3 Changes You Should Make to Your Bank Card to Maximize Security
Bank card fraud can affect many people. It doesn't matter if you buy a lot online, or if you rarely use it... In fact, just using it once in a bad place can be enough for them to steal your money. So, we're going to show you 3 essential points that you can take into account to avoid problems and protect your bank card as much as possible. It's something you can do regardless of the bank you use.
If they clone your card, they may make fraudulent payments. They can also steal data when you make an online purchase, through a malicious page or on an unsecured network, as well as impose incompatible charges. Control, setting limits, and adjusting security issues will be essential.
- Protect your card
Card payments are safe, at least in general terms, but there can always be some security holes, mistakes we make or factors we have no control over that can lead to data theft. You can always reduce the risks and protect yourself from attacks of all kinds.
- Disable magnetic stripe
A very useful tip is to disable the magnetic strip on your card. This is what they can use to clone your card and make payments as if it were you. Most banks have this security option, so you can disable it and protect your card, at least in this part.
Keep in mind that magnetic stripe payments are practically non-existent at the moment. You won't need it. Moreover, MasterCard has already announced that its new cards will soon come without this obsolete magnetic stripe.
- Set limit
Another important recommendation is to set a limit for your card. You can set this limit for ATM withdrawals, physical store purchases, or online purchases. This will protect you in case someone steals your card and makes fraudulent payments, as they will exceed this limit and will not be able to steal more than this amount.
Also, if you need to make a larger one-time payment, you can always go to your bank’s app or website and increase the limit for a period of time. You make that payment, and then you lower the limit again so you always have that extra protection and avoid security issues.
- Enable geolocation
This feature will prevent them from using your card in certain places. Ideally, if you want maximum protection, you only allow card payments in the country you are in. Of course, if you are going to travel abroad you should remember to deactivate this feature and you will not have any problems.
Other banks go even further and offer geolocation based on where your mobile phone is located (where you have the banking app installed). For example, if your card is stolen and you try to make a payment 500 kilometers away from where your mobile phone is located, they will reject it because it may be suspicious.
In short, these are some options to protect yourself from bank card theft. The goal is to minimize the potential damage as much as possible. Being prepared for such possibilities can be within your reach once you make a few changes.