Anyone can easily use a stolen debit card number to get cash in a number of ways. Debit cards are common among bank account holders since it helps them withdraw money from ATM. Card lost are common as many keep requested for their lost bank cards to be blocked and replaced.
The most important part for thieves is to breach into computer systems and steal customer card information. It isn't that hard to use a debit card number online to get cash. Debit cards are also known as ATM cards and are not recommended to be used for online purchases because of the low assurance and security offered by the card.
What makes debit card less secured for shopping online is that, they don't require OTP to complete online shopping. On the other hand, when using prepaid cards for international shopping, you will be asked to provide an OTP that will be used as an extra verification to prove that you are the owner of the card.
Virtual cards are more recommended to for transactions online because even if its information gets stolen, you will be able to delete or freeze the card to prevent further unexpected transactions. Reputable disposable credit card number services let you generate a unique virtual credit card info for each transaction after which the card will no longer work.
Moreover, if you want to access the funds in your virtual card in a more flexible way, you can get cash off a virtual card or transfer money from virtual card to bank account.
Many card phishing attacks and also related cyber crimes known to steal customers payment info have been highly recorder over the past years and because of this, companies strive to provide the best security they can offer to their consumers but on the other hand, you too should consider protecting your funds by following the security measures put in place by your bank.
Because your debit card is directly linked to your checking account (which contains a great portion of your funds), it is not recommended to use this card as payment method online since any theft of the card information may be leaked on the dark web and your bank account balance will be drained within minutes.
Which if why if you have funds in your debit card and want to complete an online transaction, you should consider transferring money from debit card to prepaid card and complete your transaction.
However, if you got a stolen debit card number and want to get cash off the card, you should now be aware that you can easily get money off the card since you will not be required to provide a PIN nor OTP to complete a transaction online. Want to know the different ways to use a stolen debit card number to get cash? Continue reading.
In this article, I will show you how to use a stolen debit card number to get cash and what you should consider doing if should in case you loss your debit card.
CHECK ALSO: How to Use a Credit Card to Get Cash Without PIN
What is a Debit Card?
A debit card is a payment card that deducts money directly from a consumer’s checking account when it is used. They are sometimes known as "check cards" or "bank cards," and can be used to purchase products or services, as well as to obtain cash from an automated teller machine or a merchant who will allow you to add an additional amount to a purchase.
- Debit cards eliminate the need to carry cash or physical checks to make complete transactions, and they can also be used to withdraw cash from ATMs.
- Debit cards normally have daily purchase restrictions, so it's unlikely that you'll be able to make a particularly significant purchase with one.
- Purchases made with a debit card can often be made with or without a personal identification number (PIN).
- If you use your debit card to withdraw cash from an ATM that isn't linked with the bank that issued your card, you may be charged an ATM transaction fee.
- Some debit cards offer reward schemes that are comparable to those offered by credit cards, such as 1% back on all purchases.
How a Debit Card Works
A debit card is typically a rectangular piece of plastic that looks similar to a credit card. It is linked to the user's bank or credit union checking account. The quantity of money that can be spent with it is proportional to the size of the account (the amount of funds in the account).
Debit cards are a combination of ATM cards and credit cards in some ways. You can use them to get cash from an automated teller machine at a bank, or you can use them to make purchases, as in the latter case.
Many financial institutions are replacing their single-purpose ATM cards with debit cards supplied by large card-payment processors like Visa or Mastercard. These debit cards are available automatically with your checking account.
The debit card works in the same way whether it's used to get cash or to make a purchase: it immediately withdraws funds from the linked account. As a result, your spending is restricted to the funds in your checking account, and the exact amount you have to spend varies from day to day, as does your account balance.
Daily purchase limitations are common on debit cards, which means you can't spend more than a set amount in a 24-hour period.
Purchases with a debit card can be made with or without a PIN. If the card bears the logo of a prominent payment processor, it can often be used without one, just like a credit card.
CHECK ALSO: What Happens When Your Debit Card Expires?
What Do You Need to Use a Debit Card?
Generally, there isn't much information required from you to use a debit card. Just the card basic information can do. Below is the information you need to know of a debit card before being able to use it:
- Card holder name.
- Card 16-digit number.
- Expiration date.
- CVV code.
If you have all of the above information, you might be able to shop online without hassle. However, some retailers might require additional information from you before you might be able to use your card. We are talking here of the OTP which is a One-time Passcode sent to your mobile number linked to your bank account to authorize the ongoing transaction.
