How to Keep your Debit Card Safe?

Debit card safety

As explained by Google in simple words, a debit card is a card which enables and provides the owner/holder with the privilege of sending money electronically from their bank account while paying for a new product or service. Often also referred to as a bank card, plastic card or check card, a debit card is essentially a plastic card used for payments which serves the exact purpose of cash. It is merely a replacement of cash while making transactions and monetary exchanges. Though people may tend to confuse the debit card with a credit card, the major differential lies in the fact that when your debit card is swiped, you draw money and pay directly from your existing bank account. It withdraws the amount that has already been deposited by you into whichever bank you have an account in.

Though procuring a debit card is a necessity these days, it is also imperative to keep it safe. A debit card is preferred for a number of reasons, with easy handling and convenience being at the top of the list. In numerous cities and countries, both domestic and abroad, the use of debit cards has become so widespread that their number has surpassed the use of cheques as methods of payment and also cash in some cases. However, it must be kept away from frauds and thugs. Certain measures that you can adopt to keep your debit card secure are:

  1. The most important way to ensure that your debit card is safe is by keeping it securely with you in your bag or wallet. Carelessness may lead to huge loss. You must double check to see if you have taken it and put it back in after swiping it or putting it to use anywhere outside your room.
  1. Keeping the pin of your card safe is very important. The four digit pin that is generated and handed over to you by the bank officials is very significant and must not disclose it to anyone.
  1. The CVV number, which is a three digit number behind your card, should also be handled with extra care and caution. That is as important as the pin.
  1. It is advisable to check the bank statements often and timely update the pass book at regular intervals. This will help you to identify any unauthorized transactions done from your card and you can then take all necessary actions.
  1. One important method of ensuring the safety of your debit card is by using it only at ATMs of banks. Avoid using it at the ATMs in malls, convenience stores or the petrol pump. You never know which machine may be fraudulent or which camera may be recording while you feed in your debit card pin. In fact, it must be least used for online payments as well because these payments work on “pull” mechanism which pulls out most data related to the card holder and the card as well.
  1. Lastly, you must build up on your own two step verification process in case of OTPs to be generated and report to the police immediately in case of any suspicious acts or transactions.


Anum Yoon is the founder and editor of Current on Currency. She loves all things personal finance, which is why you'll find her work all over the PF blogosphere.