He use of cards making payments is an increasingly common practice in Spain, accepted in most stores, restaurants and other establishments. However, the Bank of Spain has issued a warning about the importance of paying attention to card transactions. There are mainly two types of cards: credit and debit. Credit cards allow users to spend money that they must repay with interest, while debit cards use the funds directly from the bank account. Although cash remains the most used payment method in Spain, many people prefer digital options, such as pay by mobile.
He Bank of Spain points out that although we often ignore the offer to receive a receipt, it is essential to do so. By refusing the copy, you run the risk of not having proof of payment. Especially with payments where no PIN is required transactions up to 50 eurosmistakes can easily be made. The entity reminds that in the event of loss or theft of a card, banks only reimburse expenses exceeding 50 euros made without consent. It is therefore advisable to always check the amount on the terminal screen before making the payment and keep the receipt. It is also advisable to frequently review account movements and activate online banking notifications to be aware of any transactions.
The recommendation of the Bank of Spain when paying by card
Card payments, whether credit or debit, are a common target for fraudsters, with almost a million frauds reported each year. The most common scams include online shopping (77%) and in physical stores (20%), theft, loss or duplication of cards being the main causes of these crimes.
It is essential that users do not make the work of criminals easier. Very often, they fall into the trap of scam websiteswhere they unwittingly share their banking details. The consequences are devastating: not only are you left without the product, but fraudsters can also use the information to make additional purchases.
Even if banks have the responsibility to reimburse in the event of theft or fraudthere are exceptions. For example, if a customer loses their card, they are responsible for the first 50 euros of unauthorized spending until they notify the entity. If 500 euros have been spent, the bank will only reimburse 450 euros until the card is canceled. However, if the loss is reported before unauthorized charges are made, a full refund will be provided.
The Bank of Spain highlights the importance of check the amount when making payments, suggesting that you always pay attention to the terminal screen and accept the receipt to have proof of the transaction. This is particularly crucial with contactless payment methods, which do not require a PIN code for amounts below 50 euros.
The most common frauds
Currently, as the authorities warn, there are different types of fraud related to the use of credit and debit cards, namely phishing one of the most common, where fraudsters send messages that appear to come from legitimate institutions to steal personal and banking data. Another technique is skimmingwhich involves installing devices in vending machines to capture card information.
Theft and loss of cards These are also serious problems because scammers can make purchases before the owner realizes it. Although banks generally reimburse unauthorized charges, the owner is responsible for the first 50 euros until they report the loss.
THE fraudulent online purchases They pose another significant risk, as fraudsters create fake websites that collect banking information without delivering products. Likewise, the use of stolen cards for online shopping has increased and consumers should be alert to unusual fees.
He identity fraud This happens when one person uses another person’s personal information to make transactions, which can be devastating. THE sales scams They are also common when scammers request advance payments and disappear. THE hidden fees in transactions is another issue that needs careful attention.
THE card cloning is a technique in which fraudsters copy information from a legitimate card. Finally, the social engineering techniquesI am used to trick people into revealing sensitive information by pretending to be bank representatives.
For protect yourself from these fraudsIt is essential to always verify transactions, use secure payment methods and review account statements frequently. Maintaining a vigilant attitude is essential to protecting financial information in an increasingly digital environment. Additionally, enabling transaction notifications can help detect suspicious activity immediately.