CHECK ALSO: How to Get Money Off an Expired Debit Card
Can You Use a Stolen Debit Card Number to Get Cash?
Yes, you can. Debit cards can be used to complete transactions without having to enter you PIN or OTP (in some cases). All you need to provide is the card holder name (in most cases), card number, expiration date, and CVV code. This means, if you have the card number, expiration date and CVV, you can make purchases online which will be funded by the checking account linked to the bank card.
Disclaimer!
This article is for educational purposes only and every information provided on this page is purely to educate readers of the numerous risks they run when using a debit card to shop online and how they can stay away from being victims of cyber crimes.
CHECK ALSO: How to Use a Credit Card Without CVV Code
What Do You Need to Use a Stolen Debit Card Number to Get Cash?
If you have a stolen debit card number or just picked a debit card and want to get cash from the card, you will need to know some information on the card before being able to use the card. All you will need is the card holder name (though not always required), card number, expiration date and card's CVV code. If you don't have the card's CVV code, you can bypass CVV code when using a card to complete online transactions.
Keep in mind that you can't use a stolen debit card number at an ATM to get cash if you don't have the card's PIN.
How to Use a Stolen Debit Card Number to Get Cash
If you got a stolen debit card number and a curious about getting cash with it, then, let me assure you that you can get cash from the card but the processes can be tricky.
Since the card isn't yours, you can't just move to an ATM to withdraw money from the card since you will need the card's PIN.
However, if you know the card's PIN, then you can get cash from the debit card at an ATM. If you don't know the card's PIN, here are some ways to withdraw money from ATM without PIN code.
The best way to get cash from a stolen debit card is to use the card online to purchase stuffs which you can then sell and get cash. For example, you can buy and sell gift cards instantly for cash.
What will be required from you when using the card online will be the card holder name, card number and CVV code. You can also get free gift cards and sell them for bitcoin instantly.
If you don't have the card CVV, I will recommend you to use the debit card to shop on websites that don't require CVV code.
If the debit card was issued by an institution that doesn't require the owner to use an OTP when shopping online, then, this can turn into your advantage.
However, here are some ways to use a stolen debit card number to get cash.
1. Buy and Sell Items Online
Trading items online with a stolen debit card is one of the best ways to use the card to get cash. All you need to do is to look for a retailer that doesn't require you to use OTP or CVV code (a site that doesn't require both is the best option here) and use the card number to shop online.
As most of you may know, Amazon lets you purchase items without having to enter a PIN or providing an OTP to complete the transaction. This is in contrast to other payment gateways such as Haystack and Floating Wave, which require an OTP for each transaction. To buy gift cards online, enter your card information. There are a number of websites that allow you to buy gift cards online using your debit card information without having to enter a PIN or an OTP.
CHECK ALSO: How to Bypass OTP on Any Website Or App
2. Connect the Debit Card to Virtual Cards
A virtual card is a card designed to be used only once or for a limited period of time. It's also known as a one-time usage card. It's similar to a clone in that it uses the same details and functions as the original card. You will not be tracked, as you would not be when using a virtual map, because your locations are never saved.
After the transaction, you can easily track users using standard tags. It is, however, impossible to follow people using virtual tags. The virtual card does not provide your personal information to the website with which you are transacting. It safeguards you and can be turned off after use.
There are many virtual card services to which you can connect your debit card and use it as a subaccount for funding transactions made with your virtual cards.
CHECK ALSO: How to Get Instant Virtual Debit Card for Free
3. Run Advertisements on Facebook with the Debit Card
Running Facebook ads is another way to use a debit card number to get cash. However, since you are using a stolen debit card, you will need to use a Facebook account purposely made for such activities.
All you need to do is to add the debit card details to Facebook and begin running paid ads. If you want to quickly drain the debit card balance, set the advertisement cost to maximum.
4. Sell the Debit Card Online
This is the last but very effective method to get cash from a stolen debit card. You can sell the stolen debit card online at a cheap price on many platforms.
You can also use eBay to advertise popular things that you don't have. When someone buys it, you buy the same thing with the obtained CC number from an online site, designate the customer's eBay address as the delivery location, have those stores ship the product directly to their buyer, and tidy up money for them, which you may spend as you like.
It's a type of money laundering that takes place over the internet. Furthermore, it appears that the majority of these stolen debit card numbers have been canceled or, at the at least, deleted, which explains why they are so cheap.
