A debit card can be a very handy tool to have in your financial arsenal, but it's important to use it wisely in order to avoid any chances of your account information getting compromised.
In this blog post, we'll discuss some best practices to follow when using your debit card. We will also share ways to avoid unnecessary transaction fees that banks often charge for withdrawals from ATMs.
debit card best practices
To avoid any chances of your financial information getting compromised and the money in your checking account stolen, here are some best practices to follow.
Avoid overdraft charges and don't use it for cash advances.
Most banks charge a fee for using an ATM that is not affiliated with them, these fees can add up quickly if you're not careful. To avoid these unnecessary transaction fees, always use your debit card at an ATM that is in your bank's network.
No sign of an ATM? You can also get cash back from many retailers when you make a purchase using your debit card. This way, you'll be able to get the cash you need without having to pay any extra fees.
QUICK TIP: Skyla is a member of the CO-OP Shared Branch network. No matter where you travel, you can access your account at over 5,600 credit union branches and over 30,000 surcharge-free ATMs! Find a CO-OP location here>
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Monitor your account regularly
This seems like a given, but keep a close eye on your accounts for any charges you didn't authorize.
Always keep the card secure
Never share the
PIN
Personal Identification Number
or security code with anyone and avoid using public Wi-Fi when making online payments.
Set up email or text alerts for any transactions made with your debit card.
At Skyla, you can set up custom alerts easily by logging into Online Banking. Psst... Setting up alerts can help you stick to your budget by tracking your spending and saving habits through transaction notifications and account balances! Learn more about Skyla alerts here>
Keep track of transactions
Make sure to keep track of all your debit card transactions, so you can quickly identify any fraudulent activity.
Watch out for any suspicious emails or phone calls and avoid clicking on unknown links that could be malicious.
A fraudster doesn't have to physically steal your debit card to retrieve your card information and access your bank account funds. Always double-check to make sure it's a legitimate source before entering any personal information.
Here are ways you can protect yourself from fraud and have your financial institution's security services in place, so you’re double - and triple - protected.
Choose a strong PIN and protect it
Make sure to choose a strong PIN number that can't easily be guessed. To create a strong password, use a combination of upper- and lower-case letters, numbers, and special characters. Never share your password with anyone and never store your PIN anywhere on the card, in your wallet, or on any device.
Report your debit card if lost or stolen immediately
Be sure to contact your card issuer right away, if you suspect that your debit card has been lost or stolen. This will help protect you from any potential fraudulent activity and ensure that no one else is using it for purchases. Your bank may also be able to replace the card in a timely manner.
QUICK TIP: If you lost your Skyla debit card, Call us at 704-375-0183 immediately!
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Choose ATM terminals wisely
Try to use ATMs only at banks or other trusted locations to avoid the risk of skimming, which is when an unscrupulous person installs a device on the ATM terminal that steals your card information. Also, make sure to look out for any suspicious signs or people around the terminal before using it.
Consider using a credit card online instead of a debit card
Credit cards offer you more protection if your card is ever lost or stolen and can help minimize the damage of any fraudulent activity. Whenever possible, consider using a credit card for online purchases instead of a debit card. This will give you added security since the bank won’t be able to withdraw funds directly from your checking account.
By following these tips, you can keep your debit card secure, monitor activity on the account regularly, and be aware of any potential fraud. By being vigilant and taking some simple steps to protect yourself and your money, you can enjoy all the benefits that come with using a debit card.
what should i do if i can't find my skyla debit card?
If you lost your Skyla debit card or it's been stolen, contact us immediately at 704-375-0183. Even if it's after hours, our Contact Center is available 24 / 7/ 365.
You can also take additional steps in protecting your money by logging into Online Banking and freezing your debit card. Psst... You can report your card lost or stolen from Online Banking too.
As I mentioned earlier, this will help protect you from any potential fraudulent activity and ensure that no one else is using it for purchases.
ready to use your debit card responsibly?
Debit cards are a great alternative to credit cards, but they do come with some risks. By following the tips above, you can avoid any charges or fraudulent activity associated with your debit card. And if you're ever in doubt about a transaction or suspicious email, be sure to contact your bank right away. With these measures in place, you can feel confident swiping your debit card both online and offline.
If you have any questions, our Customer Service Representatives are here for you here and ready to assist! You can get in touch with us here, call us at 704.375.0183, or visit any of our branches.
Yanna
As the Content Specialist and author of the Learning & Guidance Center, Yanna enjoys motivating others by uncovering all that's possible in the world of finance. From financial tips and tricks to ultimate guides and comparison charts, she is obsessed with finding ways to help readers excel in their journey towards financial freedom.
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