Some things, like your financial details, for instance, are better left unrevealed. Sharing such confidential information with someone can prove dangerous. So, be wary!
Sharing is caring may be relevant in a great many instances, but it doesn’t hold true when it comes to finances. Financial details, we believe, should not be shared with anyone – not even your spouse and kids. Here are the top five financial details that you must never reveal to anyone, ever!
Your Credit/Debit Card Details
Your Credit/Debit Card has certain sensitive information such as your full name, the card number, and expiry date displayed prominently on the card face. However, you should remember that these details are printed on your card for your use, and not to be shared with anyone. You should not share these details with anyone, ever. Mainly because these details serve as the first level of security when you are making online transactions using your card. Without these details, you or anyone else cannot carry out transactions using your card. So, kindly do not reveal these details to any unauthorised persons.
Your CVV Number
At the back of your Debit/Credit Card, you’ll find a three-digit number which is called CVV or Card Verification Value. This number is extremely important to complete most transactions that you make online. Transactions without this number may get declined. So, just like your other card details mentioned earlier, make sure that you do not share this number with anyone too.
Your Netbanking Details
While net banking offers a wide variety of advantages, there are, of course, a few risks associated with it too. For instance, if someone gets access to your net banking customer ID and password, they gain access to your bank details and can even carry out transactions. So, never ever share your net banking details with anyone. And, also, do keep changing your net banking password frequently and make sure that the password is a strong one always.
Additional Reading: Love Sharing Things Online? Don’t Share Your Credit Score!
Your Credit/Debit Card’s PIN (Personal Identification Number) is required at ATMs to withdraw money and at merchants to complete a transaction. Of course, with contactless cards gaining popularity, you can make transactions (less than Rs. 2,000) at merchants by just waving your card to the Point-of-Sale (PoS) machine. However, your PIN is still an important security feature and you must not share it with anyone at any cost. Also, please be careful while entering it at ATMs and PoS machines – ensure that no one is trying to peek.
OTPs or One Time Passwords are a recently introduced security feature for online purchases, which serves as a second-factor authentication tool that’s prompted after you’ve provided your card details, PIN or CVV number. This numeric password is usually sent to your registered mobile number or email ID and serves as the last level of security before the transaction is processed.
Even if all your confidential details have been compromised, the hacker will not be able to complete transactions without the OTP. Hence, do NOT ever provide this OTP to anyone, not even your bank or service provider. Such confidential details are usually never asked by banks and financial service providers. So, be wary if anyone were to ask you for it.
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*First published on 19 July, 2019.
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