Why should you avoid linking your debit card to digital platform on your smartphone?

The digital landscape is expanding rapidly with new innovations and several user-friendly features.

However, many people are facing financial losses and privacy breaches, especially on social media platforms.

Recently, a financial advisor issued a warning about the risks of linking debit cards to digital wallets like Apple Pay.

According to a report by the New York Post, there is a high risk of unauthorised transfers if someone gains access to your phone, potentially compromising your personal information.

The report highlights that linking debit cards to digital wallets poses a greater risk as they are directly connected to savings accounts, making it easier for attackers to steal funds.

To mitigate these risks, the financial advisor advises removing debit card details from platforms after claiming offers.

It is crucial to exercise caution when using debit cards online.

Here are some tips to safeguard your accounts from cybercrimes:

1. Regularly monitor your bank statements and transactions to detect any unauthorised payments.
2. Memorise your PIN and avoid writing it down or storing it digitally.
3. When shopping online, opt for websites with secure connections (https://) and verified payment gateways. Take time to research platforms before making purchases, especially when using debit cards for low-priced items.
4. Set transaction limits on your debit card to limit potential losses in case of unauthorised use.

By following these precautions, you can better protect yourself from financial fraud and safeguard your personal information online.

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