With issues of safety and security constantly arising where money is involved, Standard Bank is urging its customers to forego cash transactions in favour of swiping their bank cards.
“Criminals are constantly coming up with new ways to steal from people. Carrying cash puts you at a higher risk than when you have your bank card. This is because our bank cards now have EMV chips which have made them safer,” Standard Bank’s PR and Communications Manager, Surihe Gaomas-Guchu advised this week.
Gaomas-Guchu further explained that when carrying cash if it is stolen or lost, that money is gone for good, however there are security measures in place that ensure that you do not lose your money when you’ve lost your bank card.
“Swiping ones bank card as opposed to using cash comes with a lot of benefits that go beyond safety and security,” Gaomas-Guchu said, listing these benefits as follows.
- Swiping is safer than cash because Standard Bank cards now come with EMV chip cards. Every time an EMV card is used for payment, the card chip creates a unique transaction code that cannot be used again. If a hacker stole the chip information from one specific point of sale, typical card duplication would never work because the stolen transaction number created in that instance wouldn’t be usable again and the card would just get denied.
- There have been instances were criminal mark unsuspecting target with the aim to rob them because they know that they are carrying around large quantities of cash. Opting swipe means you no longer have to carry cash around and both you and your money are safe.
- Swiping can help you save on the bank charges that come with withdrawing at an ATM and also help you earn rewards the more that you swipe.
- Swiping also helps you keep track of your spending and allows you to keep to your budget, especially if you are using a debit card which only allows you to only spend what you have in your account.
For more information on the benefits of swiping with your bank visit your nearest branch, Standard Bank website at www.standardbank.com.na or on the bank’s Facebook page.