Are there any security features on a debit card to protect against fraud?
Curious about debit cards
Yes, there are several security features on a debit card to protect against fraud, including:
1. Personal Identification Number (PIN): A unique four or sixdigit code required to complete a transaction at an ATM or a point of sale (POS) terminal.
2. EMV Chip Technology: The EMV chip on a debit card generates a unique transaction code for each purchase, making it more difficult for fraudsters to copy the card's details and create counterfeit cards.
3. Card Blocking: Most banks allow you to block your debit card temporarily or permanently if it's lost or stolen. This prevents anyone from using your card without your authorization.
4. SMS Alerts: Some banks offer SMS alerts for debit card transactions. You receive an SMS alert for every transaction made with your debit card, allowing you to monitor your account activity and quickly identify any unauthorized transactions.
5. Onetime Password (OTP): Some online transactions require an OTP that is sent to your registered mobile number. This adds an extra layer of security and ensures that only you can complete the transaction.
It's essential to protect your debit card's security features and never share your PIN or other personal details with anyone to avoid any fraudulent activities on your account.