Poll of the Day > Be careful with debit cards

(+) Yeah! (+)

Debit cards are a great way for people to manage their funds especially if they are not good at budgeting and cash management. Please remember they are one of the least secure payment forms. If someone gets your debit card Information they have direct access to remove funds from your bank account and typically it takes time to get this reversed. Also if you dont recognize this and Inform your bank timely you could be stuck. Credit cards offer much better protection and its their money not yours so fraud detection and prevention is much more sophisticated and recovery more accelerated.

---

Yay, credit cards!
:D

---

This is exactly what the Sheriff and his gang members want you to think about debit cards. It's why they're trying to shut down the real nightmare, electronic billing of US citizens who have parked their vehicles at grocery stores, gas stations, restaurants, motels, hotels, and pretty much anywhere else in the country. It's the most heinous form of credit card fraud.

Those paying cash just pay money-day interest rates of almost 20 percent. With fees and penalties.

It's the bottom line that the Sheriff and his cohorts in the 'Free-E-Cash' movement fail to understand. Banks could shut down just about anyone's account without warning without victimizing the person at the center of the alleged crime. Even the guy who allegedly stole a load of Bitcoins is completely defenseless against a bank in a 'Threatened Robbery' scenario. And, of course, due to the nature of the blockchain, nobody is ever in control of any funds. Each transaction is stored forever, and there are very few safeguards for it.

---

Pay how I pay!

---

OniRonin posted...

---

Cash is easier to manage because you can see the pile of money getting smaller.

How can one get more info from just the card number?

---

henryhill posted...

If someone gets your debit card Information they have direct access to remove funds from your bank account and typically it takes time to get this reversed.

At best they can give me money.

The touch-less pay (or whatever it is called in English) is disabled on my card, so if people want money from it, they will need the pin. It used to be that credit cards required no verification upon payment whatsoever, but even those require pin codes nowadays.

---

Yeah, I don't know why debit is so popular. It's unsafe and credit card is just plain better in every way, as long as you pay the balance each month, like you'd be doing w/ a debit as you go anyway. Debit's basically only valid for people who can't get a credit card or who have no self control.

zebatov posted...

Cash is easier to manage because you can see the pile of money getting smaller.

Pop quiz: I have a $20 bill in my wallet.
I buy something for $16 and hand over the bill, getting $4 back in change, and deposit it in my wallet.

Did my wallet get slimmer or thicker?

This is TCs only active post and he's been a Gamefaqs user since 2003.
This is very suspicious.

---

Cash baby. Will always be around despite what techies will tell you. As long as crime Lord's are in charge the cash will be in charge.

---

Most of the time the debit/cash price is cheaper than the credit card price at the gas stations though. They are at Safeway anyway.

---

I have a debit

streamofthesky posted...

Debit's basically only valid for people who can't get a credit card or who have no self control.

And this is why
---

i only pay in the secure method of cash which as we all know is the most safe method of transferring money

---

streamofthesky posted...

Yeah, I don't know why debit is so popular. It's unsafe and credit card is just plain better in every way, as long as you pay the balance each month, like you'd be doing w/ a debit as you go anyway. Debit's basically only valid for people who can't get a credit card or who have no self control.

this is one of these things that is rather specific to america that i've always found bizarre. do you guys not just have visa debits through your bank? does your bank not just give them to you? do you still go to physical bank locations if you need your own money?

credit cards are fine and good, but they don't replace debit cards. if you're a student, for example, you're not going to have a high limit. most people here have them for emergency purchases. although if i ever visit another country i can just use my mastercard which is kind of nice

---

I remember learning a while back that the USA just got chip debit cards a couple years ago. Canada has had them since like 2004. I rarely even use my chip anymore, tap works for purchases under $100.

---

faramir77 posted...

I remember learning a while back that the USA just got chip debit cards a couple years ago. Canada has had them since like 2004. I rarely even use my chip anymore, tap works for purchases under $100.

I'll never understand the difference between a swipe, an insert or a tap...why does it matter? All are quick anyway.

Anyway, you always need some cash on you.

---

LOLIAmAnAlt posted...

I'll never understand the difference between a swipe, an insert or a tap...why does it matter? All are quick anyway.

Anyway, you always need some cash on you.

Chip is alot harder to copy the information to steal money. NFC tap is the quickest payment method, and had limits to prevent fraud.
Swipe is just crap, it isnt secure at all, it is veru easy to copy the magnetic stripe.

