Are Debit Cards Protected From Fraud

How do you pay for your online purchases, are debit cards protected from fraud might be of interest to you if you pay this way. Gizmo uses a credit card to prevent his bank account to be hacked, but everyone must decide which way they wish to shop online.

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Are Debit Cards Protected From Fraud

Fraudsters can get ahold of your card details in a few different ways—one of them being through an ATM card skimming device. Hackers can also gain access to old bank statements or debit cards, or direct you to make a payment on a fraudulent website that collects your details.

Payments with a debit card are taken instantly from your checking account and shopping online comes with the added risk that your information may be stolen. Using a debit card opens up the possibility that the thief will gain access to the funds in your checking account.

You don’t get protection from Section 75 if you buy goods on a debit card – this is because they are not part of a credit agreement.

The Consumer Financial Protection Bureau is the regulator responsible for enforcing Regulation E, the 1978 federal rule that requires banks to repay customers if their money is stolen from a consumer account through an electronic payment initiated by another person

My mother has had her bank information stolen from auto payments, and she never was refunded her loss. By using a debit card you can lose so much more than by using a credit card, and the majority of credit cards will refund your account, once they investigate and have evidence you didn’t make the purchase yourself.

When You Should Use Credit Cards

There is a time and place to use debit and credit cards, below are when you are better off paying with your credit card instead of your bank card. Gizmo wants to provide you with the best information to shop online in the safest way, I have had my credit card hacked several times, so that is why that is the only method I will use to shop online.

• Credit cards are recommended by Experian to avoid the temptation of paying with your bank debit card for your online purchases.
• Another thing they suggest is using your credit card for safety when you are traveling, the majority of travelers would lose more from debit card theft than from credit card theft.
• High-priced purchases are safer with your credit card, when shopping for a card be sure they provide you with fraud protection.

No Credit Card Safety Tips

Some people can’t get approved for credit cards, so knowing how to get around this and still be safe is important for you to understand.

• Apply a spending limit to avoid losing more money than you can afford to lose.
• Avoiding overdraft protection will prevent your bank from being able to tap into other sources such as your savings account.
• Monitoring your bank transactions carefully to catch fraudulent purchases right away, you will want to check regularly to keep ahead of the hackers’ game.

So according to Experian, using credit cards if possible is your safest method when shopping online, if this information has been helpful please share it with your family and friends. You are Deals n Steals best marketing tool to reach the most people, and thank you for reading “Are Debit Cards Protected From Fraud”

Resources of the Day

The shopping tips provided by Gizmo are to help you become a smarter shopper, and another part of my article is providing you with resources. Remember to leave any of your own experiences in the reply form at the end of this free publication, we can help one another by sharing what has worked or not worked for us.

• How to Report Credit Card Fraud
• Prepaid Credit Cards
• Self-Help Guides
• Browse Flowers n Houseplant Deals

As you might have noticed my shopping tip guides are short and to the point, and the reason is Gizmo understands how valuable your time is. You can sign up for my free shopping tips publication by scrolling down to my footer, these will provide you with even more information and resources delivered directly to your email box. Once again, thank you very much for reading “Are Debit Cards Protected From Fraud”.