As the prevalence of online shopping increases, many consumers are wondering if it is safe to use a debit card online.
It’s a fair question, because online scams are also on the rise.
This article will examine some of the benefits and risks of debit card purchases online, along with some simple tips to help you protect your financial information.
Is it safe to use a debit card online?
Yes, assuming you’re buying from a trusted merchant over a secure connection (ie HTTPS), it’s safe to use your debit card online. That being said, for your own financial security, you should avoid making online purchases over public Wi-Fi; and never share your debit card information via email.
Benefits of using a debit card online
There are quite a few benefits to using a debit card for online purchases. Here are some reasons for you to choose debit over credit.
Avoid debts
When you use a credit card, you’re essentially taking out a high-interest loan every time you make a purchase. Those interest charges add up if you don’t pay your balance in full each month.
With a debit card, on the other hand, you are spending your own money.
Therefore, if you do not have the money in your checking account, you will not be able to make the purchase.
easier budget
Every time you use a debit card, the money you spend comes directly from your checking account.
This makes budgeting incredibly simple, as all your transactions will immediately appear in one place. You won’t have to wait a few days for the transaction to appear, and you won’t have to log into multiple accounts to keep track of your spending.
This simplifies the entire budgeting process.
The disadvantages of using a debit card online
Using a debit card for online purchases isn’t all sunshine and rainbows.
Debit cards have drawbacks, and you should be aware of them before you sit down at your computer to make a purchase.
Hard to buy expensive items
Debit cards tend to have low daily spending limits. In many cases, you won’t be able to buy anything over $1,000 without making prior arrangements with your bank.
This is good and bad, all at the same time.
For one, this security measure will prevent scammers from spending every dollar you have in a single day.
However, in the event that you want to make a large purchase, you probably need to call your bank and let them know that you are making a purchase greater than your daily limit.
This may seem like an inconvenience at the time, but in case someone gets your debit card information, you’ll be happy to have a daily spending limit.
is your money
One of the biggest arguments against using a debit card is that the money you spend comes from your own account.
So, if someone manages to use your debit card fraudulently, you may have to wait a few days after making a claim before your bank will refund you.
Fortunately, if you manage your money wisely, check your bank account often, and build an emergency fund, this shouldn’t be much of a problem.
Debit Card Security Features
Debit cards are great financial tools, but if your card falls into the hands of an unscrupulous person, it can be a tool of great harm.
Fortunately, debit cards come with plenty of security features to prevent scammers from doing too much damage, if at all, to your financial situation.
A CVV code
To make an online purchase, you must provide the card’s 3-digit Card Verification Value (CVV) number. The CVV provides an additional layer of security to thwart financial thieves.
A PIN (Personal Identification Number)
The first line of defense is your Personal Identification Number (PIN) needed to withdraw cash from an ATM. Never share your PIN and make sure it is unique to your card and not used for other accounts.
card blocking
Mistaking the security PIN for your card or online account can trigger a card lock that will require you to contact your bank to have it removed. And before they remove the block, you will have to prove your identity.
This is beneficial in case someone tries to use your card and guesses your PIN.
text alerts
Banks are getting better and better at detecting fraudulent activity.
Whether it’s someone using your debit card to make an online purchase that doesn’t align with your spending behavior, or someone trying to hack into your bank account, you can set up text alerts to notify you of any suspicious activity.
This is a great feature that can give you added peace of mind when using your debit card online.
Signature
While not directly related to online shopping, it is still an important security feature.
Always sign your card because if you accidentally leave it next to your keyboard after making a purchase, anyone who steals it will have a harder time using it in the real world.
Tips for Using Your Debit Card Safely for Online Purchases
These days, using your debit card online is pretty safe. However, you shouldn’t leave all of your online financial security in the hands of retailers.
There are things you can do to protect your financial privacy and make online shopping a safer, more pleasant, and more convenient experience.
NEVER put your card information in an email
You never want to put your debit card number or PIN in an email.
Only scammers will ask for your financial information this way.
Legitimate online merchants will always use a secure and encrypted server to take payment information. So if you ever get an email asking for your card information, run away as fast as you can, and NEVER click on any link associated with the request!
Avoid public WiFi networks
Merchants around the world offer free Wi-Fi as an added convenience to their customers.
While this can be incredibly convenient, shopping on these public networks is dangerous and you should wait until you are safely at home on your private network before entering your sensitive financial information into a shopping cart.
Know your retailer
Make sure you buy from a reputable website before making an online purchase.
A quick search of a few Google reviews is usually enough to help you uncover complaints that might make you think twice about giving them your card number.
Verify website security
Only shop on secure and encrypted websites.
Before using your debit card to make an online purchase, check the upper left corner of your browser window in the address bar and make sure the website address begins with “https” and not just “http “.
In addition to the https, you should also see a closed lock symbol.
The HTTPS designation (and the associated lock) means that the website uses a secure connection and your information is protected.
Safe use of your debit card online
Shopping online with your debit card can be an easy, efficient, and convenient way to ship goods and services directly to your home.
And as hassle-free online shopping outpaces the headache-prone physical shopping experience, you don’t want to be left behind.
But embracing new technology comes with the responsibility of making sure you’re using your debit card safely online to avoid the many problems that come with identity theft and financial fraud.
Related questions:
Is it safe to give my CVV number with my debit card number?
Yes, as long as the retailer is using a secure and encrypted shopping cart, you must be sure to provide your CVV number with your debit card number. In fact, most retailers will ask you to provide your CVV to verify your card information and reduce the risk of fraudulent purchases.
Can someone use my debit card without the PIN?
Yes, whether in a store or online, someone can use your debit card without the PIN. In the case of an in-person transaction, they can choose to “Forget PIN.” Meanwhile, for online transactions, you’ll need to provide your debit card name, card number, CVV, and expiration date to complete a purchase.
This is exactly why it is so important to constantly check your bank account. By keeping a close eye on your checking account, you can spot and report any fraudulent activity quickly.
Is it safe to use a debit card on eBay?
Yes, it is safe to use a debit card on eBay. As one of the largest marketplaces in the world, eBay takes payment processing very seriously. They have implemented advanced and powerful security features to keep your payment information safe.
Is it safe to use a debit card on Amazon?
Yes, you can safely use a debit card at Amazon to make purchases. Amazon has built in many security measures to keep your information safe and secure during the checkout process. They use a secure and encrypted shopping cart and all your financial details are carefully protected.
