How To Take Precautions While Using Credit And Debit Cards

Credit-card.jpg
Your rating: None Average: 3.7 (11 votes)

Many scams take place near the ATMs and banks, if you are off guard.. Take cues from the news paper reports of such incidents and take precautions.

Steps

1

If transaction is denied in one ATM try another ATM nearby instead of trying again and again. Sometimes swindlers offer to help you and filch your card and give you some others stolen or dead card. They vanish before you realize that you have been cheated.
Stand between the door and the ATM machine so that nobody can watch you punching your pin.

2

keep track of your transactions and withdrawals regularly, (note down in a book with details of purchases, date and amount),. which enables you to bring to the notice of the Bank if your card details have been misused.

3

while using a credit card, go to the counter where the  machine is kept and watch . Sometimes the card is swiped twice when you don’t watch and double billing takes place though you are give only one slip.

4

check after taking back your card after billing. Sometimes the cards are exchanged with expired cards and you are swindled of a lot of money before you realize and inform the Bank

5

Put your credit card or ATM card immediately after use.

6

keep the previous withdrawal slip to keep track of your balance.

7

Keep checking your Bank statements and credit card statements

Tips

  • Use your credit card only for purchases of higher denomination
  • Takeout your ATM or credit card only at the time of billing
  • Act fast and inform your Bank if your card has been exchanged or lost or you have been billed twice for the same transaction.
  • It is a better idea to keep changing your pin numbers if your memory cooperates.
  • Memorize your pin  (if your No. is 6522 – your year of birth + your age when you graduated )
  • Take a relative or friend if you are going to withdraw heavy amounts

Caution

  • do not ask strangers for help if you have a problem while withdrawing cash from ATM
  • do not write your pin on the ATM card cover or feed into your cell phone. There was an incident that a lady’s handbag was stolen and the thief had access to her ATM card with the pin code fed into her mobile. He had a field day.
  • Exchange of credit cards(by mistake) or deliberate switching of cards with dead cards is common, during transactions. A minute’s checking on your side would save the day.
  • Swindlers install small gadgets called ‘Skimmers’  in the ATM machines or card swiping machines collect data of the card holders account and pin no and prepare new cards. Sometimes  a person posing as card holder waiting for his turn can use a lighter like gadget to collect data of your card.
  • Don’t allow  strangers in the cubicle when you are operating the ATM machine.
  • Tricksters sometimes stand outside the ATM booth and show you some notes and convince that you had dropped your money. When you are picking those notes they run away with your main withdrawal.

Comments

Great tips, Girija. I guess

Great tips, Girija. I guess people sometimes can be too careless due to the hustle and bustle of city stress. It wouldn't hurt to remind people over and over again, so it sticks into their head. Sometimes, I do forget to be cautious of my surroundings. Luckily, no petty criminals have tried their hands on me yet (god forbid).

Regards,
Michael