I just read this post on Team-BHP where a person’s debit card was skimmed at an ICICI bank branch ATM, and txns worth 1.3 lakh carried out.
Maybe I’m Paranoid but I simply don’t trust technology anymore in these matters. The sheer hassle / potential pain / time wastage is not worth it IMHO.
Here’s what I suggest – keep a separate account for cash withdrawals. I have a gold zero balance account from ICICI on the basis of my residential complex. That account never has more than 50k in it ever – it is filled up only with monthly transfers for cash expenses. I NEVER use my salary account debit card for any physical transactions ever! This account should ideally be in a tech savvy bank like ICICI so that any fraud etc is investigated fast / thoroughly and there’s decent customer redressal. I won’t trust Kotak / SCB even though they’re just as tech savvy – their customer care isnt there.