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10 debit card dos and don’ts to keep your money safe

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You're the proud owner of a brand-new debit card — congratulations! Now, your mission is to keep it safe. The good news is that there are some best practices that will help you as you get started using your debit card. In this guide, we’ll explain what you should do with your debit card — and some things you should avoid.

6 debit card dos

Let's start with some debit card dos for keeping your debit card safe:

1. Choose a PIN you’ll remember

Your debit card’s personal identification number, or PIN, is a numeric code (usually four digits) that is used to verify your identity when you're using your debit card to make a purchase or withdraw money at an ATM. It's really important to pick a PIN that you will remember but won't be obvious to anyone else. A good rule of thumb when you’re trying to come up with a PIN is to avoid obvious sequences like 1234 or 5555.

2. Keep your card in a safe place

Keep your debit card in a secure location that you can easily remember. Generally, the best place for a debit card is in your wallet, where it's secure and easy to find. Avoid the temptation to just chuck it back into your bag or pocket after using it — putting it back in the same place in your wallet can save you a headache in the future.

3. Check your balance often

A debit card is not like a credit card, where you have a set balance and can spend up to that balance without your card being declined. Your debit card has only the funds available in your checking account. So, it's really important to check your account balance often and not make any purchases you can't afford. The best approach is to think of your debit card like cash so that you don't spend what you don't have.

4. Use secure ATMs

You might think an ATM that looks banged up or suspicious might be the only ones to avoid, but sometimes, even normal looking ATM machines have been tampered with. Card skimmers (devices that steal data from your card) are among the biggest threats to ATMs. If the card reader part of the machine looks off or if your card gets stuck when you try to insert it, stop and find a different ATM to use.

5. Enable alerts

One smart debit card move is to turn on notifications in your account so you receive an email or text when your balance reaches a certain amount. This helps you stay aware of what you’re spending. Alerts also give you a heads-up on any unauthorized transactions.

6. Set a budget and track expenses

Remember how we mentioned treating your debit card like cash so you don't spend what you don't have? Well, one really great way to stay on top of this is to set a budget and track your expenses. You can do this by using an expense-tracking app, keeping receipts and checking them against your account, or even going old-school and jotting down your expenses in a notebook. If you’re new to budgeting, these basic principles of budgeting will help you get started.

4 debit card don’ts

Here are four things you don’t want to do with your debit card:

1. Don’t share your PIN (or your debit card!)

It's really important that you keep your PIN to yourself and not share it with anyone. This helps prevent fraud and keeps your money safe. Sharing your PIN with someone is like handing over all your cash and walking away. And while we’re talking about not sharing, keep your debit card to yourself, too. Certain stores allow card usage without a PIN, so take steps to safeguard it.

2. Don’t fall for phishing scams

A phishing scam is when someone sends you a message that looks like it’s coming from an official source (like your bank) but is really a fake message to try to get you to click and share your personal data. So if you get a weird message asking for your PIN or account info, don’t click it — your bank will never ask for that information in a text or email.

3. Don’t use your card at shady stores

Your debit card is usually safe to use at most trusted brick-and-mortar stores, but be extra cautious when shopping online. Just because a website appears to sell an item you want and there's a place to enter your debit card number, does not mean it's safe to do so. If you're unsure about a website, check out these tips that will help you tell if a link is safe before making your purchase.

4. Don’t freak out if you lose your card!

You thought you knew where it was, but then it wasn't there. You've searched everywhere — in your wallet, in your bag, under your bed — and you still can't find your debit card anywhere. While this is definitely not good news, there is no reason to lose your cool. Just call your bank immediately to report your debit card as lost or stolen. The bank will send you a new card and put your account on hold so the lost card can’t be used for any unauthorized transactions.

Hopefully, now that you know the dos and don’ts of debit cards, you’re ready to get started. Debit cards make life a lot easier, especially when you know how to use them to keep your money safe.

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