While the demonetisation tightens, encouraging more utilisation of ATM cards, its crucial to understand the fraudulence involved in usage if ATM cards and the importance to protect yourself from being a victim. AT the first point, ask your card issuer to change your magnetic strip card to one that is chip-based.
Checks for card protection
Protect your card and Pin
- Protect your ATM and debit cards as if it were cash.
- Report lost or stolen cards immediately.
- Do not write your Personal Identification Number (PIN) on your card.
- Do not give the PIN number
- Do not reveal PIN on phone to anyone
- Avoid using numbers that are easily identified
- Use ATM in private.
- Use the ATM quickly and efficiently.
- Make sure nobody watches you key in your PIN number.
- Use your body and free hand to shield the ATM keypad during the transaction.
- Do not visit an isolated or secluded ATM.
Be careful for skimmers
- Do not swipe a card on machines that claim to clean the magnetic strip.
- Do not transact on PoS or ATM that looks tampered with.
Carry the receipt
- Never leave the receipt behind at the ATM.
- Discarded ATM receipts can lead to identity theft and account hijacking.
Check your account frequently
- For any irregularities in your statement, e.g., charges made for items that you did not order, cash withdrawals that you did not make.
- Contact your bank immediately to report such incidents.
Source: Outlook Money