Debit Cards and Fraud
Cil Burke BSN
The shocking truth is that recently I was engaged in a conversation about money. Big surprise, huh. The guy I was talking to was discussing his determination to not use checks. Doesn’t have ‘em to use.
The only way he accesses his checking account is through his debit card.
That made me think….when and why do I use checks? Is it just because I’m an old fuddy-duddy? (using the term is an automatic qualifier)
I use Checks :
Are Checks Soon To Be Extinct?
- The automatic debit for a mortgage payment once got tangled up and was so damn difficult to fix-I decided never again with a bank draft for a large institution. It took months to fix, a lot of cuss words and gnashing of teeth, and so much time on hold I could’ve written Atlas Shrugged….So, check writing it is.
- The local small business owners who do things like repairs to our house. I could use cash, but it is more difficult to keep a record of the paid transaction. I want to avoid the tax man when I sell, so I keep up with home improvements and repair.
- Gifts for miscellaneous things such as birthdays and weddings. Usually I do the online order thing, but sometimes it works better to send cash in the form of a check.
Debit Cards
- Outside ATM machines-these are probably the least safe places to use debit cards. They are easy prey for those using hidden cameras to get your PIN and also stick a reader onto the card slide that will read your card without you knowing it.
- Gas stations-Especially risky are those really busy multiple pump locations that are usually not well monitored. Those card readers and hidden cameras are again popular and easy to install at these busy places.
- Restaurants- I know we here about this risk all the time. Problem is the difference between credit and debit cards is significant here. The sleazy server may leave your card unattended and the real culprit may be difficult to locate later. On top of that, in the mean time your checking and back up protection savings account can be plundered.
- Online purchases-Always use a credit card for these transactions. You give information to what may be reliable sources but even giants like TJ Maxx have had their encrypted files pilfered. Those with credit card purchases had some hassle but the whole problem was very limited. For the debit card users, it took much longer and the repercussions were far more severe.
Moral of the Debit Card Story
Which do you use? Are you a devout debit card user? Have you suffered any of the consequences of using one?
{photo credit: comedy nose c.c.}
My goal is 1000 Facebook likes before the end of the year. Please hit the “Like” button and help me reach my goal.
Follow-Twitter-@DrDeanBurke and @cilburke
Like-Facebook
Circle-Google +
Link to me-at Linked In
Friend-Facebook
Don’t miss anything here-RSS
Tags: are written checks old fashioned, avoiding debit card mistakes, debit card mistakes, the problem with using debit cards, when should you not use debit cards
I rarely write checks but recently had to use a lot in paying the various vendors during our kitchen remodel. Many won’t take credit cards or give a discount for paying with check/cash.
I even pay our property taxes online!
It is difficult to become completely paperless. I wonder what those vendors would do if their customer said, ” I only have a debit card” ?