Does a Debit Card Have a Security Feature on It?
Using a debit card allows you to quickly access the money in your bank account, but if it gets in the wrong hands, it could also allow someone else to access your cash. Although there is always a chance that your account could be compromised, most debit cards come with some security features to lower the odds of this happening.
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CVV Number
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One of the common security features that is found on most debit cards is the card verification value or CVV. If you flip the debit card over, you should see a three digit number on the back. This is the CVV number and it is used to enhance the security of your card. Many merchants require you to enter this value when making a purchase. Since the number is on the back, it lowers the chances of someone being able to gain access to your debit card simply by seeing the front of it.
Photo
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Some debit cards also provide you with a way to include a photo of yourself on the card. By having the photo printed directly on the card, this makes it impossible for anyone who does not look like you to use the card. It would be very difficult for a scam artist to figure out a way to change the photo on the card.
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PIN
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When using a debit card, another security feature that you have working in your favor is the personal identification number, or PIN. When you are issued your debit card, the bank will provide you with a four-digit number that you must enter when making a debit purchase. You can change this to your own personal number. Unless you have both the card and the PIN, you will not be able to get cash out of an ATM or make a debit purchase.
Fraud Protection
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When using a debit card, you also have some protection built in, in case your card falls into the wrong hands and fraudulent purchases are made. If a fraudulent purchase is made, you have two business days to notify the bank and you will only be held responsible for $50. If you notify the bank within 60 days from the time you receive a statement, you will be responsible for a maximum of $500. Beyond 60 days, you are responsible for the entire amount of the fraudulent purchase. Some companies also increase this protection to lower your liability to $0 when fraud is involved.
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