Will that be debit or credit?

You just swiped your debit card – should you choose debit and enter your PIN, or sign for credit?

Did you know you are more susceptible to an attack if you use your PIN?  When you choose debit, you could fall victim to PIN harvesting by a “Man-In-The-Middle” attack.  Fraudsters can intercept your information and PIN as it passes through the electronic network.  They can then use that information to create a fake debit card and withdraw your money using your actual PIN.  Even if a transaction was fraud, it is a lot harder to recover those funds when a PIN was used.  

If you are looking for a safer way to make your transactions, choose credit and sign rather than entering your PIN.  Signing at POS prevents PIN harvesting from happening.  Also, signing for your transaction gives you additional protection from VISA or MasterCard.  All HCCU debit cards carry VISA Zero Liability coverage for signature transactions that will cover you in case of fraud; PIN-based transactions do not receive the same level of protection.

So whenever you can, choose credit and sign on the dotted line rather than punching in a PIN code for purchases.

Post by: Lori S