Money management

Making the most of your debit card

These hints and tips will help you to make the most of your debit card, avoid potential pitfalls – and make your life easier at the same time

Make sure you always know your current account balance and how much you can spend – pop your card into your bank’s cash machine and you can check any time.
Keep your receipts and check them against your monthly statements so you will see quickly if something is wrong.
Many accounts can be checked online, so you can keep an eye on your finances whenever you’ve got Internet access. If your bank offers this option, it’s worth signing up.

Some debit cards have daily limits on the amount you can spend or withdraw in cash. This is a precaution against fraud, in case your card and PIN get stolen, but it is a good idea to ask your bank what limits it imposes. You may be able to get them raised or lowered to suit your individual needs.
If you have a pre-arranged overdraft, make sure you do not exceed it or your card could be refused. You could also end up paying penalty fees.

Some banks charge the customers of other banks for using their cash machines, so plan ahead and use one that is free – ask your bank for a list. You can also get cashback when you use your card in a shop.
Debit cards are a safe and convenient way to pay when you are on holiday but there can be currency exchange charges, just as there would be if you exchanged cash for local currency. A debit card may well be cheaper than using a bureau de change. Ask your bank about charges in advance, so you can include them in your budget.

Keep your personal identification number, or PIN, private. Do not write it down, never share it with anyone and make sure nobody is watching when you use it – if you suspect that someone else has discovered it, change it immediately.
Do not give criminals a gift of valuable personal information – dispose of your old statements, bank correspondence and other financial documents carefully, preferably by shredding them.
If your bank offers to alert you by text or e-mail when a transaction takes place on your account, sign up – it reminds you to stay in control of your spending and will warn you if anything suspicious is going on.

Tell your bank if you are going on holiday, or a sudden flurry of international transactions may make them suspect a fraud and prompt them to block your card.
If you know you have a lot of extra expenditure coming up, make sure you have enough money in your account to cover it – the alternative is an expensive unauthorised overdraft or the embarrassment of declined transactions.
Some outlets, such as hotels, will authorise your debit card to check that you are good for the money but may not complete the transaction until they know the final cost, which may be several days later. Make sure you have enough set aside to cover delayed transactions.

You can claim back money back spent on a Visa debit card if you are the innocent victim of fraud – just be sure to let your bank know as soon as you’re aware that your card is missing or anything has gone wrong.
You can also have a right to ask your bank to make a chargeback, returning your money if you do not receive goods or services as expected, if goods are lost or the wrong goods are received. That covers pretty much anything you can think of, from an airline going bust to a mail order jumper that does not arrive. Most purchases made abroad are also covered.
If you shop online, register with Verified by Visa. This simple system protects your card data with a personal message and your own password. Keep them secret and nobody else will be able to use your card. Verified by Visa protection is in force at more than 250,000 shopping websites and more are joining every day.