ATM Safety Tips: To ensure safety during ATM transactions, check top essential safety tips
Unauthorised transactions or theft during ATM transactions can lead to significant financial loss for individuals. This loss can impact their financial stability and well-being, especially if the stolen funds are not recovered promptly. Your safety and security are paramount during ATM transactions. Always prioritise caution and follow certain safety tips to minimise risks.
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In India, where millions of people use ATMs every day to access their money, the risk of fraud is significant. Unauthorised transactions or theft can result in the loss of hard-earned money, which can be particularly devastating for those who rely on their savings for daily expenses. Additionally, recovering stolen funds can be a lengthy and challenging process, causing further stress and inconvenience. By following ATM safety tips individuals can protect themselves from potential fraud and ensure the security of their finances.
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To ensure safety during ATM transactions, here are some essential safety tips:
- Choose Secure Locations: Use ATMs located in well-lit, populated areas or within bank premises. Avoid secluded or dimly lit ATMs, especially during late hours.
- Inspect the ATM: Before using the ATM, check for any suspicious devices attached to the card reader or keypad. If the ATM looks tampered with or damaged, refrain from using it and report it to the bank immediately.
- Cover PIN Entry: Shield the keypad with your hand or body while entering your PIN to prevent others from observing or recording your PIN number.
- Beware of Shoulder Surfing: Be cautious of individuals standing too close or lingering around while you conduct your transaction. They may be attempting to observe your PIN or steal your card details.
- Keep Transactions Private: Refrain from discussing your transaction details or displaying cash received from the ATM in public. Keep your transaction receipts secure and dispose of them properly.
- Secure Your Card and Cash Promptly: Once your transaction is complete, ensure you securely stow away your card and cash before leaving the ATM. Avoid counting cash in public view.
- Monitor Your Account Activity: Regularly review your bank statements and transaction history to identify any unauthorised transactions. Report any discrepancies or suspicious activity to your bank immediately.
- Enable Transaction Alerts: Set up SMS or email alerts for your bank account to receive notifications for any transactions made with your card. This can help you monitor your account activity in real-time.
- Report Lost or Stolen Cards Immediately: If your ATM card is lost or stolen, notify your bank immediately to block the card and prevent unauthorised use.
- Stay Alert and Trust Your Instincts: Trust your instincts and remain vigilant while conducting ATM transactions. If you feel uncomfortable or suspicious, abort the transaction and find another ATM or visit your bank during business hours.
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Additional safety tips:
- Change your card’s PIN regularly.
- Never keep the PIN with the debit card or write it on it. Always memorise it.
- Do not provide the card and PIN details to anyone, including Bank / IBA / RBI / Govt. agency/family/friends, etc. Banks or any other institution will never ask for this information.
- Do not let strangers enter the ATM room or assist in completing transactions.
- Do not discard your transaction slip in the ATM room as it contains your account information.
- Always wait until the ATM returns to idle mode and the green light is blinking.
- Insist on swiping your card in your presence in hotels/shops/malls, etc.
- Never swipe/tap your card at POS machines placed at unknown temporary stalls.
- Block and destroy your old card when you get a new one.
Banks and financial institutions have a responsibility to implement security measures to safeguard their customers’ interests. Compliance with regulatory requirements related to ATM security helps prevent financial crimes and protects consumers.
