Showing posts from February, 2015

Someone may already have your debit card and pin - 7 ways to save the money in your bank account

A family member told me that INR 50000 was spent from her account on international websites. A colleague woke up to 10 messages of INR 10000 has been withdrawn from his bank account - and if your maths is as brilliant as mine, you know he was duped of  1 Lakh rupees. In such thefts, the bank will do its own investigation after you file a police report and will respond in 45 days and will possibly return your money,... but why be in this situation?

Only your ATM PIN and your card stand between you and a fraud like this. The chances are, someone may already have your card duplicated and your pin available and is waiting for the right day when your account has more money. So change your ATM/Credit Card pins before reading further. It's a good idea.

So, how does such a theft happen? To duplicate your card, someone just needs a split second with your card when you are not looking. So if you hand over your card to someone for charging, he can just duplicate it by swiping it in one of t…