POSB atm card to DBS debit card

Kirin_Rider SG

Hi, i currently have a posb saving acct and using posb atm card to withdraw/deposit money. With my application of dbs debit card, i was told my posb atm card would be nulled and the usage of it would be transferred to this new dbs debit card. May i ask after this change takes place, my account should still remain as posb saving acct right ? If so, whats the difference that this card offers over my previous (current) one ?

ditzy SG

Nothing, other than the fact that it becomes a debit/atm card.

fudgester SG

All that happens is that your debit card can be used as an atm card at ATM machines and for NETS payments.

Kirin_Rider SG

so what exactly does the "debit" word adds on ? Because if NETS usage is "debit", then its just the addition of this "debit" word only ?

stellazio SG

Yep, you get more functionability from the new card, because you can sign master, or even make online transactions now..

QX179R SG

which means ur current atm card is now a debit card cum atm card aka 2 in 1..
which also means u can use paypal too & its impossible with just a normal atm card..

speaking of which, I haven't go & change mine yet..

Kirin_Rider SG

oh ok thanks i see, so in that sense its the name thats misleading as my old posb saving atm card can also be used for nets

ditzy SG

So cool hor, so now if you lose it, there is an even higher chance someone could spend with it before you report it.

Kirin_Rider SG

Yep, you get more functionability from the new card, because you can sign master, or even make online transactions now..

does this now increases any risks should i lose my card ?

ditzy SG

Of course, with greater convenience always comes greater risk. You could ask for a lower debit limit to control the damage.

ditzy SG

For my case, i swapped back to the plain old atm card because i don't use any of its funky new capabilities.

Kirin_Rider SG

So cool hor, so now if you lose it, there is an even higher chance someone could spend with it before you report it.

i think the chance is the same, if the person somehow can get your PIN, even without all these extra ways of 'spending' from your accounts would still be able to deplete it. (ie. withdraw all/buy something with NETS)

stellazio SG

No, because your card can now be used to sign..And being a debit card, the money is deducted straight away..

Kirin_Rider SG

No, because your card can now be used to sign..And being a debit card, the money is deducted straight away..

used to sign what? erm master ? How does signing things like master creates any more risks? And what do you mean deducted straight away ? Isnt NETS deducts made straight away too? Pardon for all these newbies questions lol.

stellazio SG

Yes its also a mastercard, and since you know that the back of your card is normally signed with your signature, he could just do a copy of it and sign for purchases. Whereas if its just an atm or nets card, he would need to know your pin number to be able to make purchases..

Kirin_Rider SG

i dont think there is any signatures...i know there is name, but i have never given signatures to my posb bank but only thumbprint.

stellazio SG

i dont think there is any signatures...i know there is name, but i have never given signatures to my posb bank but only thumbprint.

you sign the back of your card with your signature la..

dangerboi SG

masters

there is the possibility that one could pick up any card on the street and forge a similar signature at any departmental stores

deducted immediately, in fact; similar to nets.

You could use the debit card to buy online stuffs; this again will be a risk if anyone has access to the numerical digits of your card.

Samuel Lee SG

i dont think there is any signatures...i know there is name, but i have never given signatures to my posb bank but only thumbprint.

No, for credit cards, they are signed. Yes for usual old accounts, it can be either.

FireIce SG

i have dbs visa debit, for my POS and online purchases

i have the go! enhanced atm card for pressing money

no conflict.