How to protect credit/debit cards?

Status
Not open for further replies.
H

HelloMan

Contributor
from fraudulent transactions? I saw that anyone can use debit/credit card if they have access to them.
So if someone loses his wallet and so his debit card, he is gone. Is there a way to password protect the cards to that before every merchant transactions, it asks for a password, or a random one-time-pass which is sent to mobile?
 
Due to some recent changes in regulations, online transactions (for Indian sites) and mobile transactions require a special password in addition to the card information. As long as you haven't put that information on the card itself, you should be fine with those. However, for EDC transactions, coverage varies from bank to bank, with Amex being the best that I have noticed so far, for transactions made PRIOR to your reporting loss of card. After reporting loss of card, since the card gets blocked, all transactions are covered by the issuing bank.
 
  1. Visa debit cards dont require PIN for PoS transactions. Maestro debit cards do. Switch to a maestro debit card if possible.
  2. Keep most of your cash balance in an account for which you dont carry the debit card. You can keep small amount in the account for which you carry the debit card. Keep transferring from former to latter, as needed.
  3. You can memorise and then erase the CVV from your CC.
  4. Get theft insurance for your CC.
 
NinByChoice said:
  1. Visa debit cards dont require PIN for PoS transactions. Maestro debit cards do. Switch to a maestro debit card if possible.
Click to expand...
Not true all the time. Maestro cards require PIN number when used with a Maestro gateway/bank. But if the same card is used with a Visa gateway/bank, it'll not ask for PIN.
 
whenever you lose your wallet,i believe your bank gives you an emergency number to call and deactivate your debit/credit card.save this number in your phone as you never know when that auspicious day comes!

buy a proper wallet which has no loose columns to keep credit cards and such.always take extra care when you remove them and make sure you put them in their place.

as for online,i believe the current system is good enough unless someone has done his research on you.do things like not using a public pc to access accounts or if emergency do open an incongnito window and look for wavering eyes:p
 
Status
Not open for further replies.
Top Bottom