CHECK ALSO: 10 Best Instant Bank Account With Virtual Debit Card
What to Do If You Lost a Debit Card
It's vital to act swiftly if your debit card goes lost or if thieves utilize your card number. Unauthorized charges wreak havoc on debit and credit cards alike, but debit cards are particularly troublesome:
- Because debit card charges are sent directly into your checking account, they can quickly deplete your funds. As a result, you may miss critical payments such as rent, mortgage payments, and insurance fees.
- Unless you disclose the problem early enough, your culpability for a stolen debit card is larger than your risk for a stolen credit card.
Whether your card was stolen or you still have it, the resolution process is the same (and they just use the card number). If you have ownership of your card, though, you have more time to avoid losses.
Contact Your Bank
The most important step is to contact your bank right away. Notify them that your debit card has been stolen or that you believe your card number has been used fraudulently. The sooner you do this, the lower your risk will be. Federal law protects you from account fraud and errors, however your protection is conditional on the following factors:
- You are not liable for any charges if you tell your bank before the thieves use your card.
- If you inform your banking institution within two business days after learning of the theft, your loss is limited to $50.
- After that, if you disclose your loss within 60 days of the date on your account statement, your loss might be as much as $500.
- After that, you run the danger of losing an unlimited amount of money and taking full responsibility for all charges made to your account.
If you still have the card but your card number has been stolen, you have 60 days to report any fraudulent transactions and have your losses covered by the bank. You are responsible for the charges after 60 days.
If you believe the card has simply been misplaced and not stolen, you must determine how to proceed. The safest course of action is to contact your bank right away and request a replacement card. However, some banks allow you to disable your card via an app or online. This stops anyone from using the card while you figure out if it's permanently lost.
Use the phone number shown on your bank's website or in your bank's mobile app to contact your bank. Banks usually accept these reports 24 hours a day, seven days a week, so don't wait until Monday. You might be able to submit a report online (or using your bank's app) as well. You may need to follow up with a written report after verbally contacting your bank; this is necessary to safeguard your rights. If you don't fill out the paperwork (yeah, it's a bother), you might not be able to "report" the theft.
In addition to the federal law's protection, your bank or card issuer may offer "zero liability" protection. Those features are sometimes more generous than the law demands.
CHECK ALSO: How to Get Money Off an Expired Debit Card
How Do Hackers Steal Debit Card Numbers?
If you still have your card, you may be concerned about how cyber criminals are utilizing it for online purchasing and even ATM withdrawals.
Debit card numbers are often stolen, and you may not even be aware of it.
- When hackers enter into retailers' computer systems, they can steal card details in major data breaches.
- Hidden cameras can pick up your PIN as you type it in, and ATM and pocket skimmers can get your card number.
- Employees that are dishonest can copy your card details practically anywhere.
To be safe, don't use your debit card at any merchant you're unfamiliar with. Credit cards are, once again, the safer option. Any protection you can put between your bank account and a thief is a good thing. Payment systems like PayPal can also help you hide your account information by acting as a buffer. To limit the risk of data theft, use your chip card and insert it rather than swiping it.
If you really appreciate debit cards, a prepaid debit card is a good option for purchasing in situations where your personal information might be taken. There is no credit check for these cards, and thieves may only take what you put on them.
Keep track of your account statements on a regular basis. Unfortunately, letting things run on autopilot is not a good idea. Set up SMS or email alerts in your checking account to notify you of account activity to make it easier. This allows you to rapidly spot problems and report theft to your bank, reducing your liability.
- How to Transfer Money from Prepaid Card to Bank Account [Complete Process]
- How to Transfer Money from Bank Account to Prepaid Card
- How To Transfer Money From A Prepaid Card To PayPal
- How to Add Money to Cash App Without Debit Card [3 Easy Steps]
- How to Transfer Money Using Routing Number and Account Number
Final Thoughts
Debit cards are those cards designed for ATM Withdrawals. It isn't recommended to use an ATM card or debit card for online transactions because your card details might be stolen in an eventual data breach.
If you got a stolen debit card number and want to get cash from the card, know that unless you have the card PIN, you won't be able to get cash from the card at an ATM. The only way to get cash from the card is online. However, every method listed above can be risky and employ legal actions if ever you get caught.
References:
https://www.investopedia.com/terms/d/debitcard.asp
https://www.thebalance.com/stolen-debit-card-risk-315319