---

streamofthesky posted...

Pop quiz: I have a $20 bill in my wallet.
I buy something for $16 and hand over the bill, getting $4 back in change, and deposit it in my wallet.

Did my wallet get slimmer or thicker?

If you're anything like me, your wallet should be over-inflatted due to all of the small change you receive, but never seem to spend.

Anyways, on the topic at hand. You can always disable the swipe-and-go (or whatchamacallit) function on debit cards; this way, even if your card is stolen, it will be useless for the thief (unless, he has a very sophisticated hacking tools; but in this case, why bother with some random mofo debit cards).

GNS1991 posted...

If you're anything like me, your wallet should be over-inflatted due to all of the small change you receive, but never seem to spend.

I use a bill fold, no room for coins. I keep them in my car in the compartment in front of the gear shift. Try to remember to grab some coins from there before going to buy something inexpensive, but mostly it just piles up...

Credit cards make me uneasy. They're constantly being offered to everyone and come packed with lucrative incentives to entice people into using them, which is great if you're responsible with it but is all ultimately being paid for by somebody. I get the feeling that the entire industry is built on exploiting people, like video games that lean heavily on loot boxes except to an even more extreme degree. I'm not worried about my own spending habits and self control, but it's still not a business model I want to support.

---

I like debit cards, because there is a finite amount (tied to your bank account), so you cannnot overdraw anything. Unlike with credit cards, where you have to pay in addition to paying back the sum you overdrawn interest.

GNS1991 posted...

I like debit cards, because there is a finite amount (tied to your bank account), so you cannnot overdraw anything. Unlike with credit cards, where you have to pay in addition to paying back the sum you overdrawn interest.

A debit card is directly tied to your bank account.
If you have "overdraft protection" applied (DON'T), I would think it's the same whether you overdraw by writing too large a check or using a debit for too much.

Credit cards don't "overdraw". You don't have to pay anything extra if you pay off the full balance each month, which is no different than having it taken from a debit card in the long run (except that you get to slightly delay having the money withdrawn, which is nice).

streamofthesky posted...

Credit cards don't "overdraw". You don't have to pay anything extra if you pay off the full balance each month, which is no different than having it taken from a debit card in the long run (except that you get to slightly delay having the money withdrawn, which is nice).

Then different countries have different rules for credit and debit cards. Who would have thunk (sarcasm). Credit card is literally in my country a credit (loan) in a form of a card. Virtually, you can take-out as much as you want, but if you exceed what you have (or what by agreement per month you can use), you'll have to pay that sum back + interest.

Yeah, that's not how they work in the U.S. You have a set credit limit that you can't exceed, and that limit is mostly based on how much you earn, not how much you have in the bank (they're more than fine w/ you paying it back over time w/ interest, after all).
Didn't know it was so different in other places.

Ferarri619 posted...

This is TCs only active post and he's been a Gamefaqs user since 2003.
This is very suspicious.

Plus the post itself is really weird. Kind of a copypasta kinda thing.

TheWitchMorgana posted...

credit cards are fine and good, but they don't replace debit cards.

Other than being a bank ID, debit cards really don't have much use and offhand I can't think of any time I'd use that over a credit card. A credit card has more protections than a debit and most have rewards programs.

I'm honestly not even sure that your privacy is more invaded by credit than debit, because banks sell your data as well.

TheWitchMorgana posted...

if you're a student, for example, you're not going to have a high limit

Students aren't going to have a lot of money in their bank account most of the time anyway.

faramir77 posted...

I remember learning a while back that the USA just got chip debit cards a couple years ago. Canada has had them since like 2004. I rarely even use my chip anymore, tap works for purchases under $100.

Not sure what chips you're referring to, since I struggle to remember when my debit card didn't have a chip -- then again, I barely touch the thing.

funkyfritter posted...

Credit cards make me uneasy. They're constantly being offered to everyone and come packed with lucrative incentives to entice people into using them, which is great if you're responsible with it but is all ultimately being paid for by somebody. I get the feeling that the entire industry is built on exploiting people, like video games that lean heavily on loot boxes except to an even more extreme degree. I'm not worried about my own spending habits and self control, but it's still not a business model I want to support.

It's not just interest on debt, they also receive transaction fees from vendors. Even if nobody carried a balance month over month, the companies would still be profitable (although obviously a lot less profitable)

The only real problem with the offers is that opening accounts will hurt your credit score in the short term.

