaurants: Any eatery where the waiter takes your card away for making the payment must be avoided. The window in which the card leaves your hand could be utilized by the server for his own benefit.
- Petrol Pumps: Until and unless you are making a direct payment to the cashier, plastic money must be avoided. Since the handlers are generally responsible for the card reader, it is possible that they have meddled with the instrument without proper supervision.
- Online Shopping: With the increased penetration of the internet, a score of online shopping sites have opened up, but not all of them are secure. Without proper security benchmarks, ow due to malware or outdated browsers, your card details can be easily accessible to a criminal.
- Big Purchases: Whenever shopping for expensive items that have a long delivery due date, it is advisable to avoid using a debit card. That is because if the company or the merchant goes insolvent, then you will lose all the money paid.
- Automated Payments: There is a risk of using this facility on the online platforms of banks. It is so because through these direct payments, there may be a chance of going into overdraft and having to pay the extra fine unnecessarily.
- Cyber Cafés: Usingpublic computers and open networks for any kind of online monetary transactions is extremely unsafe, since the computer might save your data as cookiesand go right into the hands of scam artists.
Follow a simple rule for debit card payments, use it only at places that are super secure and in situations that are unavoidable. Moreover, it is better to select a bank that gives secure cards and has proper redressal services.