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4 ways to protect a credit card



Bank of Mexico (Banxico) sets in its regulation credit cards to protect all cardholders from fraud and unrecognized fees. In addition, from 2018, the law provides for the homologation of this protection on debit cards.

In this way, all plastic users in Mexico receive support if they are not aware of any allegations and / or that they have not been confirmed in an extenuated manner. In such situations, and if the lawsuit is passed, the issuing bank of the card must return the client resources up to two business days.

"Unauthorized payments are one of the biggest concerns of cardholders, and although the law protects us as users, it is always better to take measures to protect the plastic in the event of theft, loss or cloning."explains Bernardo Prum, director of

"Registration of our biometric data at the bank can be one of the simplest and most secure mechanisms for protecting transactions and ensuring that every move is carried out by the owner," he adds.

According to official regulations, by March 2020, all banks will be obliged to implement biometric features, especially fingerprints, in the process of authenticating their clients to provide greater security in operations, although currently about 40 are already using these methods to protect their operations. of users, according to the National Commission on Banking and Securities (CNBV).

There are several ways in which people can insure or protect their bank cards, some of them are at a low additional cost, depending on the mechanisms of each bank. Financial Services Comparator offers users a list of the main alternatives for protecting banking plastics:

1) Voice trail

One of the most common methods in banks such as Santander and Citibank. During voice typing, frequency, speed, and accent are checked to match the same as a registered client. This fixed password method takes less than 2 seconds to authenticate.

Some disadvantages of this system are the high cost it has for institutions, as well as the permission that banks should have before customers before recording voice recordings.

2) Fingerprints

Fingerprints confirm that the characteristics are the same as those registered with the National Electoral Institute (INE). Banks, such as Banorte and Citibanamex, among others, already use imprint at a branch when clients require opening an account, consumer loans, in the case of a contract, or canceling digital banking, applying or issuing a credit or debit card. , assignment of a telephone service key or modification of general data.

3) Face Recognition

In this case, the features of the captured face are detected and they have the same distance between the pupils, the position of the nose and the size of the characteristics recorded by the person. BBVA and Banorte already have this type of scheme thanks to selfies authentication.

4) Additional insurance or additional protection of credit cards

There are some banks that sell fraud insurance with extra costs; In general, what happens is that they extend the term of protection; that is, they cover a longer period than 48 hours set by law after detecting fraudulent allegations.

An example is the Cash + Coverage for customers with debit and / or Scotiabank check accounts or Santander plus a shield that protects plastic from theft or loss up to 72 hours after withdrawing money from an ATM and for transactions not authorized in digital banking.

The payment of these additional coverages ranges from 50 pesos per month, 1300 per year to more than 5 thousand pesos per year, depending on the sum insured.

Should I hire extra armor?

  • The fact that the law protects, but according to the amount of money spent, one can consider the possibility of acquiring a broad coverage of larger armor or not, we must remember that they cover large amounts of capital.
  • It is recommended to use the biometric codes proposed by the bank.
  • Keep in mind that there are also debit cards that work the same way as a credit.

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