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Can I cancel Banistmo's antifraud insurance on my Mastercard?

Can I cancel Banistmo's antifraud insurance on my Mastercard?
Legal & Financial 2 answers • MiguelMiguel
I have a savings account with a Mastercard and an interbank account with Banistmo. Every month, they deduct 2.5 dollars from my account for antifraud insurance. I only use my card for online purchases, so I'm not sure if it's worth the 30 dollars a year I'm paying on top of the card fees.
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2 Answers

Leandro Cardoso •
You still use your card for online purchases, which is considered a high-risk activity. You might want to consider keeping the insurance to protect yourself from potential risks.
Dmitri Orlov •
I had my card cloned and stolen 10 years ago, and I was able to recover the money after 6 months. It's better to open a separate account and transfer funds to the card as needed, rather than keeping all your money tied to the card. This way, you can minimize your losses if something goes wrong.
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