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Most online businesses I access have multiple payment modes, two of which (them being the ones I can use) are debit cards and online banking. Choosing the latter takes you to your bank's online portal, where you need to login with your account's online credentials and approve payment; I assume this is some sort of a wire-transfer.

In terms of security, both employ an OTP to my phone. I don't know what encryption the card portal's website uses, but I assume it is good. The bank's portal uses: TLS_ECDHE_RSA_WITH_AES_256_GCM_SHA384, 256 bit keys, TLS 1.2

As far as I know, under most cases (online retail), no extra charge is levied on either of the modes (some websites do: espescially travel).

One advantage I see with using the debit card is that I can accumulate reward points with it.

I want to know if there are any other reasons I would want to prefer one method over the other.

  • 3
    Adding a country tag may help in better answers with respect to regulation and market practice – Dheer Jan 2 '17 at 12:21
  • If you use the portal, are your account numbers given to the merchant? If so I would use the debit card just for security purposes. If you account number gets compromised, it's much easier to replace the debit card than a bank account number. – GForce Jan 2 '17 at 12:36
  • @Dheer Added it. – physkets Jan 2 '17 at 14:43
  • @GForce No, I don't think they get that because it redirects to the bank's website, and I have to login; everything then is done on the bank's website... unless of course they spoof the redirection and I don't notice the incorrect 'https'. – physkets Jan 2 '17 at 14:47
  • Nope account number is not shared. – Dheer Jan 2 '17 at 15:32
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There are reward points that you have already mentioned. Some banks also give reward points for netbanking transfer, although very few and less than debit card.

On a fraudulent site, debit card adds a layer, if compromised, easy to change. i.e just hot list the card, get a new card issued. Netbanking quite a few banks have incorrect implementation and difficult to change the login ID / User ID.

The dispute resolution mechanism is well established as there is master or visa network involved.

The ease of doing transaction is with netbanking as for card one has to remember 16 digits, expiry, cvv. The entire process of card usage is multiparty, on slow connection if something goes wrong, it takes 3 days to figure out. In netbanking it is instantaneous. You just login to bank and see if the debit has gone through.

  • Yep, the last thing you mention is important to me. Could you elaborate with specifics on what you meant by: "Netbanking quite a few banks have incorrect implementation" ? – physkets Jan 2 '17 at 16:17
  • @physkets Some Banks have CustomerID as NetBanking Login ID. So if your account is compromised; regenerating a new NetBanking Login ID will mean new Customer ID, which would mean Re-KYC ... while some have a string of Chars [some times you can select, sometimes given] so requesting a new NetBanking UserID is relatively easy, if things get compromised. – Dheer Jan 2 '17 at 17:00
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In my view debit cards but not to your entire account just a pre charged debit card (in case of fraud you risk the money in the card) or a one transfer card (it's just a number provided by your bank that allows you to do a single transfer)

using the bank web site directly from the purchase website you incur in risk of safety if the bank website provided is not the real one.

In case you still prefer to use the bank web site be sure to enter with your credentials and that all the layout and options look normal and change your password from time to time.
Your bank or your national ciber-security support will give you the best security available options, according to your country both before or after safety attack.

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