blh

I believe that the confusion on the debit vs. credit on the checkcard is this: at some merchants, grocery stores for example, when you run your card in the little machine, you can say debit (put in pin #) or credit and then you sign the receipt. If you are using a checkcard (debit card), all funds come from your checking account regardless whether you push the "debit" or "credit" button. The only difference - if you want cash back - you push "debit" and put in your pin #. If you prefer not to put in pin # (someone might be looking over your shoulder), then you push "credit". This is where the confusion comes in - it is a debit to your checking account either way.

elaine

I just got back from my bank (Chase).
They say they cannot issue a debit card that has a $0 limit on purchases (purchases as opposed to atm withdrawals.) They've already given me an ATM-only card (no mastercard or visa logo). The officer nicely offered to also provide me with a new debit card with a mastercard logo as I had before (that I'd canceled due to a fraud problem). So for a while I'll have both kinds of cards for the same account, and the debit card with MC logo will presumably avoid any atm refusals in Europe.

What I will not do anymore is use the debit card for any purchases, in fact while at home I won't even carry it since I will have the alternate atm card. I will therefore not be providing the number to any merchants. For purchases I will use a separate credit card. The bank lady told me that when the atm-only card expires in 3 years , the bank may not replace it since the record will show that I also have an atm card. I'll worry about it then.
I'm also looking into that Texas bank, but not sure I want to have a separate account, even if free.

flygirl

I lost my ATM card in San Francisco. I think it must have fallen out somewhere when I opened my wallet, as I clean it out before trips and then it's quite loose. thank God it was only the ATM card, not the debit card!!

elaine

ATM card update

My sister just got back from England. She used an atm-only card for cash withdrawals (no Visa or MC logo on it.)
She was able to use it in every bank atm she tried, was NOT able to use it only in the private atms found in shops.

Budman

elaine, ask her what networks she has on the back of her card. My VISA Debit Card has MAC/NYCE/PLUS. It worked in all but one machine in Ireland -- probably not on the PLUS network.

My M/C credit card only has Cirrus.

thelittleone

I have a Debit Mastercard from Astoria Federal Savings Bank. Does anyone have any experiance with this bank, or debit mastercards overseas? I will be traveling through Hungary, Poland and Austria, and would like to use this as my primary source of funding.

Budman

I can't imagine it would be any different than a debit VISA card. I would make sure you have a 4-digit pin, and a back-up credit card.

skatterfly

I was just talking about this with my husband, who happens to work for a bank.

His understanding is that with any fraud (credit card or ATM) you're only held liable for $50 dollars. That didn't use to be the case with the ATM/debit cards but it now is.

We will each have a credit card with us (2 different accounts in case one is lost) and each have an ATM debit card that accesses the sme account. Though we're thinking, because of this post, to cancel the debit card functionality on it.

Just wondering if anyone knows any drawbacks to having an ATM-only card without the debit functionality?

~kat

tashak

I can't think of ANY advantage a debit card has over a separate ATM card (where PIN is required to access funds from your bank account) and a separate credit card (where no money comes out of your account...all transactions charge to your credit card.)

Debit cards were developed so people with bad credit could have something like a credit card. If you can get a real credit card why bother? My bank sent me a debit card in place of an ATM card...I demanded a plain ordinary ATM card (with PIN required for ALL transactions). If your bank won'tdo this , find one that will!

I would NEVER have a card that accesses my bank account unprotected by a PIN code!!

surfingmomma

ok-forgive me---i'm from back in the "dark ages"--(i'm 50+)-but we are getting our first ATM card, before we leave for a month in italy.
some of you stated your cards do not have MASTERCARD/VISA LOGO. why? whynot?
thanks
surfingmomma

xyz123

An ATM card with the cirrus, plus, nyce, star or other logos and not the visa or mastercard logos can be used in ATM's with a PIN number to access your bank account to get cash. It can also be used at something called POS (point of sale) terminals mostly in the US but sometimes in Europe to make some purchases using your PIN number. The transaction clears through the pos system, not a credit card system, and when it reaches your bank the amount is debited from your chequing account.

If the mastercard or visa logo is added, you can use the card in a manner similar to a credit card. That is you present the card, sign a sales slip and do not enter a PIN number. To the merchant, you are using a credit card. The transaction clears through the credit card system and again when it reaches your bank, it does not create a credit situation leading to a bill but rather the amount is immediately debited from your chequing account. This is what is meant by a debit card.

Clear so far....

Now the theft of credit card numbers is rampant in Europe; it is going on in London to a very major degree unfortunately.

If they steal a credit card number, they sell it on the black market and pieces of garbage, mainly in Eastern Europe, use it to make purchases through mostly the internet. Suddenly you receive a bill with thousands of dollars of charges.

No big problem. You call the credit card company, fill out an affadavit, the charges are removed from your account. You will have to get a new credit card number and deal with those merchants with whom you have automatic payment agreements but it really does not create anything other than a disquieting thought of what kind of garbage lives in this world.

OTOH if they steal your debit card number, well when the illegal charges clear the system they quickly empty your chequing account. Any cheques you have out turn to rubber. The money is out of yuor account.

Eventually you will get your money back but the hassle is somewhat greater than with a credit card. And the embarassment and charges some people charge you for having a cheque with insufficient funds returned is downright embarassing. Many people now charge as much as $30 for payingh with a rubber cheque and in many cases will not credit this when your account has been compromised.

ATM only cards can be compromised; there are scams going on with them too but the piece of slut pulling this garbage also has to steal your PIN number; yes they have ways of doing it but for the most part, it is somewhat harder.

