Online shopping is not a rare incident in the modern world now. So, what is the payment method that you are using there? Is it a card or cash on delivery? If it is a card, we must ask whether it is a debit card or a credit card.
If the final answer is a debit card, it will be very important for you to read this article as there are many things that you need to know about the safety of this concept.
Why Is It Risky to Use A Debit Card In Online Shopping?
Most of the time, it is easier to purchase goods online as it provides many benefits for the customer. For instance, it saves time, and there is a big opportunity to compare several types of products from one place. Also, it offers a lot of discounts too.
On the other hand, the problem exists in the payment method here! As you all know, there is a risk while we are dealing with these new technologies. Especially, there are some reasons that prove this factor.
Moreover, we invite you to get a good understanding of the problems related to debit cards so that you will be able to be safe at such incidents. Unless avoid using this card is the best option that you can take.
All these things do not mean that online shopping is not safe. If you are purchasing those goods from a reputed website, there is no anything to be afraid of. They usually take the necessary steps to avoid such kind of problems. But risk will arise if you miss paying your attention to your safety. No one will claim you.
That’s how to avoid using the card becomes the perfect choice. It is just like planning for contingency. If something went wrong, this action would save you.
2 Reasons Why You Should Not Use Debit Card for Online Shopping
As we have mentioned above, there is a risk of using your debit card for online purchases. Why is that? There are two reasons.
Reason 01 – Limit on how much the user can spend
As you all know, you can make your payment using both credit cards and debit cards. Do you know the difference between these two options?
There is a big difference regarding the amount that the card allows the user to spend. While the credit card has a certain limit to purchase goods and services, the debit card does not have such kind of a limit. You can use any amount as long as there is money with your bank account.
As well as that, what will happen if someone uses your debit card without your permission? That’s why you must be aware of online fraud. You will lose all the money that you saved in your bank account.
Reason 02 – it is your money, not the bank’s ones
The balance in the credit card does not represent your money. It works as a loan that you have the liability to pay one day. According to the balance that you have not paid, the bank will charge for interest at the end.
If fraud occurs, this concept will protect you. Then, it becomes the bank’s duty to avoid and handle the situation. After you are explaining the case, you are not liable for the incident.
Most of the time, banks will also investigate the case and protect your money. Unless you will be going to lose your money! It does not happen with a credit card. Think about the procedure that occurs here.
When you are spending money, the bank deducts that amount from your bank account quickly. The procedure of a credit card is quite different. There is always a gap between real payment and purchases. read more Tech