Reasons Why You Should Not Reveal Your ATM Card Details to an Unauthorized Person and How to Protect It if Stolen

Automated Teller Machine Card also known as Debit Card is an instrument that enables its holders to perform various transactions through Automated Teller Machine (ATM).

ATM card can make your transactions with any bank easier, rather than visiting the banking hall every time to transact, you can simply and easily use the ATM to carry out whatever transactions you want to do with the help of ATM card without your banker's assistance.

ATM card will be rendered useless to its holder immediately it expires.

If it gets stolen, it can be used by hackers and you can lose all your money in your bank account.

We have witnessed different scenarios at different occasions where the ATM Card got stolen by some unscrupulous people who then hacked the ATM Card and withdrew all the money in the customers' bank account.

 

In spite of this problem being faced with many users of ATM card, I shared this post to guide us as regards reasons why we must not reveal our ATM card to a third party and how to prevent it from being used if eventually lost or gets stolen.

Even though, ATM card comes with many benefits to its users, nevertheless, it has its own shortcomings too as you all know there's nothing that has advantages without disadvantages. 

To this end, I want us to look at the adverse effect of revealing our ATM Card to a third party.

 

If you look at your ATM card very well, you'll find a 16 digit number on the front face and 3 digits at the back. I'll explain what they're both used for later.

The last number that makes the ATM card function is your 4 digit code which is created during ATM card activation and it has its own uniqueness also.

• ATM Card Identification Number
• Card Verification Value (CVV)
• Personal Identification Number (PIN) 

 

• Card Verification Value (CVV)

It is a 3 digit number printed at the back of your ATM.

It is a security feature used to prevent the incidence of card fraudulent activity.

It is an anti fraud code designed by credit and debit card companies to protect your card.

 

• ATM Card Identification Number

On the front face of the Debit Card, you see a 16 digit number on it, don't you?

The first 6 numbers are Bank Identification Number while the rest 10 are the unique account                   number of the card holder. 

The card identification number is one of the important parts of the card as it identifies your                       account with the card issuer.

• Personal Identification Number (PIN)

This is the secret number that you create for your ATM card so as to be able to perform                    whatever transaction you want to make whether at the Automated Teller Machine, Point of Sale              terminal or online transaction.

Those numbers are very unique and must be protected from a third party or any unauthorized                 persons.

Failure to do so may cost you your hard earned money.

 

Dangers of Exposing Your ATM Card to a Third Party 

 

• If your ATM card gets exposed to a third party or an unauthorized person, it can be used to wire your money from your account to their own account.

 

Have you ever witnessed/experienced a situation where you got a call or message by a scammer          even though you did not know they were scammer saying that your ATM was blocked that you            should call one particular number or forward your card details to such number? I guess you have.

 

• If you allow a third party to access your account, they may use your card to withdraw or transfer your money unaware.

 

• If you expose your debit card on an untrusted site, your card details can be used to scam you.

Let's say you're on a site which is not protected by https:// and you're asked to provide your                  Card details, you are liable to be scammed from such site.

How to Prevent Your ATM Card From Being Exposed

• Don't keep it where an authorized person can lay their hands on it.
• Make sure you don't save your 4 digit transfer PIN on your phone to avoid being stolen.
• If you receive a message or call from any unknown number asking you to provide your card details, contact your bank first, to confirm the authenticity of the call or message to avoid being scammed. No bank will ever ask you to provide your account or card details over a phone conversation or message.
  

• If your card gets stolen, go to your bank and lodge complaints immediately so that it can be blocked.
• Avoid using your card on any suspicious site.
  

     Failure to block it instantly may make you lose all your money.

 

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