Should I be concerned about CC companies storing my debit card details?

pb3

Hi Everyone,

I pay my credit card statements online using my debit card details.

I'm very protective of my debit card and only use it to withdraw money from cash machines and to pay credit card bills online. I use credit cards for all other transactions.

Now usually when you pay credit card statements by debit card, you are offered the option to store the details for future use. I always decline as I prefer to enter these details manually each time.

I've noticed that MBNA have changed their payment portal so that debit card details are automatically stored. There is no option to NOT store debit card details.

I appreciate that given PCI regulations and potential penalties, that it is in the card issuers interest to ensure their networks are secure. However if I have chosen not to store my debit card details then there is no risk to me in the event (however unlikely) that the card issuer's systems are compromised.

I'm debating whether to raise the matter of removing my stored debit card details with MBNA. But first I would appreciate input from the group as to whether my concerns are valid.

agrinnall

I think it's unlikely that there is much to be worried about, but if you have concerns ask for the card details to be removed and use another method to pay in future.

grumbler

Pay by a FP and/or DD then.
FP is normally faster than a card payment.

I am not concerned and have my debit cards details stored by many companies (that charge extra for credit cards), but I always use the option of opting out of this if offered. It's not that hard to drag&drop or copy&paste the card number if needed.

Doctor_Duke

They've allowed this for years and I've never had a problem. Some lenders will now credit your debit card payment instantly like AMEX but like others have said, if you are that worried pay by Faster Payments, which is normally credited to the account within two hours.

jonesMUFCforever

Grumbler as usual is right and has the answer for you.
If you still get paper statements you could trapse down to your bank and pay over the counter.

chuckley

so how do you shop online? enter manually every time?

god bless you.

pb3

chuckley wrote: »

so how do you shop online? enter manually every time?

god bless you.

Err.chuckley...Thank you for your blessing - much appreciated over Easter - but I'm afraid you've missed the point.

My post is wrt the storage of my DEBIT card details.

I do shop online using my credit card details and sometimes take advantage of the facilty to store these details for future use.

If I choose to store my credit card details on a website and the website is subsequently compromised, then the worse that will happen is that I get several unauthorized transactions on my cc statement, which I can dispute with the cc company.

If however I choose to store my debit card details and the website is subsequently compromised, then any unauthorized transactions come directly out my bank account . A whole different ballgame.

Yes...Yes... I'm sure the risk of compromise is tiny - let say .0001% but this is still higher than zero percent - if the website doesn't have my debit card details

My issue is that MBNA took it upon themselves to store my debit card details on their "secure systems" without giving me any choice in the matter. However as pointed out by other respondents there are other payment options available.

chattychappy

My debit card doubles as an "authentication" card for my card reader. Without my debit card, I can be effectively locked out of my current account.

I spend long periods overseas and to lose access to my current account would be very inconvenient. For this reason, I rarely use my debit card for anything other than authenticating online transactions as I don't want the card swallowed, dropped/pick-pocketed, or cancelled after an online retailer has a data breach.

Overseas, I use cards like Clarity to withdraw cash. Recently, I've even started using Clarity in the UK. A few pence interest isn't an issue. But if I lost my debit card, I could be out of the UK before getting it replaced.

I haven't yet found a site which won't take CCs, so I usually let them store my details. If you decide to opt out, consider the risks of typing in your details every time. Also, I wonder if they store the details anyway for administrative reasons.

The only sites I use which insist on debit cards for payment are credit card sites. But I always pay them by faster payments, which is usually quicker anyway.

grumbler

pb3 wrote: »

...
If however I choose to store my debit card details and the website is subsequently compromised, then any unauthorized transactions come directly out my bank account . A whole different ballgame.

Not really, especially considering your estimation of the risk. The level of protection is the same for credit and debit cards: unauthorised transactions get refunded, so are the related charges. So, for a debit card it's just, possibly, some extra temporary inconvenience.

chattychappy

grumbler wrote: »

The level of protection is the same for credit and debit cards: unauthorised transactions get refunded, so are the related charges.

It's not quite the same - for example, CCs can't exclude liability (beyond £50) where the customer has been negligent, even though T+Cs and other material might suggest otherwise. Banks can, except when there is an overdraft.

But that isn't an issue here.

agrinnall

chattychappy wrote: »

I haven't yet found a site which won't take CCs, so I usually let them store my details.

Your reasons for using a CC rather than a DC are valid for your situation, but it must be costing you money to do so simply because so many sites charge more for using a CC than a DC (airlines for instance).