Debit Card
Banking cards offer consumers more security, convenience, and control than any other payment method. The debit offers enormous flexibility, as well. These cards provide 1 factor authentication for secure payments, e.g, OTP. RuPay is an example of a card payment system offered by NPCI. Payment cards give people the power to purchase items in stores, on the Internet. They save both customers and merchants’ time and money, and thus enable them for ease of transaction.
How to get it
- Provide KYC (Know Your Customer) information to open a new account
- Apply for a Debit Card
- Get PIN
What is required for a Transaction
- PoS terminal or online payment gateway
- Present the Card physically or the card details for an online transaction
- Provide the OTP (One Time Password) received on your registered mobile to complete the online transaction for the merchant website.
- Self-service and/or Assisted mode
Precautions to be taken while using a Debit Card
- Don’t write down your PIN anywhere…at least not on your ATM card. Memorize it. Further, don’t disclose it to anyone, not even to the bank officials.
- Preferably use an ATM that is within bank premises or manned 24 hrs by a security guard.
- Avoid using ATMs that are in isolated places or on the streets.
- Do not use the ATM where the card reader appears to be tampered with, broken, scratched, damaged, sticky with glue, has extra wiring or loose parts around the slot, difficulty in inserting the card, etc. These could be signs of a skimming machine having been installed.
- Preferably use the same ATM so that you are familiar with it and may notice any ‘unwanted’ changes.
- If there are people around, make sure that you shield your hand while entering your PIN. No one should be able to make out what numbers you are punching in.
- Restaurants, shopping outlets, and petrol pumps are the high-risk areas where some rogue employees might swipe your card in a skimming machine when they take it away for normal billing.
- Register yourself for SMS alerts whenever your account is accessed.
- Don’t throw away the ATM transaction slips until you verify the transactions in the bank statement every month.
- Change your PIN as often as convenient.
