Czechs often have misconceptions about internet payments and the safety of their money in bank accounts

The article about how fraudsters whitewashed my bank account showed one interesting thing. Namely, that a lot of bank account holders have a misconception about how to 100% ensure that something like this does not happen to them.

A week ago I published an article on this platform about how fraudsters, in a rather sophisticated way, took thousands of dollars from my account. These were card transactions that I did not make, I did not lose the card and I did not authorize any of the transactions. Still, the money went. The article was quite read and readers also discussed a lot under the text. But the discussion showed one interesting thing.

Actually two things. The first is that I am financially illiterate, when I do not have a limit set for card transactions, or they are not completely prohibited. OK, someone can solve it that way, especially on a private account. However, it would be impractical in my case. It was a company account, dozens of transactions take place on it every day, and often they are in the tens of thousands of crowns.

Don’t think of yourself as financially and computer literate when you have set up payment information in the application without secondary confirmation. I’m sorry, but maybe you’ll get closer to it now

I won’t eat it for you. Even if the card is stored, the CVV will at least ask you to confirm it. So just admit that you clicked on some porn link on Facebook

The second point of interest, much more serious in my opinion, is how many discussants believe that when they have to confirm the transaction in the application when buying a pizza, a book or even a plane ticket, that this applies to all payments and that this is 100% protection against similar situation, or before someone siphons money from their account. They believe that if they do not confirm the transaction themselves, the money will not leave their account. Dear debaters, this is one big mistake that can cost you quite a bit of money. In some cases, the money goes away without you confirming anything anywhere or clicking on pornographic links on the Internet. It is not always necessary to confirm the transaction in the application. I don’t wish this on any of you, but those who don’t believe may be very surprised. Very much.

I don’t know, I confirm every payment in internet banking with my fingerprint via the app on my mobile phone.

Author, what is this nonsense? Today, every payment must be verified with two factors, the details of the card itself are so completely irrelevant to the person concerned, if you do not confirm the payment on your phone in your bank’s application!

If he didn’t have two-step verification, then he was a total illiterate!

The assumption that you have to confirm every transaction in the app is really wrong. This is not always the case. Remember, for example, if you actually confirm payment in internet banking, for example for food delivery, taxi service, ticket purchase, audio books, etc… This is not always the rule. Relying on the fact that nothing will be taken out of the account until it is done in Internet banking, or in the mobile application, you do not allow, there may not be a 100% certainty that this will actually be the case.

So for me, at least in the case of private accounts, the best protection is really to set limits on card transactions over the Internet, use separate accounts and cards, and consider using virtual cards. Personally, I also recommend regularly monitoring transactions in the so-called blocking and setting a notification for any movement on the account. However, it will be a bit more difficult for company accounts, which often have several dozen payment cards linked to them.

So let’s avoid a similar situation that happened to me.