To prevent loss, theft, and fraudulent use of credit cards while traveling abroad this summer, travelers should set up payment notifications and usage limits before departure.
The Financial Supervisory Service provided guidance on July 23 based on major dispute cases to help consumers use credit cards safely both domestically and internationally.
When using ATMs at foreign airports or train stations, it is important to shield the keypad to prevent exposure of the PIN. If a transaction is completed with a correctly entered PIN, the cardholder may be held responsible, making it difficult to receive compensation for any losses. Travelers should also be cautious of card cloning and information leaks at private ATMs in secluded areas or at street vendors and bars where the payment process cannot be directly monitored.
Using a foreign SIM card may prevent travelers from receiving payment notifications sent via domestic text messages. It is advisable to switch to KakaoTalk or app push notifications from the card issuer before leaving and to save the contact information for the card issuer's lost card reporting center.
If a card is lost or stolen, it should be reported immediately to the card issuer and local police. Without a police report or location information at the time of the transaction, compensation for fraudulent payments may be limited. Additionally, lending a personal card to family members may complicate compensation under the terms of service, so it is recommended to obtain separate family member cards.
The Financial Supervisory Service urged travelers to utilize domestic payment blocking services to prevent fraudulent transactions occurring while abroad. KB Kookmin Card and Hyundai Card offer such services, while Hana and Shinhan Cards are expected to implement them by the end of this month.
* This article has been translated by AI.
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