Is that the banks rules? Or is that policy recognized by the feds? I just don’t use my debit card for most purchases. I think the security it’s not the same as a standard credit card, with the protection part.
That’s long been the myth but not true. I challenged a debit charge and bank credited the amount back to me, cancelled the card and mailed a new one.
Yeah, about five minutes. I can live with that. Got a txt msg and quickly called.
The debit card I carry is linked to a second checking account that never has more than $500 in it, and can only be used up to $250 per day.
My long time CC has a cap of $18,000.
It was easy to decide which card to carry and risk losing.
In the theft of my bill fold the thief used my debit card with out the pin number.
I have noted at some transactions you can use the debt card as a “credit transaction”.
My guess is that is what happened.
BTW: I have bank app on my phone that alerts every time the debit card us used.
Good safety feature,
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So far, the only non-PIN purchase I’ve made is at Kaiser Medical. There are probably more.
Im sure Card Not Present transactions don’t require the PIN…like when you order online.
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A number of years ago, I attempted to make 2 semi-large value purchases on a BA credit card a few minutes apart. I guess it triggered an alarm for the BA folks as they put a hold on the second purchase until I confirmed, by phone I think, that both were legit and made by me.
Mentioned this before. I drove from the Cal Bay Area to Seattle and tried to get a motel room. My card was denied and I had to call B/A.
Their system did not show airfare, gas, meals or any purchases that day during my ‘trip’
Their computer did not consider that I might drive and use gas CC’s.
Had the same issue with both BOA and also Citi bank. Made 2 or 3 purchases within a short period of time[purchases were on the small side]. Like you said, triggers some kind of alarm.
Before any longer trip, go into your CC account and set up a “Travel alert”. You tell it what states or countries you will be traveling through. Works for me.
Exactly my experience with Discover Card - I bought something much larger than customary spending and they called me to confirm it. Two separate occasions I had my card compromised-once by loss, once by theft. One call got a reissued card with new number each time and no liability for interim charges. They have been very much on the ball.
I prefer credit cards as rates there are much lower. I recently switched to direct express card service that I found here and I’m pretty satisfied with its work and terms.
Years ago, my bank issued me a debit card, which I didn’t want, because it’s not secured with a PIN. They insisted it was. I walked to a Hallmark store and made a purchase with the debit card – no PIN needed.
I asked for and received an ATM card.
I also prefer to keep my purchases separated on a credit card, and other payments on my bank account. That’s just me and how I organize things!
plus most of my credit cards have alerts I can put for purchases, etc., which is really helpful.
Using Your Debit Card
Read Clark’s article today about the dangers of using a debit card and he suggested if you must use a debit card get a second checking account and not use your main checking for debit purchases. My question is, should the second checking account be with another bank entirely?
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I believe Clark has often said that it should be at a different bank/CU because they could transfer money from another account if one account is overdrawn. I asked my CU about this and there was a setting that could be changed to not allow automatic transfers from one account to another in the case of insufficient funds. With that in place, I could probably have another checking account with a debit card and be pretty safe. But, this seems too complicated and I just don’t use the debit card anymore except for ATM withdrawals. I also got rid of ACH for paying utilities and such as none of mine charge a fee for using a CC. I do use ACH to pay the CC off every month.
It is recommended that if your primary account is at a traditional bank, then your second account is at a credit union or online bank. If your primary account is already at a credit union, then open your second account at an online bank.
There isn’t a problem with opening your 2nd account at the same financial institution, as long as they aren’t linked for any sort of overdraft protection.
When I started a new checking account at my current bank I requested an ATM-only card and they issued me one, no problem. A few years later they sent me a debit card. I cancelled it and still use the ATM-only card.
I’m in the minority here with an unpopular opinion. But I still do not understand it.
1-My debit card has a 6 digit passcode. Foolproof? No, it does add security.
2-My debit card has a $300 per day shopping or ATM limit.
3-I get an email immediately when it’s used.
4-According to my bank, worst case would be $50 loss and no more.
[I know there is a time limit, but I know the instant it’s used.
Meanwhile…
1-My CC has an $18,000 credit limit.
2-It does not have a PIN code.
3-Anyone could rack up thousands of purchases in no time.
[which is why it never leaves the house\
My bank proudly says it’s safe because I won’t lose anything.
The debit PIN is a prevention, but fixing the theft of my CC is done after.
In my mind, I prefer prevention rather than correction.
Yes, this topic has been beat to death.
I don’t disagree, but I had bought something online with a debit card once where I received the wrong item. I tried to dispute it with my CU and they said that I had to work with the retailer to get this fixed. The retailer never responded and the CU said they couldn’t help. They said something about the debit card being a “promise to pay”. That was the last time I used it to buy anything online and have slowly stopped using it since.
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