MONEY MATTERS

Worldwide, debit cards have become the latest target of thieves. Credit and debit card numbers can be stolen from the retailer’s computer, there is little you can do to predict a mass retail theft. But you can be smarter about how you use your debit card to avoid other common pitfalls, especially while travelling.
All debit cards have personal identification numbers to be used for the ATM. Some require that you type in your secret PIN not just at ATMs but even at retail stores on to hand-held device known as an EDC, or electronic data capture machine, after your card is swiped in it. Such cards, that always require the PIN, are much safer because even if they are stolen, thieves cannot use them unless they know its PIN. Some banks are known to give you only ATM- cum debit cards that don’t require the PIN for shopping. Return such cards and get the Maestro card that requires the PIN every time you use it. It is more secure and not an inconvenience. With most debit cards, merchants are required to verify the signature, but it is not done. Do not allow the shopkeeper to key in your PIN, do it by yourself.

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