As if I didn't have enough stress!

School sucks right now, have an A,B,C,& D, I'm stressed about that. But I come home today and I check my bank online and see that someone's used my debit card # to purchase $300 worth of soccer jerseys (WTF? SRSLY). SO I immediately call the bank (india) and tell them, guess what, since it's only pending they can't do anything, even though I alerted them, I have to wait until the money is stolen out of my account to file a fraud dispute, ridiculous. At least, I limit my liability to $50 by reporting it within two days (per FTC.gov), but it's a damned ass backward way to do it. BTW the banks solution, call the merchant,sigh, well their 800 number rang and rang, the other contact number went to voice mail, so they got a long detailed message. And of course, I cancelled my card, not at the banks suggestion. I has bad feeling about what a PITA this is going to turn into...

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Doctor What9 years ago
If someone purchased 300 bucks worth of soccer jerseys it sounds like it would be easy to trace to the (censored) that stole it, right?
It is just that the banks don't always have much "concern" about debit cards....tees me off that we allow ourselves to go so unprotected (I mean I am mad at the banks).
So both of them (credit and debit cards) are awful? Then how will I buy stuff online!!!!
At least with the Credit card, you have some protection.

With (most) debit cards, little or none.

Check this link out.
When I opened my most recent bank account, I specified that *I did not want a debit card* for that very reason, Goodhart. They tried to convince me I must have one to use their atm, I said no way. I just want a plain old atm card, not a point-of-sale debit card. I got it, too.

Banks like us to use debit cards because they are just credit cards that get paid off immediately. BUT BUT BUT, the bank (because it's structured as a credit card) can charge the store the same fees a regular credit company does for each transaction. So your bank charges the store a percentage everytime you use your debit card. They charge the same fees as a credit card, but they never have to carry a balance like a credit card does. So they make the same sort of money without taking as much risk.

I say use a regular credit card and pay the balance off each month (or write checks). My bank already nickels and dimes me like crazy, I'm not going to help them make money each time I buy something as well.
or write checks
*shiver* I will have to fine the article on that and post it. There is almost nothing as unsafe as a "check in the mail" Sooooooo many people have access to your "bank account number" and the "routing number" at the bottom of the check. It is really scary for me to send a check or even hand someone a check anymore.
I quit writing checks when e-withdrawals became big. The instant access to my account bothers me. I pay a couple online, others I pay ahead 3-4 months at a time using money orders. Since I can guesstimate my utilities, I just take out enough cash to pay them in advance. The saving of time & postage more than makes up for the cost of the money orders. Now I have a precedent of activity on my account: only two certain companies ever make e-withdrawals, and the only other activity is cash withdrawals in person. If I ever have a problem, I can point to the last four years with only three entities ever taking money from my account. Anything else is not approved. I've never even used my atm card, just have it around for emergencies. Like you, I am careful about who has a chance to see my account info. I am actually thinking about doing away with bank accounts all together. I don't like the paper trails they create.
Tool Using Animal (author)  Goodhart9 years ago
Yes with a credit card you have legal rights, with a debit card, yer boned. So anyways, I spoke with the merchant this morning, he said he'll cancel the order, so hopefully my money will be freed up in a day or two. Scary thing, to quote the merchant "we have this happen a lot". He wouldn't give me the shipping addy other than to say it was in Irving Tx, too damned far for me to drive to murder the SOB's. Spent today checking all my other accounts, and changing passwords. Monday I'll pull my credit report.
Yep, that is good. I did a lot of that stuff right after I finished reading a book on identity theft, etc. I was hoping to be a little pro-active, but no one has been messing with my accounts so far. The one time I used a debit card I regretted it even though no one tried to "pull anything" on me, a mistake was made and because it was overseas, things got real messy as my bank got real testy about their "being nothing wrong" when there were 3 charges (instead of one) on my account, and they weren't even the same exact amounts, but varied by a few dollars. Finally, they got is all straightened out (I literally had to create a PayPal account in order to get the money, as the merchant and I both had gotten fed up with the banks messing around with this).
Tool Using Animal (author) 9 years ago
Got caught up with spring break studying, let you know, I got my money back, yea, and my credit report was clean, double yea.
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