“Make Sense of Money” Financial Education Campaign: Cashless Payments, Greater Security, More Convenience
Automatically translated summary. The full text is available in Romanian.
As part of the financial education campaign “Make Sense of Money”, a new note explains electronic payment instruments, with a focus on bank cards. It describes how cashless payments work, the difference between debit and credit cards, and how cardholders can protect their money.
Electronic payments are made by bank card, online or by mobile phone, using either money held in a bank account or electronic money stored on a server in personal online wallets. The bank card is presented as one of the safest and most convenient cashless instruments. A debit card is linked to an account and allows spending within available funds, including receiving a salary, pension or allowance. A credit card allows purchases on borrowed funds up to a set limit; the amount must be repaid, possibly with interest and fees, so spending should be managed carefully, debts paid on time and monthly statements checked.
On security, the PIN must never be disclosed to anyone, including merchants, bank staff or police, and the three-digit CVV code used for online purchases must also stay private. A forgotten or repeatedly mistyped PIN can be replaced by the bank. In case of loss, theft or fraud, the card should be blocked immediately through the banks’ round-the-clock customer service. The note was funded by the British Embassy in Chișinău through the Good Governance Fund.
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