Debit cards are a common and convenient form of payment. They are a hassle-free and stress-free payment method and do not require loans or credits. People who are not fond of digital transactions can turn to debit cards for their needs. But before going down that path, it is essential to learn about the safe practices of using a debit card. One should avoid these common debit card mistakes for safe use.
1. Failing to check hidden fees
Debit cards are associated with an existing bank account and usually do not carry any fees. However, some banks might add annual fees to the discussion. People need to ensure that the card they select does not carry any additional charges. Thoroughly read any paperwork before signing up for the card, and ensure no other hidden terms or fees exist.
2. Not having a plan
Make sure to plan out expenses. Try segregating purchases and expenses based on the perks of using a debit card. People with more than one debit card can find this rewarding, as it can maximize their savings and rewards. For instance, customers planning to make a substantial purchase that they may have to return, should use credit cards instead of debit cards. Credit cards allow the customer to file a claim.
3. Writing down the pin
Everyone must remember that writing down pins is an unsafe practice. No matter how confusing it is to remember pins, ensure not to write and store them in easily accessible locations. If that is not an option, try writing it in code. Carrying the written note around compromises the safety and security of the individual’s bank account. It makes one vulnerable to fraud and scams.
4. Neglecting to keep a tab on automated transactions
It is easier to forget bills that have been put in autopay mode. The problem arises when people get into the habit of not checking the bill amount each month. These transactions impact the final account balance and might leave them scrambling when they have insufficient balance for a dinner out. Some might even be surprised when the card does not help pay for their weekly grocery run.
