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Debit card fraud: What are the steps you can take to protect your debit card?

financial tools are also Banking cards are becoming the means to a convenient financial service. Additionally, these designed to make a better financial sense in several cases. More and more individuals are opting for banking cards, such as the ATM, credit and debit cards to make convenient or daily financial transactions.

Amongst all the banking cards, the debit card has been the most favourable option. One of the main reasons why that is, it offers a combination of both ATM and credit cards facilities. You can also use this to collect credit points and reward points whenever possible. However, this banking card is as good as the security benefits it offers.

No doubt, with the progression in technology, has not only a provided financial benefit, but also the means to breach security access. In other words, scammers can easily access your financial data and account, just through your debit card.

While revoking your debit card may not be an ideal solution, you can take the following methods, to protect your banking card.

Check your card ready for unusual additions:

The debit card comes equipped with an ATM facility, wherein, you can withdraw physical funds from an ATM machine. You only need to swipe your card through the reader and input your PIN code. Once this is done, you can input the amount you need to withdraw. However, at a time, scammers can tamper with the card reader, inserting an illegal piece of equipment which can not only read your card but also store the details. Once you have withdrawn your funds and your card, the scammer can easily access this illegal equipment and copy your bank details easily. To avoid such a situation, you must check the card reader for any unusual additions or changes.

Keep a track of your transactions through secured alerts:

Keeping an alert on your transaction is one way to ensure whether your banking card is well protected or not. As a regular user of your debit card, you will be aware of when and how many times you will use the card to a point you will have your own trend. Setting up an alert system for all your transactions will help you detect if there is any unusual activity on your card. These alerts also come with added details, such as a number of funds withdrawn and the location from where it was accessed.

Contact your bank and or debit card company:

If you suspect that your banking card details have been compromised, you must contact your card provider or bank. The institute will set up the required flags to monitor your card activity and alert you of any unusual activity. Additionally, if there is suspected activity, your card provider will take the necessary means to prevent any further transactions from occurring.

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