Lifehack from a bank employee. Plastic cards. Part two.

In the first article we looked at the types of plastic cards and the principles that should guide our choice. Next you need to know the risks of using non-cash payments, as well as tariffs and services provided by the credit institutions. We always want to weigh all of risks in using non-cash (non-cash) payments. I will not deny the risk of card usage, because all the information on the magnetic card carries a line or a chip. It should be noted that it is desirable to choose chip cards. Chip – a small gold plate, with which is equipped the card and it is safe. Magnetic Line – a black ribbon on the back of the card, and it is not as safe because it is easier to hack information from it. If your card does not have a chip, do not trust it to attendants in cafes, restaurants and shops. When paying, demand that the payment of service should be made in your presence and, more importantly, do not give away the card. Fortunately, almost all of cashless payment devices in our time can be used without being connected to the grid. Chance of stealing information from plastic cards is particularly prevalent in foreign countries.

Why you should not trust anyone your card?

Card information is stored not only on the chip or on the magnetic lines, but also on the card itself – namely, the 16-digit card number, expiration date, owner’s name and the three-digit CVV code on the back side. If a person has information of your card, he will be able to use it without the physical presence of the card. Moreover, some sites accept payment without the CVV code, which means that your money is not in safe if anyone knows the 16-digit card number. Therefore, we strongly recommend do not leave the card on sight near untested and trust people. You should also protect your money when you make online purchases. First, I recommend that you only use trusted sites, and secondly, to put on a plastic card only the amount you want to pay. For online payment, you can get an online card, which does not have a chip or a magnetic line and can be used only on the Internet, but not at ATMs. So then you need to know how to put money on the card and where it can be done. The easiest way is to apply at a branch of the bank where the card was ordered. But the question arises, what to do in the holidays when you have an urgent need to make the payment, and the funds on the card is not enough. There is a convenient way to refill your balance – using the cash-in ATMs. Only a few ATMs in our city have this feature, so you should ask in advance where such ATMs are located. This feature also eliminates the need to stand in line at the cash register. Many of my friends are interested in what to do if the card was blocked, stolen, lost or you forget the PIN. The main rule is to not panic! To unlock the card can be simply and it is only needed to contact the credit institution and this service will cost from 1.5 to 2.5 AZN. Stolen and lost card can also be locked with the help of a bank or by contacting the processing center, the number of which is indicated on the back of the card, if you know your personal identification code. Personal code is a requirement for such cases and it may consist of letters and numbers, and must be specified when ordering the card. Be sure to write it by yourself. It may even be your name, surname or date of birth. If you have forgotten your PIN code you can resolve the problem, too, and it will be easy. In some banks you will be given at the request another pin, and if this is not possible, you have to order a new plastic card.

How to save money?

It is important to examine the tariffs on transactions. This means to know how much this or that operation costs. There are a lot of useful services, which, oddly enough, many people are unfamiliar. Here’s the short list:

1) SMS-notification. otherwise the SMS notification. It is a cheap function (it costs from 1.2 to 2.5 AZN), and you can connect to it from any ATM. When you connect you will receive SMS messages with information on all transactions with your card.

2) Card-to-card. It is a good service, with which you can transfer money from one card to another. A big plus is that when making a card-to-card transfer on the AZN currency the course will be considered in accordance with the policy of the Central Bank, and it is lower than at any offered in Exchanges. In addition, it is a quick method to transfer money abroad. It should be noted that the function applies only on plastic cards of local banks.

3) Mobile or internet-banking. You can manage funds from the internet or mobile phone. Rates are different. This is an easy method to make online transactions and check balances on your cards on the Internet.

4) Discount programs – discounts that you receiving in the shops, restaurants and other commercial and service enterprises. If the bank has a discount program, you get a discount when you pay cashless.

5) Priority Pass. Card with priority pass – this is an additional privilege for premium cardholders (Visa or Master Card Gold, Business, Platinum, Infinite), which provides the right to enjoy all the privileges of VIP and business lounges of international airports, regardless of the airline. It suits to those who like to travel without the hustle and bustle. Priority Pass card can be purchased in a package with a plastic card and the service is not cheap.

6) Design card. Many banks offer cards with a special design that you choose. This could be a good gift and will cost between 20 and 40 AZN.

7) Conversion and multi card. If you are the owner of a multi-currency card, you can use it in different currencies. Conversion – is an optional feature, with which you can use a plastic card in any currency, regardless of the currency in which it was ordered. However, the service is not free, is from 0.3 to 1.5% of the amount.

Why you should use plastic cards?

I think that a small amount of cash is always useful, but the cards will save you from having to carry large sums of money in your pocket and secure against theft and loss. They will also help you to pay for any service, not leaving the house, and therefore save your time. And time, as you know is money.

Source: Urban.az