And always cover the keypad with one hand as you enter your PIN, because a thief’s spy camera may be watching.Banks usually reimburse customers of ATM or other debit card scams, but policies vary, and some banks may not pay up if you wait too long.
However, the EMV chip doesn’t store your information.
Instead, the computer chip creates a unique transaction ID each time you use it.
With a magnetic stripe, all your information is coded on it.
If a counterfeiter steals it and copies it, he can use your information over and over.
Wait 60 days or longer after your statement is sent to you and the sky’s the limit on your potential loss. When they don’t and allow only PIN verification, still opt for credit if your debit card has a Visa or Master Card logo. But it’s best to avoid unattended debit-only terminals, because they’re more vulnerable to the installation of a “skimmer” on the card reader, which steals data from the card’s magnetic strip. If you use your debit card solely for cash withdrawals, ask if your bank offers “ATM-only” debit cards (also known as “PIN-only” cards).
As the name implies, they can be used just to get quick cash with your PIN, but they pose less risk than “logo” cards, which can be used — fraudulently or otherwise — for phone or Internet purchases without a PIN.Last year, The Home Depot reported that criminals used that same method over a five-month stretch to compromise credit card information from 56 million people.EMV chips are intended to make it a lot tougher for criminals to steal your information, and to exploit retailers’ payment systems.(EMV stands for Europay, Master Card, Visa.)These companies have a lot of incentive to do a better job securing your card transactions: money.In 2013 alone, criminals stole billion in the United States by duplicating the information on the standard magnetic strip found on the back of every card." data-medium-file="https://mgtvwrbl.files.wordpress.com/2017/03/foxy_lady_lounge.jpg? w=300" data-large-file="https://mgtvwrbl.files.wordpress.com/2017/03/foxy_lady_lounge.jpg?