One of the many complaints I hear about using a Visa debit card for transactions is that they are not as safe as a credit card. Credit card transactions give consumers protection to dispute charges, thereby ensuring a thief does not wipe out their entire bank account. Since debit cards pull the money from the bank account at the time of purchase they are more open to fraud, or so the thinking goes.
Mostly the safety issue with a Visa debit card results from the use of a PIN – a personal identification number. In theory the PIN serves as an extra barrier of security in that you must enter it before completing a transaction. However, the problem comes when someone unknowingly steals your PIN. If someone had your debit card number and your PIN they could use your debit card for transactions and empty your account.
Stealing your PIN is easier than you think too. The transaction terminals at most businesses and ATMs are wide open. That person standing behind you or even the cashier could easily sneak a peak at the code you are punching in. If those wandering eyes are also able to see/get your debit card number they’d have all the information they need.
So you really need to keep your PIN a secret. Memorize it and never keep it with you.
Don’t let the cashier enter in your PIN. Don’t give it out over the phone. Never share it with anyone over the phone, online…not even at your bank or financial institution!
But there is even a better option than just keeping it secret. This practice will make sure you have all the protection you need.
The #1 Safety Tip For Using a Visa Debit Card
The ultimate safety tip for using your debit card is this…