Please Do These 2 Things Immediately You Received OTP For Debit Transactions You Didn’t Initiate

I have early educated you in one of my articles that Fraudsters have started opening POS centers to steal people’s ATM card information. One of the methods I know they are using in stealing people’s ATM card information is by snapping their ATM cards. If you are the type that patronizes POS centers, you don’t have to be scared, you just need to be careful. You can even choose a trusted POS agent in your area where you will be using your ATM card.

Do you know that fraudsters are now using people’s ATM cards to shop online after getting the card numbers? They will initiate a debit transaction and the One-time password (OTP) will be sent to the cardholder. Fraudsters have grown in knowledge, whether you give them the OTP or not. The money will be debited from your account.

It’s really painful seeing people around me getting scammed every day. I’m a POS agent and I will always use my writeup to educate people on how they can get scammed. Please also read to learn. Don’t say something is not possible, only you have not experienced it before.

Please Do These 2 Things Immediately You Received OTP For A Debit Transaction You didn’t Initiate

2. Block Your ATM card Immediately.

There is no way a debit transaction will be initiated on your bank account that you won’t receive OTP to authorize the transaction. But if a fraudster initiated it and you didn’t act fast, your bank account can be debited. If you quickly block your ATM card, the transaction will be declined. Banks have provided different methods to quickly block our ATM cards, but the fastest method is using your Bank Application. Log in to your bank Application and click on Menu, select My Cards and block the card.

Photo: Illustration of how I can block my ATM card from my Bank application. Check your own Bank application. You will see it.

2. Transfer Your Money to Another Bank Account

After blocking your ATM card, please don’t depend on that only, fraudsters have different methods of wiring money from people’s bank account. Transfer All your money to another bank account to be assured that nothing is going to happen to your money.

Then, after you have done these two things, call your account manager or bank customer care to notify them. Please don’t call your account manager before blocking your ATM card and transferring your money from the bank account. I have a reason for that.

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