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What If Someone Knows My Debit Card Number And CVV Number?


Video by NBCLA What If Someone Knows My Debit Card Number And CVV Number?

It's not possible to deduct money from a debit card, by only knowing the 16 digit number and CVV. Online purchases, or transfers has many security features; which we'll explain below.

(Can The Bank Track Who Used My Debit Card?)

On the flipside: For ATM transactions; the criminal needs the physical card and PIN (Personal Identification Number). To be able to make a cash withdrawal and even when they do. Most ATM's has CCTV cameras. Which could be used as evidence against the impostor.

But That Won't Recover Lost Funds

The footage will only help to open a case with your local police service. However it will not necessarily guarantee a refund from your bank.

So If Someone Knows Your Debit Card Number And CVV Code:

I highly recommend you report the matter and change you debit card details at your nearest branch.

Take immediate action! When it comes to financial data or risks that could negatively affect your livelihood.

Can Someone Deduct Money From A Debit Card, By Knowing My 16 Digit Number And CVV?

(Examples Of Credit Card Frauds?)

  1. One of the most common way to deduct or transfer money out of your account. Is by using the traditional ATM cash withdrawal system.
  2. Alternatively there digital options like: Banking Apps and of course internet based transaction or purchases.

Let's briefly discuss the authentication methods of both services. Beginning with the the cyber space; that became even more popular in the lockdown.

Online Money Transfer Or Internet Based Transactions Security Features:

Let's assume the person got hold of your debit or credit card 16 digit card number and you CVV (Card Verification Value).

And wants to do a fraudulent transfer or purchase. Here are a few barriers they will come across.

Assuming they only have your debit or credit cards 16 digits and CVV (CVV2) numbers:

1. For Internet Debit Card Purchases:

  • As soon as you select the debit card payment method; you will be requires to sign in to your internet banking. Which be a problem if you don't know the internet banking ID.
  • Then you get security questions with some banks or Next level of a grid security feature with others, etc.
  • Banks has several encryption, security layers and fraud monitoring network defense. Which makes it even more daunting for fraudulent transfers.

2. The Credit Card Authentication Problems They Will Encounter Are:

  1. They first connect to an eCommerce or Commercial website like: Amazon, Takealot, etc.
  2. Browse the products page and attempt to make a purchase.
  3. Choose online payment method on their checkout page.(They will only reach this far).
  4. Proceed to Select Debit or Credit card payment options. (Unable to identify card type because they don't know it).
  5. Type in the required details to complete the transaction.( Unable to fill out further details such as: American Express, Visa, Diners Club, Master Card, etc).
  6. Payment confirmed and transaction finalized. (They won't even reach this far, as the above details will be incomplete).

You despite the fact that the person know you 16 digital numbers and CVV.

They may not know your name, expiry date or have access to your cellphone number. In order to process the following:

The OTP (One-Time-PIN) will be sent to the cellular number that you initially registered with your bank account.

3. For A Successful ATM Withdrawal:

  • The person need to insert the physical card in the card slot. Which will be a problem if he/she don't have the card.
  • Even if they have the card, they need to know your PIN code. If they guess the wrong PIN thrice the card will be swallowed by the machine.
In Summary:

To transfer funds, or purchase on the internet requires more details than a ATM requirements.

Whether you wish to transfer money to for someone, another account, eCommerce, services website, etc.

  • The Card 16 number
  • The Card Type: Visa, American Express, Diners Club, etc.
  • Expiring details: Month and year.
  • CVV (Card Verification Value).
  • The full name of the card holder.
  • They need your mobile phone simcard that you originally registered on your bank account.

Because even if all the above are successfully updated. The website or banking facility will send a OTP to the cellphone number.

The eCommerce will connect to the banking server to verify the details. Then include the original card holder by sending a PIN that expires in a few minutes, in order for funds to leave your account.

If your account get diminished this way, it must be from someone very close. Like a friend, family member, through an inside person in the bank, a privilege unauthorized user, an unsecure website.

Or you keep such details on your computer and it got hacked. In this case financial recovery or restitution is impossible. You can't prove your innocence to the authorities and there is not camera footage like at an ATM.

Prevent such ordeals by installing by practicing safe online behaviour, don't write or store your information on paper and don't fall for dates that use your loneliness as a phishing opportunity.