5 Best Tips for not being cloned of Debit, Credit Cards

5 Best Tips for not being cloned of Debit, Credit Cards – State Bank of India has made a big change in the process of withdrawing cash due to increasing debit and credit card fraud. Under the new rule, one time password (OTP) is now required to withdraw cash from ATMs.

Fraudsters are said to benefit from this additional level of security. Hence it is likely that many other banks will implement OTP based ATM withdrawal process in the near future.

While withdrawing cash one has to enter the OTP after supplying the PIN and amount. Once the OPT is entered on the registered mobile number, the transaction will be completed.

5 Best Tips for not being cloned of Debit, Credit Cards

Never give your card to strangers

Always pay in front of your sight when using mobile point-of-sale.

Use a “chip” less card

Debit cards and credit cards are usually equipped with chips these days. If you still have the old car it is better to switch to chip-based cards as they are less likely to be cloned.

Prefer two-step authentication for online transactions

For online transactions, two-step authentication is recommended. Under this system a one-time password is required to complete the transaction.

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Keep a close eye on every message related to the transaction

You should keep a close watch on every bank related message you receive on your mobile phone. Whenever you receive a suspicious message, you can alert your bank.

Do not use random For this reason, it is best to avoid using unknown ATMs, as fraudsters can install cameras, scanners or other devices to read PIN numbers on random ATMs.

Destroy your old receipts documents

Fraudsters can use an old credit card statement or charge slip as proof.

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