Here's another reason to think twice before using your debit card.
Consumers like paying with debit cards as a way to stick to a budget. For thieves, that plastic represents a lucrative spending opportunity.
"If you look at it over the last three years, the rate of compromise has almost doubled, every year over the last three years," he said. Under the Fair Credit Billing Act, your liability for unauthorized use of your credit card is at most $50 . When possible, stick to ATMs and other purchase terminals that are located in a more secure or monitored location, said James Chessen, executive vice president of the American Bankers Association's Center for Payments and Cybersecurity. For example, use an ATM inside a bank branch versus one on the street or freestanding in a convenience store.The introduction of chip card technology for debit and credit cards has stopped a lot of point-of-sale fraud, Chessen said.
For example, your bank might allow you to connect a savings account to your debit or ATM card for ATM withdrawals, or offer enrollment in a program that automatically transfers money from savings to checking in cases where a transaction would otherwise leave you overdrawn.
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