As long as you’ve got the plastic handy and are comfortable making virtual transactions, it’s a very straightforward process to use a debit card online – but paying with a credit card may be safer.
You’ll need to reference your physical debit card when using it to make a purchase online. After entering the digital shopping cart on the seller’s website:
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The name you enter should match your name as it appears on the debit card. Merchants use this to cross-check your information with the credit card provider’s records.
Using a debit card to pay online is generally safe as long as you have a secure connection. In May 2020, online sales accounted for a third of total retail sales in the US. Consequently, the safety infrastructure in place is growing stronger and stronger.
Here’s what you can do to verify security:
Keep in mind that there are always risks associated with making debit card payments, and it’s likely easier for thieves to intercept your information online than in person. If hackers do get access to your debit card information, they could steal funds from your current account.
Although banks take precautions to protect your information, there is always the possibility of a hack. If you notice any suspicious or unauthorised withdrawals from your account, let your bank know immediately. Some banks give customers the ability to “freeze” their card immediately from within their banking app, thus preventing any further transactions.
In general, it’s less risky to use a credit card for everyday purchases because credit cards aren’t linked directly to your current account. This means you can cancel a transaction before the money is withdrawn from your personal account.
Credit card companies tend to be more lenient with fraudulent transactions, and some credit card providers also offer extended warranties on purchases. You’ll also have the law on your side if you shop online with your credit card and the items you order are faulty or don’t arrive at all. Section 75 of the Consumer Credit Act 1974 makes your credit card company assume the same risk as the retailer. In short, this means that if there is a problem with your purchase and it isn’t your fault, you can usually claim a refund from your credit card provider.
If using a debit card is your only option to make a payment online, make sure you’re comfortable with the risks associated.
Using a debit card is convenient and generally safe, although it’s not risk-free. If you’d rather use a credit card, find a provider that offers special perks like cashback and rewards.
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