Always save your PIN for ATM transactions only!

Many credit and debit cards boast zero fraud liability but there are fundamental differences in the legal obligations of issuers to cover fraud losses between credit cards and debit cards. Additionally, zero fraud liability may only apply to signature-based debit transactions for certain card brands.


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Press Release:Use your ATM PIN only at ATMs or You'll Pay the Price

Red Bank, Sept. 1, 2008 /The FraudBlog Newsletter/ - Every time I speak publicly, or when I tell people what I do for a living, I get asked this question: "When I use my debit card for a purchase should I run it as credit or debit?" 

My answer has always been to use your credit card or your debit card, as a credit card, but save your pin for ATM transactions only. For us in the business we generally understand our rights and level of protection, but I would imagine few of us really understand the actual legal rights and limits for each payment type.

If fraudsters strike, you often have stronger protection with credit cards than with debit cards. With credit cards, under federal law, you're liable for no more than $50 if fraud occurs, though most issuers don't hold you liable for even that much. With debit cards, your maximum exposure is $50 if you report it within 48 hours. Report it after two days, and you could be liable for up to $500. Take longer than 60 days, and you could be responsible for the entire dollar amount of fraud.


About The Fraud Practice

The Fraud Practice,, is a privately held US LLC based in Sarasota, Florida. The Fraud Practice provides consulting services on eCommerce payments, fraud prevention and credit granting as well as prepared research and online training for payment and fraud professionals. Businesses throughout the world rely on The Fraud Practice to help them build and manage their payment, fraud and risk prevention strategies. Utilizing best practices and leveraging key partnerships, our team of industry and technical experts offer customers a single source for learning how to design, deploy, review¬† and integrate fraud prevention practices in their business processes and solutions.


The Fraud Practice LLC
David Montague,
President and Executive Consultant
Toll Free: +1 888-227-0402


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