GNS1991 posted...

I like debit cards, because there is a finite amount (tied to your bank account), so you cannnot overdraw anything. Unlike with credit cards, where you have to pay in addition to paying back the sum you overdrawn interest.

Uh, what? First, some debits DO have overdrawing and associated fees. Second, credit cards generally can't overdraw at all -- because overdrafting/overdrawing is something specific to banks where you have money in an account -- although some offer it as an opt-in program.

GNS1991 posted...

Credit card is literally in my country a credit (loan) in a form of a card.

That's literally how credit cards work in every country. That's why they call it a CREDIT card. You are purchasing on CREDIT. That means borrowing or, in other words, a loan.

---

i dont like debit cos they can drain your actual funds.

credit cards give you a chance to deflect/deny the charge

Zeus posted...

Uh, what? First, some debits DO have overdrawing and associated fees.

I already wrote that my debit card is linked to my bank account balance. If the balance is 0, then I can't use the debit card at all. Whereas that's not the case with credit card. End of story. Different countries may provide different rules on debit and credit card usages.

Zeus posted...

That's literally how credit cards work in every country. That's why they call it a CREDIT card. You are purchasing on CREDIT. That means borrowing or, in other words, a loan.

Thanks for repeating what I wrote.

I have a debit card, but would use it as credit. I also watched my account like a hawk. I would check multiple times a day. And make sure there weren't any weird purchases. And any weird purchases or money moving were dealt with immediately. Usually, it was someone borrowing cash... Haha.

I do want to get a credit to use for all my bills later on, but not until I'm done paying for certain things in my life currently...

LOLIAmAnAlt posted...

I'll never understand the difference between a swipe, an insert or a tap...why does it matter? All are quick anyway.

While the chip has gotten better, it's still slow compared to swipe. And it sucks because it seems to work less than the swipe. Sometimes, I have to enter it three times. And if it does work the third time, you have to swipe, anyway... I miss just being able to swipe...
---

i dont understand how a debit card would not be linked to a bank account. is it like a gift card you load funds on?

---

this is why I pay for everything with fake doubloons

---

Mead posted...

this is why I pay for everything with fake doubloons

>using fiat currency in current year
o i am laffin

---

GNS1991 posted...

I already wrote that my debit card is linked to my bank account balance. If the balance is 0, then I can't use the debit card at all.

I think he's thinking of the US still. In the US, you can usually still overdraw. I think you can set it up a certain way so that it doesn't, though. I just know that overdrawing from you bank account is possible... Or at least, was... Idk how other countries work... Though, I guess things are different. Like streamofthesky said, most of our credit cards have limits that we can't exceed, so...

TheWitchMorgana posted...

i dont understand how a debit card would not be linked to a bank account. is it like a gift card you load funds on?

Yeah. They do have those. You can buy them at the store like regular gift cards. But they can be used anywhere that debit cards are accepted. So, better than a gift card that can only be used at one place (Though, that's normally the point of a gift card). I think certain kid cards are like that, too. My sister and I both had one (not sure about my brother). They basically allow you to put money onto the card from another account and use it like a debit. There may be others ones, as well... But most normal debits are linked to an account, AFAIK...
---

Blows my mind that people carry their debit card around with them daily, or use it for every-day purchases

If you avoid CCs because you lack impulse control, then you'll just blow through your entire checking account anyway, which is also a problem. Cut the problem off at its source and learn to control your spending

---

Clench281 posted...

Blows my mind that people carry their debit card around with them daily, or use it for every-day purchases

Some people have to. Like if you don't have a credit card...

Clench281 posted...

If you avoid CCs because you lack impulse control, then you'll just blow through your entire checking account anyway, which is also a problem. Cut the problem off at its source and learn to control your spending

Not necessarily. With a debit card, you can see how much you have. And that can cause you not to spend just because you know you'll need it to live. Where with a credit card, you might say, "It's ok. I have more to use." And might spend more than what you have. Not to mention interest if you can't pay it off in the right amount of time. So, it's understandable why some might avoid it.

And if they do lack self-control, debit would be better. You may spend all that you have. But you can spend much more with credit. Making it hard to pay them back, and gaining interest the whole time...
---

Why did you start your post with "not necessarily" then just go on to either restate or agree with my point that the underlying problem is not controlling your spending

---

Clench281 posted...

