MANILA, Philippines — The debit card has made banking convenient for everyone. With it, cardholders can deposit and withdraw money, as well as transfer funds even without entering a bank. It also serves as an accessible e-wallet, and be used for onsite and online payments.
Debit cardholders, however, may fall victim to scams like ATM skimming.
ATM skimming is the act of stealing bank account details stored in the debit card. Fraudsters do it by installing a small device to an ATM machine’s card reader, and then duplicating the stolen data to illegally withdraw or purchase.
Thankfully, you can protect your debit card by practicing these five healthy habits:
1. Inspect the ATM before using.
The easiest way to avoid skimming is by inspecting the ATM you are withdrawing money from. While the device used to steal card data isn’t obvious at plain sight, a camera used to record the process of entering PIN might have been installed by fraudsters. Also check the keypad and magnetic stripe/card slot reader if it seems fake and detachable. Look out for these warning signs and immediately report to authorities if spotted.
2. Be vigilant at all times.
Some may call you paranoid, but being a little paranoid doesn’t hurt. Be mindful of your surroundings and watch out for suspicious people who may be lurking around. If the person in line next to you acts curious, cover the keypad as you enter the PIN.
3. Change PIN regularly.
Speaking of PIN, make sure you have changed the automated PIN that came with your debit card. Change it regularly to prevent skimmers from unauthorized use at terminals where PIN is required.
Further protect your PIN by memorizing it instead of writing it in a cheat sheet or at the card itself, which may get lost or stolen.
4. Monitor your account via online banking.
Manage your account and monitor your transactions safely and securely. Keep your receipt after every withdrawal and verify your current balance before making a transaction.
Another way to monitor your transactions is by enrolling your account to online banking, which allows you to track your balance and transactions over the internet. You can also enjoy other features like online bills payment and money transfers.
5. Make your debit card the most secure ever.
Finally, there is one last step sure to secure your debit card: upgrade it to an EMV chip card. The chip card technology is a global standard for credit, debit and payment.
Metrobank is calling all their debit card holders to upgrade and enjoy the following benefits:
Better protection from fraud. Chip cards provide better fraud protection than traditional cards when used at a chip-enabled terminal. Each card has an embedded microchip that encrypts cardholder information and communicates with the terminal to determine if the card is authentic. This provides an added layer of security when making face-to-face transactions.
Use it anytime, anywhere. The EMV standard has already been adopted globally because it has significantly reduced counterfeit card fraud. It’s a smart card that can be used anytime, anywhere around the world. As such, you can confidently use it for payment when dining or shopping during overseas travels.
Convenient and free. Last but not the least, first card replacement is free. Just visit any Metrobank branch nationwide and present one valid-government ID to upgrade to an EMV chip card, which will be released shortly for your use. Hurry because non-EMV Metrobank debit cards can no longer be used by November 15.
For more information on the Metrobank EMV Debit Card, click here.
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