U.S. debit cards with best security?
Jan 18, 2017, 1:26 pm
#1
Original Poster
Join Date: Nov 2010
Posts: 6
U.S. debit cards with best security?
Hello,
Sorry if this is the wrong forum. Please move it.
I am new here, this is a great site, keep it up Smiley Happy I am in the U.S and my Citibank debit card just got compromised, again. It has a MasterCard logo.
Citibank does not participate in the MasterCard secure program
Someone used it for online transactions, and one of those went through. I am usually very careful with my card details, online browsing etc.
I want to get a new card, I do not have any credit card, so use debit cards, and I do not have big money in my bank, just a normal household salary.
Do any banks or CO-Ops have good security for their banking and debit card use? For example, in some other countries, the card holder is required to type in a code before an online transaction goes through.
Do any U.S banks have such security?
Please help me.
I feel so sad, and do not know how this happened. I never open malware, phishing sites etc.
Thank you
xx
Kyle
Sorry if this is the wrong forum. Please move it.
I am new here, this is a great site, keep it up Smiley Happy I am in the U.S and my Citibank debit card just got compromised, again. It has a MasterCard logo.
Citibank does not participate in the MasterCard secure program
Someone used it for online transactions, and one of those went through. I am usually very careful with my card details, online browsing etc.
I want to get a new card, I do not have any credit card, so use debit cards, and I do not have big money in my bank, just a normal household salary.
Do any banks or CO-Ops have good security for their banking and debit card use? For example, in some other countries, the card holder is required to type in a code before an online transaction goes through.
Do any U.S banks have such security?
Please help me.
I feel so sad, and do not know how this happened. I never open malware, phishing sites etc.
Thank you
xx
Kyle
Jan 18, 2017, 2:06 pm
#3
Moderator: Budget Travel forum & Credit Card Programs, FlyerTalk Evangelist
Join Date: Aug 2002
Location: YYJ/YVR and back on Van Isle ....... for now
Programs: UA lifetime MM / *A Gold
Posts: 14,428
I am in the U.S and my Citibank debit card just got compromised, again. It has a MasterCard logo.
Citibank does not participate in the MasterCard secure program
Someone used it for online transactions, and one of those went through. I am usually very careful with my card details, online browsing etc.
I want to get a new card, I do not have any credit card, so use debit cards, and I do not have big money in my bank, just a normal household salary.
<snip>
I feel so sad, and do not know how this happened. I never open malware, phishing sites etc.
Citibank does not participate in the MasterCard secure program
Someone used it for online transactions, and one of those went through. I am usually very careful with my card details, online browsing etc.
I want to get a new card, I do not have any credit card, so use debit cards, and I do not have big money in my bank, just a normal household salary.
<snip>
I feel so sad, and do not know how this happened. I never open malware, phishing sites etc.
As I understand it, using Debit does not give you same protection as using Credit card. While I'm in principle against, using prepaid cards (ripoff IMHO), there are some out there that reduce or eliminate some (maybe most) fees if you set up direct deposit.
At any rate, even with a small income one should try to get some sort of credit history and set up even a low credit limit credit card ASAP.
We do have some real experts in this forum, and hopefully they can chime in.
And as a last point, there are many, many ways to scam a debit card, and not necessarily online. ATMs, restaurants .... the list in Looooong
Jan 18, 2017, 4:28 pm
#4
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,507
There are a few banks that offer what you refer to, but it's hardly mandated for online transactions in the US. (They can't realistically do that either since Mastercard SecureCode/Verified by Visa is rarely supported by online merchants here and there's no mandate for them to support it.)
If fraud's reported within 48 hours of it occurring, you're only potentially liable for up to $50 just like credit cards. The main problem is that the bank doesn't have to give you a provisional credit for the first ten days they're investigating, which could cause cash flow problems if you have bills coming due.
Anyway, while I'd also suggest getting/using a credit card whenever possible, there are reasons not to do so. (Example: previous bad debt history/bankruptcy and not trusting oneself to not repeat the same mistakes.) In those cases, I'd get a second bank account for day to day spending and convert the debit card for the first account into an "ATM" card; this basically prevents the card from being used online and at most stores/restaurants. Once a week or so, transfer money from your first account into your second one. That way, the impact from the card being stolen is minimal.
Oh, and only use PayPal for online shopping whenever possible. People like to complain about it, but they tend to be very pro-customer and if nothing else will hide your card number from stores that might not care much about security.
(Speaking of fraud, chip should hopefully make skimming far less common and may eventually result in debit cards for normal in-person spending being close to worry free. This will probably take quite a while though.)
Sorry to hear of your troubles.
As I understand it, using Debit does not give you same protection as using Credit card. While I'm in principle against, using prepaid cards (ripoff IMHO), there are some out there that reduce or eliminate some (maybe most) fees if you set up direct deposit.
At any rate, even with a small income one should try to get some sort of credit history and set up even a low credit limit credit card ASAP.
We do have some real experts in this forum, and hopefully they can chime in.
And as a last point, there are many, many ways to scam a debit card, and not necessarily online. ATMs, restaurants .... the list in Looooong
As I understand it, using Debit does not give you same protection as using Credit card. While I'm in principle against, using prepaid cards (ripoff IMHO), there are some out there that reduce or eliminate some (maybe most) fees if you set up direct deposit.
At any rate, even with a small income one should try to get some sort of credit history and set up even a low credit limit credit card ASAP.
We do have some real experts in this forum, and hopefully they can chime in.
And as a last point, there are many, many ways to scam a debit card, and not necessarily online. ATMs, restaurants .... the list in Looooong
Anyway, while I'd also suggest getting/using a credit card whenever possible, there are reasons not to do so. (Example: previous bad debt history/bankruptcy and not trusting oneself to not repeat the same mistakes.) In those cases, I'd get a second bank account for day to day spending and convert the debit card for the first account into an "ATM" card; this basically prevents the card from being used online and at most stores/restaurants. Once a week or so, transfer money from your first account into your second one. That way, the impact from the card being stolen is minimal.
Oh, and only use PayPal for online shopping whenever possible. People like to complain about it, but they tend to be very pro-customer and if nothing else will hide your card number from stores that might not care much about security.
(Speaking of fraud, chip should hopefully make skimming far less common and may eventually result in debit cards for normal in-person spending being close to worry free. This will probably take quite a while though.)
Jan 22, 2017, 2:39 am
#5
Moderator: Manufactured Spending
Join Date: Jul 2011
Posts: 6,580
Most US websites don't participate in Visa and Mastercard's online security programs, so it doesn't really matter which bank you use. The problem is with the merchant, not the bank.
With that said, most banks have $0 liability for fraudulent transactions, so you should be able to get the transaction removed from your account if you report it timely. They will probably give you a new card with a new number.
Report it as fraudulent ASAP, and then don't worry too much about this. The banks and merchants have decided that it's more profitable to simply pay for the fraud that occurs rather than spend money fighting it. That's their choice and there isn't much you can do about it.
With that said, most banks have $0 liability for fraudulent transactions, so you should be able to get the transaction removed from your account if you report it timely. They will probably give you a new card with a new number.
Report it as fraudulent ASAP, and then don't worry too much about this. The banks and merchants have decided that it's more profitable to simply pay for the fraud that occurs rather than spend money fighting it. That's their choice and there isn't much you can do about it.
Jan 22, 2017, 5:04 am
#6
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,507
On that note, I'm seeing a lot of issuers heavily encourage their customers to join Visa Checkout and/or Masterpass. Those solutions might be the replacements for VbV/Securecode in the US market.