Thread by @WaleMicaiah

WHY DO YOU LEAVE YOUR TRANSACTION RECEIPT AT THE ATM OR WITH THE PoS CASHIER?

#Thread on Being Mindful of Your Electronic or Financial Information.

Cc @yinkanubi

Your receipt is your evidence of transaction and can be useful during dispute resolution.

A guy bought an adulterated fuel that led to the breakdown of his car, the receipt from the fuel station came handy and cut all stories that touch.

Your transaction receipt is either kept safe if still useful or destroyed because they can be subject of crime investigation if found in a crime scene.

Then you will have to explain how your information got to some questionable location.

Your transaction receipt contains a lot of information, about Your card, Your Bank and the Merchant & Merchant's Bank you patronised.

I got this receipt from a Merchant desk, obviously abandoned by a Customer and thought to share some learning points here.

The receipt contains your card details: take a look:
Card Brand
Card Type - debit or credit
PAN
Card Issued Date
Card Expiry Date

This is the catch, fraudsters know your PAN is masked. Usually, you can only read the first 6 and the last 4 digits, so what they want to get while spying at your card is the middle 6 digits that is masked.

If you abandon your receipt, they can get the last 6 & 4, done deal.

If at the point of payment you are careless to expose the PAN and PIN or CVV, with your expiry date...you may get hit.

You want to be careful because you don't know who is looking over your shoulder.

At best, collect the receipt whether the transaction is successful or not. It will be useful if there is transaction dispute and you can destroy it if your transaction is perfect.

/End.