ATM or Automated Teller Machine is a revolution in the world of banking. ATM banking offers the customers with convenient and efficient self-service banking options like cash withdrawal , money transfer between account, account balance inquiry, new cheque book order, bill payments and many more.
When the first ATM was installed in 1987 by HSBC in India, the only function of the machine was to dispense money. With technical advancements over the following years, ATMs today serve multiple functions. Special features have now been added to the machines, for instance the voice-guidance facility for visually challenged customers.
Regardless of all the benefits, using an ATM can make you extremely susceptible to theft and frauds.
Imagine there is an emergency and you need cash at 2:30 AM. What would you do? You have no option but to go to an ATM, because banks would be shut at that time. No doubt you would be a little scared as you never know who would be lurking around to burgle you of your money. This risk increases10 times if the ATMs are at unfamiliar and deserted areas.
ATM Skimming: A New Threat
ATMs today are under limelight more than ever, for the threat of skimming. “ATM Skimming” is a mischievous device attached to an ATM by the criminals. When we use an arbitrated ATM, the skimmer creates a copy of the ATM card and seize your PIN. Worst of all, even though skimming isn’t a new threat, banks are still too slow to follow anti-skimming measures.
Methods To Protect your ATM Banking
Safeguard your PIN
Often in case of ATM skimming, hidden cameras are installed in a way that they can easily catch your PIN. Make sure that there are no cameras at unusual places on the machine. Cameras are NOT supposed to be ON the machine. Also, DO NOT share your PIN with anyone.
Avoid using unfamiliar, damaged or deserted ATMs
It is advisable to not use ATMs which are at dim-lit places. Also, avoid using ATMs at late-night hours. You should always keep some cash handy for emergency situations, so that you don’t have to rush to ATMs at odd hours.
Invigilate your account balance frequently
You should always keep a regular check on your account balance. Any discrepancy should be reported immediately. You should also enable email and SMS alerts of your transactions.
Ways to spot ATM skimming
Here are some of the ways to spot ATM skimming
- If you try to shake the card reader at an ATM and it moves easily then something is probably wrong.
- If something seems unusually wrong with the ATM machine, then there may be some problem. The same should be immediately reported.
- Also, if there is a camera on the machine, too close to the keyboard, then it might be a possible case of ATM skimming.
One can avoid skimming by being alert and once you spot something fishy, do not hesitate to report the same to the bank authorities.
Simply using your common-sense and by being alert, you can save yourself from being duped. Happy and Safe Banking!
Recommended Read :
- What is ATM Banking?
- What is An ATM Card? How to Use Your ATM Card?
- What is a Debit Card?
- What is ATM Skimming?
- Cdm Banking How to Deposit Cash in a Cdm Machine
- Lost ATM Card Steps to Take After You Lose Your ATM Card
- Beware of ATM Thief – Methods to Protect Your ATM Banking
- Safe ATM Banking Methods to Make ATM Banking Safe