Imagine yourself driving up to an ATM, inserting your card and driving off with some cash anytime, day or night. That’s the comfort of having a debit card!
A debit card is also called a check card. It has become something that people take for granted. Fees are charged for using a different ATM or bank than our usual. The fee can sometimes be small and other times you’re paying a dollar just to use someone else’s ATM machine. Banks are actually getting a small fortune off those fees. Banks also charge a merchant if you choose to pay for items with your debit card.
We have all been advised to get rid of our credit cards. If we get rid of them, our debt problems will be gone. But come to think of this: using a credit card is much less risky than using a debit card. If you have the self discipline and control to pay off your credit card balances each month,then you are better off using a credit card over a debit card to pay for things. Many credit card companies handle fraudulent purchases on a daily basis. You are not accountable if someone uses your credit card account number without your knowledge. With a credit card, you aren’t dealing with your own personal money, but the credit card company’s money.
But, if someone steals your debit card account information, you will find your bank account empty in no time. Can this really happen? Absolutely possible. Remember that a person doesn’t necessarily have to be in possession of your actual debit card.All they need is your account information and they can already purchase online. All they’ve got to do is type in the information. It is more difficult for them to pay in person without the debit card in hand for swiping. Purchasing something with a debit card is just as the same as cash. If something goes amiss with the purchase or merchandise, your legal standing could be weaker when paying with a debit card.
However, there are also some ways to protect yourself and your debit card. Here’s how:
- The most basic thing is never let your debit card out of your sight. That means don’t leave it sitting on your desk at work. When purchasing, never let a clerk have it for too long lest your debit card information has been copied.
- If you tend to make purchases online, use a regular credit card.
- Don’t keep all of your money in one account. Have a savings account or a second checking account, just to keep your money safe.