That is why many people do not want to use debit cards...

It's too bad there are so many sub human animals in this world who pulling garbage like that. In many cases, the animals are the waiters and clerks in the store who steal the cc numbers. They should rot in hell.

djkbooks

An ATM card allows you to withdraw cash from your account at an ATM. No matter where you go, your bank must be on one of the same networks as the ATM you are attempting to use. You can determine same by looking at the logos on the back of your card (Cirrus, Plus...) then finding an ATM with one of the same logos.

An ATM/debit/check card can be used either to withdrawal funds from your account or make purchases. Those with the Mastercard logo are "Master Money Cards". Those with the VISA logo are "Visa Check Cards".

Depending upon the vendor's processing equipment, if you are making a purchase, you may be asked "debit or credit?". The cost to the vendor of processing your transaction is different for a debit than a credit. Some banks charge YOU a transaction fee each time you use your card as a "debit" transaction, but not when using it as a "credit" transaction. This depends upon your bank and the type of account you have established.

It is far more risky and inconvenient if you lose a debit card than a credit card. Your rights of recovery are NOT the same with a debit card as with a credit card. Without your PIN, anyone could wipe out the balance in your account very quickly by making purchases with it. And, this may not be resolved quickly.

If you have a debit/check card, it is absolutely essential to read and understand the Agreement your bank issues with the card (and not necessarily listen to the explanation the teller at the bank gives you).

I would completely disagree that "Debit cards were developed so people with bad credit could have something like a credit card."

Debit cards were developed to eliminate paper transactions and handling. The advantage to the consumer is not having to carry checks, pen, ID, wait for approval. The advantage to the bank is that transactions are completely handled electronically, without the need for processing mountains of paper transactions or paying people to do so. Electronic transactions virtually eliminate errors as well.

surfingmomma

WOW--OH-WOW---thanks to both XYZ123, and DJKBOOKS, for the vast information. Now--i'm somewhat of a "scardy-cat"--and this makes me want to go back to 'ole Travelers Cheques.
I met a young woman, last week, that had her identity stolen--by a clerk, here in the USA. she had great agony getting it straightened out--and it all stemmed from a credit card purchase she made--and yup--XYZ123, it was the clerk that stole her numbers! uggggg-what to do!
thanks ever so much--gottta do more thinkng.
surfingmomma

smacknmo

Does anyone know why there isn't a PIN # required to make credit card purchases? It seems to me that would dramatically cut down on fraud.

xyz123

Why isn't a PIN number required? Well British banks have looked into this and are considering it.

Basically, the banks don't care about all this fraud...they are making money over heels on credit cards and the loss of a few million because of fraud...well they make that up by such devices as absurdly high interest rates for the suckers who don't use credit cards properly i.e. as a charge card and pay their bills each month.

So...that's where it stands as of now.

I agree, use of PIN numbes would cut down on some of the fraud but there are ways of compromising them too.

Christina

As an update -- re the idea of using a credit card for cash withdrawals for free by overpaying the card. Those who have no transaction fee for doing that are lucky, it's just that I know when I first heard of someone proposing that idea (on here or somewhere) I called both my credit cards and they said they always charge a transaction fee for a cash withdrawal regardless of the balance. They did say you could avoid interest charges, but not the transaction fee (which can be quite high on credit cards for cash advances). They also said your withdrawal limit would not change even if you had a credit balance, but most people probably don't have problems with the limit on that. I think that idea is card-specific and so someone should check carefully with their cards before doing that to make sure there would be no transaction fee (I'm not talking about the couple dollar ATM-type fee, but a fee of about five pct of the amount).

I used my ATM-only card in a variety of bank ATMs (at least three different banks) while in France recently and had no problem at all.

platzman

If you are thinking of going back to "good old-fashioned traveler's checks", let me give you something else to think about.
Back in 1997, the last time I brought traveler's checks, I wanted to cash in 500USD worth near the end of the trip.
I went to a Bank Austria branch in Vienna where the teller pointed out the facts. The fee for processing the transaction would be 40USD (or 8USD per check), plus the exchange rate at the time was about 7% above the interbank rate. The total loss would amount to 75 dollars!
I thanked him, put away the traveler's checks and used the ATM outside the bank for no fee.
Please, leave home without them.

clevelandbrown

My ATM card expired and the new one they sent me was a mastercard check and cash card (a debit card). I called and said I was concerned about having a debit card, since all I need is ATM access. They cancelled the mastercard check and cash card and sent me a maestro check and cash card. I called again and said I really don't want the debit card feature. They explained that all ATM cards are debit cards; the difference is that the mastercard check and cash card can be used as a charge card with only a signature; the maestro check and cash card requires use of my PIN, which apparently limits the number of places which can take it. It does have the cirrus sign on it and they assured me that it will work in ATMs world wide. This is USAA FSB, and their advice to me has always been accurate, and they have a lot of experience with international dealings. Now I just have to convert the PIN they gave me to one I can remember. Since I don't write down the PIN, it has to be one I can reconstruct from memory. For example, the months of my and my wife's births.

ira

Hi,

I had both of my ATM/debit cards changed to ATM only.

They require a PIN and cannot be used as charge cards.

This is safer than having a card that can be used to debit your bank account without a signature.

A US credit card allows for no more than a $50 liability in case of fraud, and then only if it is your fault.

djkbooks

Several years ago, when our bank issued debit cards in lieu of ATM cards, I went to the bank and requested an ATM only card.

I love the debit card for daily life, but leave it home when traveling and take the ATM only card and a credit card.