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Despite there being a lot of information out there on how easy it is to hack RFID/chip-enabled cards people still aren't taking safeguards (just check out all the videos on YouTube).
Just make sure to shield them with a sleeve or shielded wallet.
My .02,
-Guy
p.s. I still might considering getting one for my "salary account" if it's easier for withdrawals that way...
Received my debit card yesterday against my equity PM account. I'll report back on how it works out. Note that in TWS, there is now a row in accounts > balances > pending debit card charges.
Applying for the card was quick, took under 5 minutes as IB already has all your info. Basically just agreeing to the card terms. Regarding card theft, it sounds like there are typical card monitoring protections in place; in addition, for large transactions you would need to pre-approve with your IB 2fa app, so there is that. I'm just happy equity backed borrowing is available to retail customers, where similar offerings have always been available to the super wealthy.
was to hear from the HQ: "If this debit card will be a success in US - then
on further continents the same card might be introduced with local MasterCard
Banks" - just wait - BUT:
Call your IB contact and ask too! This will make them think of the need....
Anyway now I understand Debit Card is handy while you do not have to make any transfers to your local bank until you can spend your huge trading profits