Where is Debit Card Security Code? Why important?

By | September 2, 2021

Debit cards give you easy access to your bank account for shopping, Money withdrawal through ATM, or other financial needs. But if your Debit card gets lost, stolen, or hacked, your account and the money in it — could be at risk. Fortunately, card issuers use various security tactics to help protect you, including debit card security codes. So lets understand about Where is Debit Card Security Code? Why its important?
In a Nutshell

What’s Ahead

  1. What is a Debit Card Security Code?
  2. What are the components of a CVV?
  3. How does debit card security code work?
  4. What are the other ways to prevent yourself from debit card fraud?
  5. Bottom-Line

What is a Debit Card Security Code?

Similar to a credit card, a debit card has a set of multiple numbers printed on it. It includes the card number (a 15-16 digit number), usually printed on the front of your debit card. Your debit card also carries relevant date details like Date Of Issue, Expiration Dates usually in front of the card.

A security code of a debit card is a three-figure or four-figure number usually located in the signature box section below the magnetic stripe on the backside of your card. This number has a jargon name of CVC (abbreviating Card Verification Card), or CVV (abbreviating Card Verification Value), or CSC (abbreviating Card Security Code).

Card Security Card is a 3-4 figure number used to help verify that the cardholder’s payment is being made using that particular card (it can be a debit card or a credit card).

Card Security Card (CSC) on a MasterCard or even a Visa Card is a three-figure number situated on the backside of the card. It is usually printed on the right of the signature strip.

Card Verification Value on American Express Debit Cards is a four-figure number situated on the front of the card, printed above and right side of the credit card number.

Card Security Card (CSC) on a MasterCard or even a Visa Card is a three-figure number situated on the backside of the card. It is usually printed on the right of the signature strip.

Card Verification Value on American Express Debit Cards is a four-figure number situated on the front of the card, printed above and right side of the credit card number.

What are the components of a CVV?

There are two components of the CVV number.

The first component is the magnetic stripe, which contains crucial unique data concerned to your debit card. This piece of information is recovered as the card is swiped through a magnetic reader machine.

The second component consists of digits that need to be entered while making a transaction. This numeric code is one of the many advantages of a debit card.

What is the purpose of the CVV?

The best analogy to describe the functioning of the CVV is that of a security guard. The CVV safeguards your debit cards like a security guard safeguards your buildings against theft, frauds, or unauthorized transactions. It ensures that inky the cardholder uses the card.

How does debit card security code work?

Since your debit card is directly linked to your bank account, it is vital to protect it as vigilantly as you would with your cash.

Usually, debit card security codes are an added layer of security for card transactions- you might be asked for your CSC numbers to confirm whether you are making a purchase or you authorize the transaction. That is because you are typically required to have the card in your possession to share the same code.

A Debit Card Security Code works distinctively from the PIN (Personal Identification Number),You selected when you acquired your card, and you usually enter to withdraw money from an ATM.

The Debit Card Security Code works differently from the unique code generated by EMV chip cards to help prevent fraud.

Along with your debit card number and expiry date, protecting your debit card security code is significant since someone can use this information to make a fraudulent transaction using your card- even if they are not physically possessing the respective card.

For instance, Michael is shopping a pair of shoes for his son and finds a pair of Adidas sneakers, which he wants to buy at an online apparels store. He proceeds to check out, where he is prompted to enter his personal information, followed by the debit card number and expiry date. The last piece of information that is required to make the transaction is the Debit Card Security Card.

As the transaction gets processed, the new pair of sneakers are on their way to Michael’s house. If the merchant’s website and app were hacked, Michael’s bank account would not be impacted because the security number was never stored on the merchant’s database.

What are the other ways to prevent yourself from debit card fraud?

Financial Institutions and Credit Card Issuers are not the only ones who have the responsibility of protecting your debit card. There are many things that you can do to keep your card secure, and these include the following:

  • Do not share your Identification Number with anyone. It is in your best practice to avoid writing it down or carrying it with yourself
  • Use Credit Cards to make online purchases- Debit Cards users may be more vulnerable to hackers and online scammers attacks.
  • If your financial institution offers you sign-up for email or text message alerts that summarize your account activities monthly or annually.
  • It is in your best interest to develop a habit of monitoring your bills, bank account statements, and credit reports. It might help you detect any signs of fraudulent activities like withdrawals that you did not authorize.

Bottom- Line

The Security Code of your Debit Card helps you by offering safety and security while you are shopping online or over the phone. You can also maximize your financial security by developing a habit of regularly checking your bank statements, transactions, and all the payments. Moreover, if you shop online, it is best to use credit cards.

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Author: Dhiraj Jha

I love to acquire, review, and earn reward points/cashback from Credit Cards for free traveling and enjoying luxury hotels. Helping people about the benefits and optimal utilization of credit cards.

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