Why did you start your post with "not necessarily" then just go on to either restate or agree with my point that the underlying problem is not controlling your spending

Because I dont fully agree. When I had a credit card, I had less impulse control. And was more likely to spend money because I had it on the card. But still didnt touch my actual bank account. When I didnt have a credit card, I still didnt spend all the money in my account. The credit card can actually cause people to have less impulse control. Though I dont see how you think I restated exactly what you said. Early on, I said, With a debit card, you can see how much you have. And that can cause you not to spend just because you know you'll need it to live. Which is different from what you said, which was, If you avoid CCs because you lack impulse control, then you'll just blow through your entire checking account anyway,. I do agree that controlling your spending is good to learn, it can be easier to do if you dont have a credit card. Which to some is like extra money.
---

Clench281 posted...

Why did you start your post with "not necessarily" then just go on to either restate or agree with my point that the underlying problem is not controlling your spending

Because you (or another poster, who cares) said that for those that can't control their spending, credit card is the better answer. It's like saying, hey, you like to overspend moneys, here, have a quick loan!

teddy241 posted...

i dont like debit cos they can drain your actual funds.

credit cards give you a chance to deflect/deny the charge

this tells me the US does debit cards wrong.

with European debit cards payment is only possible through the card holder's action.
I could take a photo of both sides of my debit card and share it here, and you wouldn't be able to do anything with it.
only with the addition of contactless payments has security dropped to the point that you can "steal" money with just the card, but only up to 50 with 25 per transaction as you need the pin above those limits.(temporarily doubled to discourage physical contact with payment terminals)

payment in stores is secure because you have to confirm your payment by inserting your card in a terminal and confirm with a pin, the terminal shows you the exact amount you'll be paying and information is not stored but sent straight to the bank.
without both the actual card and the pin payment is impossible, and the pin is not written on the card.

payment online is secure because you're not paying through the online store, the store redirects you to your bank's website or app with a payment request and you confirm the payment through the bank's login security features.
the store never gets to see your card number or any security codes, they only get to see the money being deposited in their account.
countries that don't use that system use direct bank transfers instead, which just takes away some of the convenient automation.

the only security on a credit card is remedial, not preventive.
there's nothing preventing someone who has seen your CC number and CVC(which you freely give away whenever you pay online) from using them for online payments without your permission.
the only security is that you can dispute the payments and that credit card companies are very lenient with this.

thedicemaster posted...

this tells me the US does debit cards wrong.

with European debit cards payment is only possible through the card holder's action.
I could take a photo of both sides of my debit card and share it here, and you wouldn't be able to do anything with it.
only with the addition of contactless payments has security dropped to the point that you can "steal" money with just the card, but only up to 50 with 25 per transaction as you need the pin above those limits.(temporarily doubled to discourage physical contact with payment terminals)

payment in stores is secure because you have to confirm your payment by inserting your card in a terminal and confirm with a pin, the terminal shows you the exact amount you'll be paying and information is not stored but sent straight to the bank.
without both the actual card and the pin payment is impossible, and the pin is not written on the card.

payment online is secure because you're not paying through the online store, the store redirects you to your bank's website or app with a payment request and you confirm the payment through the bank's login security features.
the store never gets to see your card number or any security codes, they only get to see the money being deposited in their account.
countries that don't use that system use direct bank transfers instead, which just takes away some of the convenient automation.

the only security on a credit card is remedial, not preventive.
there's nothing preventing someone who has seen your CC number and CVC(which you freely give away whenever you pay online) from using them for online payments without your permission.
the only security is that you can dispute the payments and that credit card companies are very lenient with this.

damn. that sounds reasonable.

GNS1991 posted...

Because you (or another poster, who cares) said that for those that can't control their spending, credit card is the better answer. It's like saying, hey, you like to overspend moneys, here, have a quick loan!

...no, I'm saying that those who like to overspend money, learn how to not overspend money as a more permanent solution


---

Clench281 posted...

...no, I'm saying that those who like to overspend money, learn how to not overspend money as a more permanent solution

Sure. But until then, a credit card wouldnt be good for them to have...
---

Clench281 posted...

...no, I'm saying that those who like to overspend money, learn how to not overspend money as a more permanent solution

Perhaps limiting their ability to spend could is a first step for them. They have at least acknowledged their issue and then chose to limit their ability to overspend until they grow up a little more. Admitting the problem is the first step in fixing it.


