Debit card numbers refer to the numbers which are embossed on the debit card. The debit card numbers are allotted to the debit cardholders at the time of issue of the debit card.
A debit card may or may not have the debit card holder's name embossed on the debit card, but the debit card numbers are obligatory.
Role of the debit card numbers:
The debit card numbers embossed on the debit card is debit card specific and consumer specific. During the debit card transaction, more than the name of the debit card holder, the debit card numbers which are embossed on the debit card play an important role.
On entering the PIN(personal identification number), the terminal at the point of sale or any other terminal sends the debit card numbers to the debit card issuing bank for the verification and authentication of the debit card numbers.
Once the authenticity of the debit card numbers is proved and presence of sufficient balance in the debit cardholder's account is established the purchase amount is deducted from the debit cardholder's account instantly.
Precautions one should take in protecting the debit card numbers:
Debit card numbers and PIN (can also be referred to as ones electronic signature) number are a clue to ones account and subsequently the cash. There are few precautions which one must take in order to safeguard ones debit card numbers.
- One should not use an ATM which looks suspicious, it might be a skimming (debit card fraud) device which could steal ones debit card numbers.
- One should keep an account or maintain a list of all debit card numbers and their expiration dates and keep them in a safe place.
- One should not give the debit card numbers to any stranger even if one claims to be representing the bank or a retailer.
- The restaurant, hotel, shopping bills must be destroyed so that one cannot get access to the debit card numbers.
- The debit card numbers should not be written on any piece of paper which may lie unattended. Debit card numbers should also be not written on postcards, envelope backs, loose pieces of papers etc.,.
Protection for consumers:
In the event of a debit card theft or stealing of debit card numbers one is protected by the Electronic Funds Transfer Act (EFTA) provided the debit card theft or debit card numbers fraud is reported timely.