Safeguards for Debit Card Users

Some debit-card users soon will benefit from zero liability for fraudulent purchases.

Card payment
(Image credit: Getty Images/Hemera)

Until now, the best way to minimize the chances of fraud when you swiped your debit card was to sign your name rather than punch in your PIN. By signing, holders of cards backed by MasterCard or Visa—the two dominant networks among debit cards—were assured of the same zero-liability coverage for unauthorized purchases that the com­panies extend in case of credit card fraud.

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Lisa Gerstner
Editor, Kiplinger Personal Finance magazine

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.