Reported by Jessica Merritt

How Can Someone Use my Debit Card Without Having It?

Thieves can use your debit card information to create a duplicate card even if you haven’t lost it. These are some of the ways thieves obtain debit card information:

• Card skimming. Criminals can steal your card information from an ATM or point-of-sale terminal compromised by a card skimming device.
• Breaches. An online data breach could expose your debit card number. 
• Unauthorized access. Someone with unauthorized access to your bank account could see your card details.

Are You Liable for Unauthorized Debit Card Purchases?

In most cases, federal law limits your liabilityfor unauthorized debit card purchases to $50, provided you report the fraud within two business days of discovering it.

If you report debit card fraud after two business days, but less than 60 calendar days after receiving your account statement, you could be liable for up to $500. If you don’t report the fraud within 60 calendar days of receiving your statement, you could be liable for any amount stolen from your account.

You should regularly review your bank statements and report any unauthorized transactions immediately.

How to Protect Your Debit Card From Fraud

The stakes are high with debit card fraud, as thieves can wipe out your entire account with no way for you to get your money back if you don’t report the fraud in time. While no one is immune to debit card fraud, you can take these steps to limit your potential for card fraud:

• Secure your physical card. Keep your debit card in a secure place, and don’t share your PIN.
• Be cautious at ATMs and payment terminals. Look for skimming devices attached to ATMs or payment terminals. Bank ATMs may be more secure than ATMs at stores.
• Turn off overdraft protection. Some banks offer overdraft protection, which allows transactions to go through even when you don’t have funds to cover them – and this could dig you into a money pit if a thief makes charges on your account.
• Use secure online banking. Use a secure connection when you access your bank account.
• Be alert for phishing scams. Always verify the authenticity of the source before providing any sensitive information.
• Set up alerts and monitor your account. Use alerts to get notified of unusual activity, and check your account regularly to detect unauthorized transactions or suspicious activity. 

Read full report: https://money.usnews.com/banking/articles/are-debit-cards-protected-from-fraud