Hi, i currently have a posb saving acct and using posb atm card to withdraw/deposit money. With my application of dbs debit card, i was told my posb atm card would be nulled and the usage of it would be transferred to this new dbs debit card. May i ask after this change takes place, my account should still remain as posb saving acct right ? If so, whats the difference that this card offers over my previous (current) one ?
Nothing, other than the fact that it becomes a debit/atm card.
All that happens is that your debit card can be used as an atm card at ATM machines and for NETS payments.
so what exactly does the "debit" word adds on ? Because if NETS usage is "debit", then its just the addition of this "debit" word only ?
Yep, you get more functionability from the new card, because you can sign master, or even make online transactions now..
which means ur current atm card is now a debit card cum atm card aka 2 in 1..
which also means u can use paypal too & its impossible with just a normal atm card..
speaking of which, I haven't go & change mine yet..
oh ok thanks i see, so in that sense its the name thats misleading as my old posb saving atm card can also be used for nets
So cool hor, so now if you lose it, there is an even higher chance someone could spend with it before you report it.
Originally posted by stellazio:Yep, you get more functionability from the new card, because you can sign master, or even make online transactions now..
does this now increases any risks should i lose my card ?
Of course, with greater convenience always comes greater risk. You could ask for a lower debit limit to control the damage.
For my case, i swapped back to the plain old atm card because i don't use any of its funky new capabilities.
Originally posted by ditzy:So cool hor, so now if you lose it, there is an even higher chance someone could spend with it before you report it.
i think the chance is the same, if the person somehow can get your PIN, even without all these extra ways of 'spending' from your accounts would still be able to deplete it. (ie. withdraw all/buy something with NETS)
No, because your card can now be used to sign..And being a debit card, the money is deducted straight away..
Originally posted by stellazio:No, because your card can now be used to sign..And being a debit card, the money is deducted straight away..
used to sign what? erm master ? How does signing things like master creates any more risks? And what do you mean deducted straight away ? Isnt NETS deducts made straight away too? Pardon for all these newbies questions lol.
Originally posted by Kirin_Rider:
used to sign what? erm master ? How does signing things like master creates any more risks? And what do you mean deducted straight away ? Isnt NETS deducts made straight away too? Pardon for all these newbies questions lol.
Yes its also a mastercard, and since you know that the back of your card is normally signed with your signature, he could just do a copy of it and sign for purchases. Whereas if its just an atm or nets card, he would need to know your pin number to be able to make purchases..
Originally posted by stellazio:Yes its also a mastercard, and since you know that the back of your card is normally signed with your signature, he could just do a copy of it and sign for purchases. Whereas if its just an atm or nets card, he would need to know your pin number to be able to make purchases..
i dont think there is any signatures...i know there is name, but i have never given signatures to my posb bank but only thumbprint.
Originally posted by Kirin_Rider:
i dont think there is any signatures...i know there is name, but i have never given signatures to my posb bank but only thumbprint.
you sign the back of your card with your signature la..
Originally posted by Kirin_Rider:
used to sign what? erm master ? How does signing things like master creates any more risks? And what do you mean deducted straight away ? Isnt NETS deducts made straight away too? Pardon for all these newbies questions lol.
masters
there is the possibility that one could pick up any card on the street and forge a similar signature at any departmental stores
deducted immediately, in fact; similar to nets.
You could use the debit card to buy online stuffs; this again will be a risk if anyone has access to the numerical digits of your card.
Originally posted by Kirin_Rider:
i dont think there is any signatures...i know there is name, but i have never given signatures to my posb bank but only thumbprint.
No, for credit cards, they are signed. Yes for usual old accounts, it can be either.
i have dbs visa debit, for my POS and online purchases
i have the go! enhanced atm card for pressing money
no conflict.