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(AZ Family)   Gas stations, online purchases, your neighborhood crack house, and other places where you should never use your debit card   ( azfamily.com) divider line
    More: PSA, debit cards, crack house  
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8315 clicks; posted to Main » on 10 Jan 2013 at 8:08 AM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2013-01-10 11:16:03 AM  
1 vote:
Had some bastard transfer $1500 out of my account on Dec 20. $800,500,and 200 dollar transactions. Didn't even need to steal my debit card number when they apparently went to some 3rd party transfer service (bluebird) popped in my account number (which is written on your checks for all to see) and sucked the money out like some sort of cash vampire.

Called Wells Fargo, and they refunded $800 dollars and then considered the matter closed. I call them up and ask where the hell the rest of the money was. "Oh, you mean those other bluebird transactions on the same day were ALSO fradulent?" Well....yes. "Oh, you'll need to open a new case then".
2013-01-10 11:13:35 AM  
1 vote:
When I was 20 I got a job that involved traveling a lot. I had to get my own hotel rooms, but I was later reimbursed for the expenses. As long as I was careful, I figured I'd be okay since I had a pretty big paycheck coming after all those expenses (pretty big for a 20 year old).

I used a debit card at each of the four hotels I stayed at the first week. Each of them placed a $200 hold on my account for a $60 room, so that was $1,040 plus tax gone from my account. I can promise you that some banks at least DO treat a hold as if the money is gone, because the bank started hitting me with overdraft fees for every transaction I made after about Wednesday. I had eleven $30 overdraft fees to take care of by the end of the week. I was damned lucky that when I explained the situation to the manager of my small-town bank, he waived the fees and got me a credit card. Now I don't even have a debit card. fark 'em. I'd rather argue with a credit card company over whether I owe money than try to get money back from somebody who cleaned out my account.
2013-01-10 09:52:27 AM  
1 vote:

Cythraul: Ohlookabutterfly: Wow are things ever backwards in the states. Mydebit card has never left my sight in a restaurant, don't you guys have wireless debit machines that the waitress brings to you down there?

What the hell are wireless debit machines? Never even heard of one of those. Closest thing I can think of is that hardware attachment and app combination for cell phones that can turn your cell phone into a card transaction machine.

As for a gas station transaction withholding more than the purchase, wtf? The transaction is digital and instant, if the money is not in your account, you don't get to buy the gas. Where in the world are there banks that don't communicate transactions with each other instantly? As for money being refunded, again it's an instant transaction, the merchant simply reverses the funds back to your account the same way they took it out, with the debit machine.

I'm not familiar with the technical details of electronic transactions, so I'd like to know the answer to these questions as well.

All electronic transactions go through whats called a merchant. These merchants are the middle men that process the transactions, and handle all the money transferring. Typically merchants are affiliated with a bank. Most small business, like gas stations, actually don't charge your card immediately the transaction happens. All charges are usuallysent once a day as a batch. What they actually do when your card is read, is that it just gets a signal back as to whether its authorized or not. There has to be a value in there for authorization, so they will set it at $50, $75, or $100. Now the merchant knows there was a request for authorization for a card, and if you don't submit an actual payment for that card through a batch, not only is there a hold of the amount you put in on that customers line of credit, the business will get charged fees for not batching in a certain amount of time, because they want to deter you from testing cards limits and then ripping someone off somewhere else. Also there is a fee for submitting a batch, like .20. So in order to keep costs down, they don't submit every charge individually, as it would cost 20 cents more each time. There is such a small profit margin on gas when it comes to the individually owned station, that sometimes they may not batch until a certain dollar amount has been paid.
2013-01-10 09:44:03 AM  
1 vote:
"Always avoid using your debit card for deposits because the deposit comes immediately out of your bank account."

I haven't had my coffee yet, so maybe I'm slow this morning, but I have no idea what this sentence means.
2013-01-10 09:35:11 AM  
1 vote:

alywa: To all the people biatching in line... FU. This is my time. Don't like it? Use the self checkout.

If EVER I see you in the grocery store, I will put rat poison into your produce.
2013-01-10 09:25:52 AM  
1 vote:

Smidge204: CSB:

My debit card is emblazoned with the "MasterCard" logo, which means all transactions are functionally credit card purchases except the money comes directly from my bank account so I don't accumulate debt and therefore pay no interest. (No bank fees either unless I use an ATM, which I never plan to.)

I've had the card info stolen once, and getting my money back only took a call to the bank and filling out a form that was mailed to me. Getting a new card was actually harder 'cause I had to show up in person at the bank for that.

The moral of the story is; get a better debit card.

I use a credit card for all my purchases. I don't accumulate debt or pay interest since I pay it off every month. On top of that I get 1-2% cash back on all my purchases which easily amounts to a few hundred bucks of free money a year which you *dont* get with your fancy debit card.

Moral of the story; get a credit card and learn to use it.
2013-01-10 09:14:04 AM  
1 vote:
A little known fact is that you get product insurance and other benefits with most major credit cards, that you don't get with debit. Seriously, go to your bank's website and you should be able to find all the benefits you get from your credit card.

Plus, I figure there's enough chance of cards lost, stolen, or recorded for fraud, that I'd rather that happen to Visa's/MC's money than my own money direct from my checking account. Screw that.
2013-01-10 09:02:09 AM  
1 vote:
Americans trying to figure out debit cards are so damn cute. American banks trying to figure out how to fark them bloody with debit cards is annoying. You guys need to push for some legislation over this because your banking system is screwing you big time.
2013-01-10 08:58:48 AM  
1 vote:

Buttle not Tuttle: Am I missing something here?

Yes, this "article" is underwritten by a bank lobby.
2013-01-10 08:17:01 AM  
1 vote:
I guess getting unauthorized charges reversed is harder at some banks than others.

We had a $1000 charge made on our debit card in London that was fixed the same day we reported it.

It kind of sucks that my debit card has been to England and I haven't.
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