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12th September 2019
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12th September 2019

How to Prevent Debit Card Fraud

a flat lay of 2 people working on a financial plan with pen paper and laptop
*This is a collaborative post.
The debit card is, generally, a safe method through which persons can use their finances for various payments. Although the debit card has a high level of safety measures, it is still vulnerable to a wide range of frauds that can happen while shopping.

Although there isn’t a 100% safety measure that can ensure the fact that a person owning a debit card will not fall the victim of fraud, there are a few methods which can increase the level of safety when performing financial transactions through a debit card. Some of the main things a person can do to prevent debit card fraud and any unauthorised card payments are presented below:

  • it is highly advisable to request to the local bank which issued the debit card regular bank statements;
  • the bank statements can provide a clear image on any of the financial transactions that were associated with the respective bank account in a given period of time;
  • provided that the owner of the debit card identifies a specific transaction that he or she did not perform, the bank should be contacted immediately;
  • when using the ATM, it is highly advisable to use only those that can be found in a bank;
  • although other types of ATMs can have a high level of security, they can be used for fraudulent activities more easily than in the case of bank ATMs;
  • another way to avoid debit card fraud is by constantly changing the card’s password.

With the rise of the e-commerce shops, it is nowadays rather common to fall the victim of a debit card fraud in the online environment. The first thing one needs to respect here is to purchase online by using a secured network. Thus, it is recommended to avoid purchasing online goods by using the debit card when connected to a free Wi-Fi network, as the purchaser’s personal data can be easily identified and used by third parties.

The debit card can be used for fraudulent activities in the situation in which its owner lost it. If this happened, the first thing one must do is to notify the bank where the account was set up and its representatives will block the account. The same must apply if one had his or her credit card stolen.

a flat lay of 2 people working on a financial plan with pen paper and laptop

For example, in the city of London, one of the largest cities at a global level, the frauds associated with contactless card reach a total of 1,18 million pounds. It is necessary to know that frauds in London associated with stolen cards can take maximum 30 pounds from one’s card before the card is blocked, but this is applicable in the case of inexperienced thieves (usually pickpocket thieves). If caught, such thieves can face penalties; more information on this applicable law can be requested from this team of lawyers in London who are specialised in such matters.

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