Emin Mahmudov: “With one card, we can make purchases and keep our spare money there. If you are not sure about card security, keep your main money on a separate card, block that card in the mobile application, reset all limits.
Almost every day we hear about a new type of fraud related to bank cards. No matter how much we know about the use and security of cards, hackers can still steal the money from our card after a little carelessness. For some reason, their victim cards usually have large amounts. For this reason, there are those who recommend using indirect bank cards by dividing them into categories. They say that our shopping card should be separate, our salary card should be separate, our online shopping card should be different… How does this approach reduce the risk?
We can do everything with one card, but…
Emin Mahmudov, an expert on banking issues says that with one card we can make purchases and keep our spare money there. There is only a “but” to this: “It may be that the bank card gives you good advantages. For example, it charges you interest on the balance on the card, and its bonuses are good for purchases. That is, saving money on that card is beneficial for you, as well as shopping. Then, if you want, you can keep a large amount of money on the same card and use it for shopping. At the same time, you should think about one question: How careful am I about the security of my card? Am I sure I’m not giving out my card details when spending funds? If we have that certainty, we can manage all our affairs with one card.”
How do they withdraw our money at the time of salary?
If we are not sure, if we do not want to take risks, E. Mahmudov said that it is more advisable to divide the cards we use into categories. First, he touched on our approach to the salary card: “In Azerbaijan, there are very few banks that give money to salary cards, calculate interest on the balance on the salary card, and give some additional advantages – miles, bonuses. For both this and security reasons, it is not recommended to use our salary cards for daily purchases. It is not recommended to register with a salary card on online sites. If they get hold of your salary card information, they keep it ready in memory. They can use those funds when they think that funds have arrived on the card. The estimate is known when the salaries are taken into account.”
E. Mahmudov stated that it is more advisable to use debit cards, which have many advantages in shopping: “Debit cards are the most profitable, as well as calculating interest on the account balance and additional bonuses. Moreover, most banks offer free debit cards to their customers. If we are not very careful about the card we use for shopping due to its advantages, it is advisable not to keep a lot of money on these cards. You keep the main money on another card, add money to this card up to your current spending. “The best way is to use those cards online.”
A major threat posed by a cashless card
The expert says that it is more dangerous to register cards with our money on sites we do not know: “Suppose you buy a product or service from some foreign site. Of course, you need to enter your card details for payment. Do we trust that site where we entered our card information? Therefore, the safest method for online shopping is virtual cards. We buy a virtual card, put enough money on that card to buy that service and write our virtual card information on that link. If the site you enter is a fraudulent link, it can only steal that small amount from us, our other amount remains intact. If we write the information of our real card on an unknown link or website and think that there are no funds there, I am not losing anything, etc. we will make a big mistake. Hackers can access the bank’s mobile application using your card information and take over the management of all our cards, current accounts, and savings there. Therefore, do not use your real cards on sites you do not know.
A hacker uses your credit card before you
Having our own money stolen by hackers is already bad for us. There is also the money we took as a loan. The hacker uses it, but then we have to pay that debt. According to the expert, credit cards are one of the most targeted cards by hackers: “What I mentioned about other cards also applies to the use of credit cards. In addition to using credit cards, we also need to be careful when buying them. When we buy these cards, hackers can take them in a short time. So, recently credit cards (this also applies to debit cards) are purchased online, delivered by courier. Until the card is prepared and reaches the customer, the bank makes many calls to the customer. At this time, every incoming call cannot be trusted. The bank itself cannot ask for any information about the card it issued later. Most of the time, fraudsters who have not put credit on the card get information about it and call the customers on behalf of the bank and say that they are asked to tell us some or other numbers in order to put money on the card. Card users also know the bank and say the information they want. It is necessary to know that the bank knows exactly which card it gives to its customer. It places the funds not on the card, but on the card account. It does not operate with any card information.”
Blocked card method
“Our travel card should also be separate,” they say. According to E. Mahmudov, it can change according to the amount of your expenses: “We can use our daily shopping card during trips. 99 percent cards support payments abroad. There is no need to get a separate card for travel. If we are going to spend a large amount of money on the trip, then it is better to open a card corresponding to the local currency of that country. When we shop, we don’t lose money in the commission and exchange rate difference during the conversion.”
E. Mahmudov noted that if you are not sure that you follow the card security, keep your main money in a separate card, block that card in the mobile application, reset all limits. When you need, unblock the card and add it to the card you are using, block it again. (kaspi.az)
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