About 20 years ago some large amounts of money were stored traditionally at home: in a refrigerator, under the pillow, in wardrobes, or in other places which we won’t even guess. Now savings can and should be stored in a bank.
Obtaining a card is not possible without trust between a person and a bank under official agreement. In case of theft of funds from the card due to the bank negligence, you need to contact its support service and apply for the return of the loss. After all, financial security is the basis of financial independence, which every modern person strives for.
How a Credit Card Is Protected:
- by unique magnetic strip or build-in chip with bank and personal data which can be read by special equipment not easy to manufacture;
- by PIN and CVV codes – special number combination for verification while performing an offline or online operation;
- by mobile banking which envisage SMS notifications to your smartphone about all transaction on your card account, including alerts;
- by personal photo, name and the second name which could be proved by ID;
- by reliability of bank which will not go bankrupt unexpectedly.
Because of carelessness or ignorance, people often simply pass their PIN to the third parties, who then steal their money by different methods:
- it is possible to find out the secret numbers combination (in person, for example at the supermarket cash desk, or by hidden video camera) and then steal a card from your bag or your pocket;
- one can disclose your secret code under several circumstances for future online scamming.
This is why it is strongly recommended to subscribe to the Mobile banking which almost instantly report you about suspicious withdrawing money from your account by SMS or via other messengers.
Here, the security service of the financial establishment has to take responsibility for safety of the account and timely reporting. Overall, considering all the risks and peculiarities, it can be stated that the storage of money on plastic bank cards is also very unsafe. However, this method is still safer than if your money is simply stored at home between the books.
Since the plastic card can get lost, or it can be stolen along with your handbag, it is better, of course, not to store a lot of money on one credit card. It is better to distribute it to different card accounts and banks.
Don’t keep a large amount of money on one single card, and impose a daily limit for payment and cashing in. If you are going oversea, it is 100% better to store money on one or several cards. This is very convenient, because it occupies minimal space, and you won’t have to carry bundles of cash with you. Plastic cards in this respect are many times safer than big wallet in pocket. This is especially true when you have to pass the customs on border, and when you arrive to another state.