I have a debit card issued by my bank that carries the Mastercard logo and includes a card number like a credit card. I'm wondering if the fraud prevention and security measures that Mastercard applies to credit cards also apply to debit cards with the same branding.
Additionally, would there be any advantage in ordering a credit card from the same institution, considering potential differences in fraud protection or consumer rights?
There are several separate issues:
For most parts, debit cards and credit cards are manufactured similarly, often times exactly the same. The physical cards will include similar security features like a hologram logos, UV logos, CVC printed on the signature line, magnetic stripe encoding the card information, and an EMV chip encoding the same but in a more secure manner, and the card details and holder name embossed/printed on the physical card.
Debit cards can use different networks from credit. For example, ATM networks that Mastercard-branded card can use may be different from the Mastercard own credit network. Each network has its own fraud detection mechanisms. Debit transactions require a PIN code at the point of sale (POS). Transactions in which debit cards used as "credit" at checkout are routed through the credit networks and don't require PIN. It will still be charged to your account immediately though, once it's posted.
Credit and Debit transactions are distinctly different.
Debit card transactions are charged immediately and the money leaves your account once the transaction is posted. Moreover, the money is blocked on your account once the bank authorizes the transaction, until the block expires or canceled by the merchant or until the transaction is posted. In case of a chargeback on a posted transaction, the money will not be returned until after the dispute has been resolved in your favor and you're on the hook for it for the entire time. Debit transactions are treated as ATM withdrawals (and require PIN validation at POS, unless "credit" was selected).
Credit card transactions are charged to your credit account (your credit line with the issuer), and money doesn't leave your pocket until you pay your credit card bill. In case of a chargeback, while the dispute is ongoing you're not required to pay the bill for the disputed transaction until the dispute is resolved in the merchant's favor. Credit transactions (and debit transactions where "credit" was selected at POS) run through the credit network of Visa/Mastercard with its fraud detection system which puts much more onus on the merchants. Credit transactions are more expensive for merchants to accept (both in terms of fees, and in terms of risk being shifted from the cardholder to the merchant). As such, merchants may include different fees for credit card processing vs. debit card charges.
Laws provide different protections for debit cards and credit cards. For example, in the US there's much more legal protection for credit card holders than for debit cards'. In the US, the credit card holder liability is limited to $50 in most cases of fraudulent transactions (and most banks waive even that), and all the credit card issuers allow disputing transactions for various reasons. Debit card/ATM transactions are treated like cash withdrawals, and allow very little legal protections outside reporting the card lost/stolen and having the bank cancel it. For debit card transaction the liability limit of $50 is dependent on prompt reporting, and may go up to $500 or disappear altogether if the customer takes their sweet time reporting fraud. Since debit transactions require PIN at the POS/ATM, it is also very difficult to prove fraud, and since the money is out while the dispute is ongoing it is also very costly. See the USA Today article on this.
You can find more differences described between debit and credit cards in this question.
I'm wondering if the fraud prevention and security measures that Mastercard applies to credit cards also apply to debit cards with the same branding.
They may be very similar from a network perspective.
would there be any advantage in ordering a credit card from the same institution, considering potential differences in fraud protection or consumer rights?
The big difference is the delay between the fraud and the loss of your money when the transaction is with a credit card. There are multiple weeks between when the fraudulent transactions happen, and when the money is removed from your bank account. That gives you time to review all your transactions before transferring the money from your bank account.
If the fraud is connected to a debit card, the money can be gone in minutes. By the time you notice and can file a complaint you could have bounced checks, and other debit card transactions. Usually the money will be returned to your bank account, but that can take a while.
