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How to Use your Cash Card Correctly

A guide to show ways on how to spend safely and make the best use of your cash card.

Are Cash Cards Safe?

Carrying cash cards are better than carrying money for a variety of reasons. It matters how you spend your money. Certain kinds of fraud can be avoided by using a more secure cash card. You’re out of luck if you lose your cash or your wallet is stolen. Payment cards, particularly cash cards, can be quickly and remotely canceled and replaced. Cash cards are convenient and not inherently dangerous. Even if you’ve never let your card out of your sight, it’s possible that it’s being used illegally. Checking your account balance on a regular basis is the best way to catch this before it causes too much harm.

Key Highlights

  • Change your personal identification number (PIN) and password every few months.
  • Keep an eye on your balance to catch any fraud quickly.
  • Many cash cards have a daily spending limit that is determined by the bank or credit union who issues the card which prevents you from over-spending.

How to Use a Cash Card Online

It’s a good idea to follow basic security rules when using the Cash card online. Using the cash card for online shopping is always safe if you Make sure you’re shopping on a secure website. All users need to do is go to a shopping website, pick the items you want to purchase from the website, choose the checkout option and select Pay by cash card. After that, fill in the particulars of your cards like Card number, expiry date and CVV code which is usually located on the back of your card and often consists of three digits. At the very end of the transaction, enter your PIN or one-time password. If you carefully follow all of the steps, your payment will be processed immediately and safely.

A Cash card limits your over-spending

Many people prefer a Cash card because it helps them prevent overspending. Even though the money goes into your bank account, you may not be able to access it. You can limit purchases by type (department store, online purchases, and more) and amount if you want to be more in control of your spending. You can also set and receive notifications to be notified when transactions take place. Many cash cards have a daily spending limit that is determined by the bank or credit union who issues the card. Plus, rather than racking up debt and paying interest on a credit card, you’re more likely to spend within your means when you use Cash card.

“Your cash card is an easy target for hackers and thieves so it is important to learn how to use a cash card safely to safeguard your hard-earned money.”

Ways to Keep Your Cash Card Safe

1.When using your cash card, choose signature over PIN transactions. Merchants prefer that you use your PIN because it suits them better, which is why most payment terminals are set up with a PIN prompt as a default. However, it’s riskier because it allows data thieves to create a fake card and withdraw your money from an ATM.

2. It’s essential to keep an eye on your statements because monitoring them for any unusual activity is basic advice, but many of us don’t. Regularly check your account balance and transaction history. If you see anything suspicious, immediately report it to the bank.

3. When it comes to online transactions, be smart. Shop with reliable merchants and look for secure transaction symbols on your browser, such as the “lock” icon. When making online purchases, stay away from public hotspots.

4. Many banks allow customers to link a savings account or line of credit to their checking account and have funds transferred automatically if a transaction will end in an overdraft. If thieves use your debit card, they have the ability to wipe out all of your accounts, so temporarily disable this feature.

5. Update your contact information (mobile number, e-mail, address, etc.) with the bank on a regular basis. This would allow the bank to inform you of any suspicious transactions more quickly.

6. If you’re planning to use your card abroad, let the bank know your travel dates and destination.

Cash cards are safer to carry than cash

Protecting PIN Number

This is most important bit of advice given to all Cash cardholders, The PIN (Personal Identification Number) must be kept safe and secure at all times. It is not recommended that you share your PIN with anyone (including your spouse, family members, or friends) or that you write it down and keep it in your purse or wallet and don’t give your personal identification number (PIN) to anyone who asks. Store your card in a safe place, and make a habit of regularly checking you still have your card. Never let anyone else use your card because it can result of you being reliable for any unauthorized electronic transactions involving your card, customer ID, access code, password, or PIN. Always memorize your PIN. When typing your PIN into a screen, be careful. Make sure no one can see the numbers you’re entering–if possible, cover the screen with your free hand.

Cash Card Safety Tips for Travelers

1.While traveling take only the cards you want to use, as well as a backup, and keep them safe from pickpockets. Check the balances and charges on your cards when you get home. Some passengers keep track of their account balances while on the trip, so it’s important to be cautious when accessing a financial account online.

2. Act quickly if your card is lost or stolen and Report it immediately by making a call to your bank.

3. Examine the front of your card before inserting it into a cash machine. If something appears crooked, loose, or destroyed, or if the card slot entry bulges out significantly, it may be a sign of a card-skimming device that records your keystrokes as you enter your PIN.

4. If your card gets stuck in an ATM, don’t re-enter your PIN because someone is nearby watching you enter your code. Once you give up on getting your card to eject and leave the scene, the criminals collect it and use it.

5. Keep an eye out for strangers loitering near a cash machine, particularly if they’re in groups most commonly, the first one distracts you and the second one grabs your cash. Keep in mind that you’re most vulnerable right after you’ve entered your PIN and the amount you want to withdraw.
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