Debit ATM card more dangerous than regular credit card?

All of us love it. Now, we could even swipe our ATM cards without having to worry about number theft or PIN pressing in front of people. But, is your debit ATM card really screwing you?

A debit card and a debit ATM card is different. A debit card could have a separate account with your savings while a debit ATM card has the same account with your bank savings account. The problem is — Debit cards do not require entering pins, leaving the card totally unsecured and susceptible to monetary frauds.

By right, debit cards should only be used by people who are so undisciplined that they couldn’t handle the stress of not swiping off his/her card in the machine to obtain something. But technology made ease of works so insecure that transactions could be bluffed into fraud.

So what’s there to be afraid of?

New ATM cards now are issued with VISA or MASTERCARD’s logo, without customers asking for it. These cards are automatically enabled to be a debit card, which transforms your new ATM card into a debit ATM card – Multiple functions with a card (but the catch is..) draining your bank account.

So the next time you’re dealing with new ATM cards for your kids, siblings, partner or yourself, ask any of the bank staff if there are any security features on the card, if you can disable the debit card function or totally make the card only ATM-friendly.

Sure, ATM cards are handy and you should carry them around — Should anything happen, you still have something to fall back on. But think about it.. A debit ATM card? A thief would probably drain your credit before you could even know — And debit cards do not have credit card-like security features.

The problem is, you can’t recover back your money (or maybe have a huge fight with the bank) as quickly as credit cards can. If you lose your credit card and report within a day, you’d probably only pay RM50 as a compensation and another fee for renewal. If you have a good credit history, you might not even have to pay any compensation. But what if you have RM5000 in your debit ATM card and before you know it, you have RM10 left?

Be smart. Use debit cards wisely. Always separate and limit money in your debit card account.

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