Oct 31, 2015

Do You Own An ATM Card? Read This To Be Safe!

An ATM card, is one card we all need as an individual and as a human that we are as long we live and own money. And if am to describe it in one word, I'll use CONVENIENCE.

It helps you have access to your money whenever and wherever there is an ATM machine without stepping into the banking hall. On a Saturday, a Sunday, holidays, or even at night when you seriously need cash.

credit cards

It also helps you with online transactions both home and abroad which is one part of it i use every week if not daily. I used it today (bought a replacement battery for my laptop from Aliexpress in China). Which is why am writing this to you guys about being safe with your credit/debit cards (ATM Card). As everything with an advantage, also has a disadvantage. Even if you don't use it for online transactions. Especially those using MasterCard and visa card.

See: How To Search, Buy & Ship To Nigeria & Kenya From Amazon (images)

What's The Card Safety All About?

After buying today, it rang to me like a bell that when buying things online, with your ATM card (MasterCard, visa card) what they usually ask for is your Card Number, Card expiry date (month/year), card CVV or security number and name of card holder. 

"Verve cards are a bit safer here, since you have to provide a few more information about your card. That is pin, a safe token (OTP) one time password that will be sent to the number registered to the card"
MasterCard Sample
Now if you look carefully (see card sample above), all the above information being requested for is boldly written on the body of your card. The card number is the 16 or 19 digit at the front. The expiry date is those 4 digit separated by a "/" symbol, your CVV or security number is the 3 digit at the back and card holder name is also written on it. You see?

The secret four digit pin you type when withdrawing cash from ATM machines, that is in your head and only known to you is not needed for online transaction. Meaning anybody who lays a hand on your card even for a minute can use it to buy anything as they please without your consent. As long as there is money in it.

So How Do I Secure My Card?

Now after reading the above, I know most of you whom where actually forced to get an ATM card will be thinking the card is bad and brings more harm than good. Maybe even thinking its high time you dump it. Don't do it! Just follow the below to be safe.

==>1. Keep you card safe. If you have anybody around you, used to buying stuffs online, keep it farther away from them

==>2. Erase some of the numbers maybe the 3 digit CVV number, the expiry date or a few digits from the card number. You can have them written out somewhere safe and then carefully scratch or scrape them off.

==>3. If your card ever gets lost or stolen, rush to your bank as soon as possible to block it. Even if you recover it after some days, from a suspicious individual, still block it (a new card is only N600 or N1,000 at most). Why? Most online shops give you an option to safe a card detail for one click purchases after buying with the card. Now after the person returns it, they still make purchases since they might have saved the card details.

If you like this, take the time to share the knowledge below. A lot will value it.

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