A WORD OF CAUTION:
Debit cards are very convenient. The cards, however, can be used with or without a secret code (Personal Identification Number or PIN) in gas stations, grocery stores, restaurants, or even over the phone, just like a credit card.
Because of this, debit cards owners must be extra cautions to avoid card theft and/or fraud.
Cards that can be used without a PIN are referred to as “off-line” transaction. Therefore, a thief who has a copy of a debit card restaurant receipt, for example, can drain your checking account, even if your card itself or PIN hasn’t been stolen. To make matters worse, under the law, your liability may be higher for debit card fraud than for credit card fraud.
Therefore, if using a debit card, be very careful to protect your card, account number, abd copies of your purchase receipts.
