Exercise vigilance to ensure private data stays that way

How to exercise more care and caution with your debit and credit cards.

When it comes to protecting our hard-earned money, most of us are prudence personified. Whether it’s avoiding carrying large amounts of cash around, being discreet when opening the wallet to pay, or never leaving money lying around the house, we generally exercise the right measure of common sense and care in protecting our cash. But for many, this caution does not apply when it comes to plastic money – that is, credit, debit and prepaid cards. Based on his industry experience, Anil Chander, the head of cards at RAKBank, takes us through some of the dos and don’ts of card habits, including inappropriate Pin storage, sharing of cards and failure to retain card receipts.

Don’t

• Store your Pin on your mobile or with your card

Random numerical combinations are difficult to remember no matter how good your memory is. That is probably why many cardholders plead guilty to saving Pins on mobile phones, and some go as far as writing it on card sleeves or even on the back of the card itself. Pickpockets who get their hands on others’ cards and phones can easily check for this common practice. Customers are therefore urged to change their Pins to a combination that is more easily remembered.

• Lend your card

Although it is widely known that credit and debit cards must be used only by their owners, some people share their cards in the UAE, unaware of the issues and complications this causes for banks in tracking fraudulent or unauthorised purchases. A safer alternative is to issue supplementary or prepaid cards for dependent family members. Also it is best to avoid giving out the card number over the phone unless the call is initiated by the card owner to the bank or a trusted merchant.

• Take your eyes off the card when paying

Customers should never let their card go out of sight while paying for a transaction at a merchant. If a Pin has to be entered, customers should be aware of their surroundings to ensure no one can make a note of the Pin when it is entered on the terminal.

Do

• Sign your card

Even though a signed credit and debit card is helpful in avoiding fraudulent purchases, especially in the case of card theft, not all cardholders actually sign their cards. Some merchants still verify signatures with those on the back of cards to ensure consistency, and reserve the right to report questionable discrepancies. It is important to stick to one signature to avoid confusion.

• Hold on to your receipts

Credit and debit card receipts are useful as proof of purchase and when going over monthly bank statements – however, many of us throw transaction receipts away. It is important to avoid this, especially with receipts of ATM transactions which are often found around ATMs, giving away confidential account information. It is also advisable to review bank statements for credit and debit cards on a monthly basis to help identify possible transaction disputes. Customers should also be careful to check the amount on receipts before signing them. Any blank spaces on the charge slips above the total amount should not be left blank, either the tip amount should be mentioned or a line should be drawn, so nothing can be added later.

• Beware of dodgy websites

The arrival of internet banking has opened a massive window on our PCs to online shopping. Even though security measures have been beefed up in recent years and standards have become extremely stringent with regard to fraud protection, people also need to live up to their part of the bargain and avoid dodgy merchant sites by checking for the secure lock icon that appears on the internet browser, plus the message and logos that confirm certification by Visa and/or MasterCard. Online shoppers must also keep in mind that the website address of a secure site typically starts with https:// instead of the standard http://. To play it safe, online users should ensure their computer is equipped with a firewall to prevent unauthorised users from gaining access or monitoring transfers of information to and from the computer. Finally, remember that credit card details should be shared only to perform transactions and not to provide personal profile information.

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