Securing Debit Cards for Shopping

People can either use a credit card or debit card for shopping

. However, one gives off debt while the other a bite of reality. For those shying away from debt, their debit cards are their best bet. However, careful use is also needed in order to utilise this card fully. If not, the card could get lost, stolen, or broken. For a more secured debit card use, here's what people should do:

Make sure the debit card has funds.

Overdraft fee's are expensive. They are charged whenever a purchase exceeds the limit of the debit cards funds. In a way, overdraft fees are helpful since they saves consumers from the embarrassment of a declined card. But for the frugal ones, they don't think the fee is entirely necessary.

To avoid getting an overdraft fee, people must first load their debit card fund. This takes a few minutes online and they can do it before heading out to shop. They must remember how much they loaded so as to keep track of their spending. By keeping track of their funds can they prevent overdraft fees or over-charging.

Avoid using it for online shopping.

Consumers don't know the agents handling their account when online shopping. For all they know, they might sell their card information or use it themselves. When this happens, it becomes a huge problem for debit card accounts. Because their funds are on the card, they can easily lose a significant amount of money. This is not the case with credit cards since they are well-protected by the credit card act. Any fraud will be automatically covered by the bank. But with debit cards, they only have bank policies to rely on and this can change according to the bank's discretion. So in online shopping, debit cards are best kept at bay.

Treat it like cash.

People would normally secure their cash more in order to avoid pickpockets. This should be the same case with debit cards. They must be treated like cash because indeed, they are, only they come in plastic. Consumers, when lashing out their debit cards, must return them safely to their wallets or bags. It is also best to place these cards in credit card holders as these tend to be tight and more secure. At home, these cards must be placed in safe places like locked drawers or safes.

Once a debit card has been stolen or is lost, it must be reported to the issuing bank immediately. They can advice on the best way to deal with such situation.

Securing Debit Cards for Shopping

By: Sean Teahan

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