In article ,
hatunen@cox.net says...
> On Sun, 25 Feb 2007 19:00:23 -0500, krw wrote:
>
> >In article ,
> >hatunen@cox.net says...
> >
> >> Well, it's just that you seem to be pretty upset about it,
> >> somewhat out of proportion to the fact that you didn't lose a
> >> cent. Stolen wallets are indeed a nuisance, what with replacing
> >> drivers licenses, social security cards, et al.`For e the credit
> >> cards are the least of it.
> >
> >You carry a Social Security card? "cards?" Why?
> >
> >> You want hassle, wait till they steal a debit card with a Visa or
> >> MasterCard logo on it. I keep refusing them from my banks and
> >> credit unions.
> >
> >Why? The T&Cs are the same as for a credit card.
>
> As I note in another post, the "no-loss" guarantee for a debit
> card is a pledge by the bank, not a federal law. Most reports are
> that the banks are being pretty good bout honoring the pledge but
> there have been reports, even in this group, of problems. And in
> a dispute one has to remember the bank has more expensive lawyers
> than you probably do.
Do you believe everything you read in this NG? Banks rather like
having customers. They generally will try to keep them. You think
a jury will favor a bank? Frankly, I'm not too worried.
> Logoed debit cards, like credit cards, can be used in many places
> where no PIN is required, if you designate it to be used that way
> when using it. Many points of purchase will not require a PIN in
> that case.
Sure. It goes through as a "credit" transaction. CCs don't
require a PIN either.
> With a stolen credit card, you simply get statements from the
> issuer, you point out the bogus charges, and they don't charge
> you for them. Your bank account stays intact.
>
> With a logoed debit card, the money is gone instantly from your
> account. Even if the bank makes good, during the time delay your
> deleted account may be bouncing checks.
That is a difference. Small, though a difference. Debit cards are
quite useful, enough to outweigh this possible inconvenience.
> My regular ATM card (strictly speaking, regular ATM cards are
> also debit cards) always requires a PIN. When my wallet was
> stolen in Paris no attempt was made to use the ATM card but some
> $600 was run up on my credit card.
--
Keith |