6 Risky Places to Swipe Your Debit Card

Identity theft and fraud are growing problems with ever-increasing technology. And iMoneyCoach wants to help make sure you are protected.

We have all heard stories of credit card information being swiped at various places, but for those who have their credit card information stolen the fraud is usually worked out and a new card sent out in a couple of days. With a debit card the thief has access directly to your bank account, and a large fraudulent purchase could cause more harm to your finances if it comes directly out of your account.

Here are 5 risky places to swipe your debit card and what you can do about it:

1. Gas stations – Thieves love gas stations for stealing your card information. Because there is little supervision and more pay-at-the-pump activity, they can easy mount swiping devices at the pump. Then they can sit across the street with an antenna and capture your information when you swipe your card. Before you even make it home, they can debit your account. So it might be a better idea to pay at the counter or use a credit card the next time you fill up.

2. Outdoor ATMs – When the public has access to an ATM, thieves are able to create card skimming devices or position cameras on the ATM to capture your information. It is better to use indoor ATMs at the bank or even retail locations that do not have as much traffic.

3. For a deposit – If you put down a deposit using your debit card, you will not have access to those funds. Instead, use a credit card so that the store or company gets their security deposit while leaving you access to all of your funds in your bank account.

4. Online – You can’t believe everything you read, and even if a site says it is secure, you do not know for sure who is handling your debit card information. There are also numerous steps along the purchasing process where hackers can “eavesdrop” and steal your information, so it is a good idea to avoid using your debit card for online purchases.

5. Recurring payments – In case a company does not stop charging your card or if you forget to write a charge down in your checkbook, you may want to consider using a credit card for recurring payments. Then just be sure you pay your credit card in full and on time each month.

6. Restaurants – Or anywhere you lose sight of your card for a while. When you hand over your debit card to your waiter and he disappears for a few minutes, you hope that he is going straight to the register to run your information, but unless you see him do just that, you do not know what he is doing with your debit card. Now most waiters and waitresses are completely trustworthy, but it only takes one to steal your debit information and drain your bank account.

Remember, it is OK to use your credit card as long as you pay the full balance on time each month to avoid any fees, penalties, or unnecessary interest payments.

Tags: debit card