5 Important Things First Time Debit Card Users Must Remember

  Author: Jai Prakash

Millions of Indians are already debit cards. But after the government’s demonetization move in November 2016, there are many Indians who have begun to reduce their use of cash and use alternatives like debit cards. What are the things that first timers using debit cards need to remember? Here is a primer.

A debit card is a form of plastic money and lets you make online and offline payments through your card. Needless to say, it reduces the need for you to carry cash. Here are 5 important things you must remember if you are using a debit card for the first time.

Activate the debit card When you apply for a debit card, you are sent the PIN in a secure tamper proof envelope. In case you have not received a PIN, you can call up the customer care number of the bank to generate a PIN through IVR. 

Change your PIN Once you have received your pin, you need to visit an ATM of the same bank and change the PIN. You have to go to ‘PIN Change’, enter your old PIN and then your new PIN and confirm.  It is recommended that you change your PIN on a regular basis.

Register your mobile number with the bank If you do not have your latest mobile number registered with your bank, you should do it immediately. This can be done by visiting a bank branch, ATM or through IVR. Banks send you debit card transaction alerts on your registered mobile number. If you are using your debit card for an online purchase and opt for a One Time Password (OTP) that will be sent to your registered mobile number as well.

Register for a secure pin Depending on your service provider which would either be Visa, Master Card or RuPay, you will be asked to register your card with Verified by Visa , MasterCard SecureCode and RuPaySecure, respectively. This can be done online through your bank website. This essentially lets you create a PIN, which is another level of security when making online transactions, in place of an OTP.

While making a transaction Now you are ready to use your debit card to make payments. While making payments online you will be asked to enter your debit card number, name on debit card, expiry date and CVV number, all of which are mentioned on your debit card. For the second level of authentication you can either use an OTP or the secure PIN. While making a transaction at the retail point of sale, you would need to punch in your PIN in a machine. Remember to collect the customer copy of the transaction and preserve it for later reference.

Remember to store the PIN and secure code in your memory and not to write it down somewhere where it can be seen by someone else. Also, your bank will never ask you to reveal your PIN through phone or email, so you should never give it out to anyone.