Mobility restrictions due to the pandemic have meant that online shopping has already become a more than usual form of payment in 2020. In fact, four out of 10 Spaniards (45%) affirm that they now buy more online than before the coronavirus, according to a report from Ipsos. And everything indicates that it will continue to grow with its sights set on the expected increase in online sales for Black Friday, CyberMonday and Christmas. However, fraudulent card operations have increased by 30% compared to last year, according to the Bank of Spain Claims Report, being online purchases the most affected, assuming seven out of 10 committed operations, explains the comparator HelpMyCash.com. Fortunately, banks offer solutions and optionsso that buying on the internet is safer.
Configure card security according to use
The first thing that we must know about the banks is the possibility they have for setting the limits of bank cards. Thanks to its new technologies we can change it through the app in just three minutes and modify it according to the purchases we want to make.
According to a market analysis carried out by HelpMyCash.com, six out of ten (66.7%) banking apps allow activating notices for purchases and thus be warned of any transaction that takes place in real time. On the other hand, eight out of 10 (83.3%) make it possible to block or limit purchases in foreign countries. In this way, it cannot be used if someone duplicates it fraudulently.
The most important, three out of four (75%) banking apps make it easy to block online purchases and activate them at any time immediately and in one click. Among the entities that offer this option are OpenBank credit and debit cards, with no annual fees, and ING cards.
Additionally, those of Bankia, both without annual commissions, allow setting a daily limit amount for online purchases.
Anti-fraud and anti-theft insurance included
Royal Decree-Law 19/2018, on payment services and other urgent measures in financial matters, obliges the entities that market the cards to have a policy that insures our money. Handle, for theft or fraudulent use, we will be covered.
In this way, if we make a purchase online with any of our bank cards and duplicate it, even if we do not realize it until we see the fraudulent charges, the bank must return the amount of that purchase to us. Of course, as long as there is no negligence in the protection of our card.
Additionally, credit companies usually include other free added insurance as an advantage. Although not all, some include online purchasing or purchasing insurance that will have more protection. For example, the WiZink Plus credit card includes a free online purchase insurance that will cover us before any contingency that occurs with internet purchases over 30 euros. In addition, it does not have annual commissions, it offers financing for three months without interest and it can be contracted without changing banks.
Cards created for ‘online’ purchases
Although the aforementioned measures apply to all bank cards so that any purchase is insured, the truth is that having a secondary card only for online purchases can save us many headaches, They explain from HelpMyCash.com.
For this type of utility, we can either use prepaid cards, which are not associated with an account number and which we will recharge at all times according to the purchase we want to make, or debit cards.
With the latter, BBVA has launched a very interesting alternative. Their Aqua cards, free for new customers of the Online Account Without Commissions, have a CVV number (the pin of purchases online) dynamic that will change every five minutes, which makes them safer to buy online. So yesIf the card numbers are compromised, they will be unusable, since the CVV will be different.
In any case, to increase the security of our purchases on the Internet, it is always advisable to spend a few minutes to find out what security options our card offers us or if it is better to have one to buy online no scares.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
