Debit card security safety

Debit card security safety

Amarillo, TX - If you use a debit card your financial information may be at risk.

There has been a lot of concern about debit card fraud, after Target's recent security breach.

Financial experts say the increase in debit card usage over credit cards is a good thing because it means shoppers are trying to spend no more than what they have in the bank.

But they say, debit cards are not as safe as credit cards.

An electronic banking professional at Amarillo National Bank, Stewart Dodson, says there is always a risk involved.

"There is a risk because you don't know how well the merchant is taking care of all their payment processing. So I think just know what your liability is at the end of the day and know what you can do to get the money back incase you do have a loss. That is kind of the best thing you can do."

Dodson recommends checking your banking account consistently to prevent fraud and to always communicate with your bank.

"I think just reaching out to your bank and knowing what options are there. Maybe it is not a debit card you want, maybe it is a credit card, or maybe it is a prepaid card. I think you should just know what all services the bank has to offer you and knowing what you have and being familiar. And accesses that, log into the information and see that in real time and report that. That way you can minimize the risks you can potentially have".

Dodson says there may be some relief in the future to the current increase in debit card theft.

"Within in the next few years we will have a chip on the card to where a lot of this fraud will go down. And hopefully you know, if there is a silver lining in something like this it is that it will speed up the process and people will say this is a problem we need to fix it."

Europe and Canada are already using a chip in their debit cards.