You all must be aware of the debit card, the bank provides you a card for ATM and cashless transactions, which is known as debit card.
When people want to buy something, they buy it using cash or the money in their bank account. In such a case, you have to use a debit card.
When you make an online transaction, you have 2 options. The first option is Save Your Card and the second option is Generate One Time Password (OTP). You should always choose the OTP option while making a transaction. This way your card details are not saved in the phone, so even if you lose your phone, no one will be able to touch your money.
Nowadays, there is an option on many online websites through which you can save your card details. But never do this, because doing so can be dangerous for you and the security of your account.
CVV i.e. Card Verification Value is used during any online transaction. Whenever you buy something online, you have to use your three-digit CVV. Always keep your card details unsaved, otherwise transactions will happen from your card without entering the CVV and your financial security will be at risk.
Never share your card details, such as any number written on it, with anyone. If someone asks for OTP, read the OTP carefully first and share your OTP with anyone only after being completely satisfied.
Banks provide you with credit cards and debit cards to easily withdraw cash from your account or for shopping. Cases of fraud with people using cards are often reported. Therefore, keep reading RBI guidelines from time to time.
Published at : 28 May 2024 03:35 PM (IST)
