How to protect your debit card

As with anything to do with your money, you need to be aware of the best ways to protect your savings from theft so make yourself aware of the steps you can take to ensure the security of your debit card.

Debit card security

Banking fraud is on the rise with the criminal element finding more ingenious ways to fleece you of your funds without you even knowing until it’s too late. But there are steps you can take to lessen the chance of losing your money and these include

Sign your card as soon as you receive it
Memorise your PIN. Never write it on the card or keep it written down with your card
Do not lend your card to anyone or reveal your PIN to anyone either
Check your statements and report any suspicious or unauthorised transactions

Banks and police have been quick to alert people to banking scams as well as to the skimming devices that are turning up on ATM machines. Before accessing an ATM, look for signs of tampering or any unusual additions before to the machine before inserting your card. If something looks wrong, it probably is. Also, get into the habit of shielding the keypad when entering your PIN.

Protecting your debit card

Keep track of when you new or replacement card is due to arrive and alert your bank if it fails to do so. Many cards go missing because they have been intercepted in the mail and you may not realise until strange purchases appear on your statement. It’s a good idea to make sure your letter box is secure and that other than you and your postman, no one else can access the mail in your box.

Another suggestion is to avoid handing your card number out randomly to telemarketers and other callers that you don’t know. They may not be who they say they are and you could be putting your account at risk. Only give out your card number if you have made the call to a valid recipient who needs your card number to complete your transaction.