---

Or, get this: you use a throwaway debit card to pay for stuff online so even if fraud does happen (not likely) then whoever got your information will steal fuck all

---

thedicemaster posted...

with European debit cards payment is only possible through the card holder's action.
I could take a photo of both sides of my debit card and share it here, and you wouldn't be able to do anything with it.
only with the addition of contactless payments has security dropped to the point that you can "steal" money with just the card, but only up to 50 with 25 per transaction as you need the pin above those limits.(temporarily doubled to discourage physical contact with payment terminals)

payment in stores is secure because you have to confirm your payment by inserting your card in a terminal and confirm with a pin, the terminal shows you the exact amount you'll be paying and information is not stored but sent straight to the bank.
without both the actual card and the pin payment is impossible, and the pin is not written on the card.

basically how it is in canada, although if you got my card number and the security code on the back you'd still be able to use it online. the automatic fraud protection would probably get tripped up if someone made a lot of purchases that aren't in line with what i usually do

i think i also forgot that banks in canada are federally regulated whereas in the US they're mostly just private things, so a debit card you get from your bank is just as secure as anything else (with their fraud protection and stuff)

i think what americans call a debit card is closer to a cash card, or one of those gift cards you can buy at stores, but that wouldn't be the first time americans use the wrong term for things i guess

---

TheWitchMorgana posted...

basically how it is in canada, although if you got my card number and the security code on the back you'd still be able to use it online. the automatic fraud protection would probably get tripped up if someone made a lot of purchases that aren't in line with what i usually do

i think i also forgot that banks in canada are federally regulated whereas in the US they're mostly just private things, so a debit card you get from your bank is just as secure as anything else (with their fraud protection and stuff)

i think what americans call a debit card is closer to a cash card, or one of those gift cards you can buy at stores, but that wouldn't be the first time americans use the wrong term for things i guess

Depends on the Bank, i know both RBC and ATB both dont use what is essentially a CC number. They are just interac cards and dont have MC/Visa attached

---

streamofthesky posted...

Pop quiz: I have a $20 bill in my wallet.
I buy something for $16 and hand over the bill, getting $4 back in change, and deposit it in my wallet.

Did my wallet get slimmer or thicker?

And yes, once you spend that last bill, the bills are all gone, now you have even less money.

---

Smarkil posted...

i only pay in the secure method of cash which as we all know is the most safe method of transferring money

unless you get mugged. if you get your card stolen you can can cancel it
---

Mead posted...

this is why I pay for everything with fake doubloons

Are they at least the chocolate kind?!

LinkPizza posted...

I think he's thinking of the US still. In the US, you can usually still overdraw. I think you can set it up a certain way so that it doesn't, though. I just know that overdrawing from you bank account is possible... Or at least, was... Idk how other countries work... Though, I guess things are different. Like streamofthesky said, most of our credit cards have limits that we can't exceed, so...

In a lot of nations, you can overdraw. It's really up to the bank.

Clench281 posted...

Blows my mind that people carry their debit card around with them daily, or use it for every-day purchases

I don't use it, but I need it if I ever want to withdraw cash, etc. I guess in theory I could leave it at home but... meh.

thedicemaster posted...

this tells me the US does debit cards wrong.

with European debit cards payment is only possible through the card holder's action.
I could take a photo of both sides of my debit card and share it here, and you wouldn't be able to do anything with it.
only with the addition of contactless payments has security dropped to the point that you can "steal" money with just the card, but only up to 50 with 25 per transaction as you need the pin above those limits.(temporarily doubled to discourage physical contact with payment terminals)

You might think that, but there are always going to be ways around it.

TheWitchMorgana posted...

i think what americans call a debit card is closer to a cash card, or one of those gift cards you can buy at stores, but that wouldn't be the first time americans use the wrong term for things i guess

...what?

Not to mention that debit cards *began* in the US, so if anything it'd other nations using it wrong.

https://www.marketplace.org/2011/08/18/short-history-debit-card/

Debit cards weren't a thing in Europe until the late 80s:
https://www.marketplace.org/2011/08/18/short-history-debit-card/

And what I think you're trying to describe (ie, the grocery thing) is a pre-loaded credit card or a prepaid debit, although I'm not sure how the fuck you could confuse the two.


---

how indeed, zeus

---

If you have a credit card and/or don't want a debit card, most banks will let you request a free ATM-only card instead. You can use it to access your money through ATMs but it will not work for purchases.

---