Due to their enormous practicality and ease, the use of credit cards and debit cards has been increasing in recent years, which is why the National Commission for the Protection and Defense of Users of Financial Services (Condusef) is constantly monitoring banks and banking plastics.
Under this understanding, recently the National Commission for the Protection and Defense of Users of Financial Services (Condusef) warned bank account holders about certain purchases that do not require a PIN to be carried out.
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Thus, according to what is detailed in the May 2024 edition of the magazine Protect your money of the body of the Ministry of Finance and Public Credit (SHCP), the following are the purchases that do not require a PIN:
*Amounts less than 300 pesos: Although there is no official consensus to establish a minimum amount in which the purchase authorization can be omitted without having to enter your PIN, the truth is that there are stores or establishments where you can make purchases from $1 or commonly up to $300 pesos (maximum amount may vary), where payment happens automatically. This is mainly because, due to the low amount, there is no great risk for the financial institution or the buyer.
*Purchases with NFC technology: The second most popular case where there will be no need to enter your PIN to authorize purchases from an establishment is when you use NFC or (Near Field Communication) technology, since all you have to do is bring your credit or debit card close to it. the bank terminal and the purchase will automatically proceed.
*Online purchases: This is because when using digital cards, the use of the physical version of plastic is omitted. However, on the contrary, you must usually enter the CVV or security code of the card, unlike the PIN, these are 3 digits that are requested for telephone or internet purchases.
*Domiciliated charges: A fourth case is when you have charged your credit or debit card a recurring or direct debit charge, for example, a subscription to Netflix or another type of streaming. Although as in the previous example, it will be necessary for you to use your CVV.
It is worth mentioning that although being able to make purchases without entering the PIN of credit cards and debit cards is an enormous practicality, at the same time it is a double-edged sword, since some criminals can take advantage of it to their advantage, That’s why you should be careful.
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