7 Common Debit Card Mistakes and How to Avoid Them

Debit cards have become an essential part of our daily lives, enabling us to make secure and convenient transactions. However, if not used wisely, they can lead to financial pitfalls. In this article, we will discuss common debit card usage mistakes.

7 Debit Card Usage Mistakes You Must Avoid 

Avoiding the below mentioned mistakes can help you manage your finances more effectively and protect your debit card and bank account from unnecessary risks. Let's take a look:

1. Neglecting Card Security

One of the biggest debit card usage mistakes people make is neglecting the security of their debit cards. It's crucial to keep your card safe at all times and protect it from unauthorised use. Here are some key tips to ensure the safe use of your card:

1. Memorise your PIN: Avoid writing down your Personal Identification Number (PIN) anywhere or sharing it with anyone.
2. Be cautious at ATMs: Always cover the keypad when entering your PIN at ATMs to prevent others from seeing it.
3. Report lost or stolen cards immediately: Contact your bank as soon as you realise that your debit card is missing.

By following these simple security measures, you can minimise the risk of unauthorised access to your account.

2. Overlooking Payment Notifications

In our busy lives, it's easy to overlook payment notifications and statements from our bank. However, this can be a costly mistake. Regularly checking your transaction history and reviewing bank statements can help you detect any unauthorised charges or suspicious activities on your account.

Set up mobile notifications or email alerts for every transaction made with your debit card. This way, you will be instantly notified in case of any unusual activity.

3. Using Public Wi-Fi for Transactions

Using public Wi-Fi networks for online transactions is among the common errors that can compromise the security of your financial information. Public Wi-Fi networks are vulnerable to hacking, and cybercriminals can intercept sensitive data, including your card details.

To ensure safe card use, avoid making transactions or accessing your online banking accounts while connected to public Wi-Fi networks. Instead, use your personal mobile data or wait until you're on a secure network.

4. Ignoring Transaction Notifications

Many banks provide instant transaction notifications via SMS or push notifications on their banking apps. These notifications inform you about every transaction made using your debit card, allowing you to monitor your account activity closely.

Ignoring these notifications can lead to missed fraudulent transactions or delays in reporting unauthorised charges. Make it a habit to check these notifications as soon as they arrive and report any suspicious activity to your bank immediately.

5. Falling for Phishing Scams

Phishing scams are prevalent in today's digital world, and they often target unsuspecting individuals through emails, text messages, or phone calls. These scams aim to trick you into sharing your personal information, including card details.

To avoid falling for phishing scams:

• Be cautious of unsolicited emails or messages asking for your card details.
• Contact your bank to check the authenticity.
• Avoid clicking on links that you suspect and do not download attachments.

Remember, banks will never ask for sensitive information like your card number or PIN via email or phone. 

6. Not Checking Account Balances Regularly

Failing to check your account balance regularly can lead to overspending and unexpected overdraft fees when using debit cards. By keeping track of your expenses and monitoring your account balance, you can avoid unnecessary charges and stay within your budget.

Make it a habit to review your account balance at least once a week through online banking or mobile banking apps. This way, you'll have a clear understanding of your available funds and can plan your expenses accordingly.

7. Forgetting to Update Card Information

When you receive a new debit card, it's essential to update your card information wherever it is linked. Forgetting to update your card details can result in declined transactions or missed payments, potentially impacting your credit score.

Ensure that you update your card information with online merchants, subscription services, and any automatic payment platforms you use. 

For more information on safe banking practices, check our Do’s and Don’ts of Online Banking guidelines.