ATM Alert-Please Read!
 

WATCH THOSE DEBIT CARDS! I use to have the kind with the Visa logo and when my wallet was stollen, the thieves went to town! It took me so long and such a hassle to sort through it all. The money is immediately withdrawn from your account and you could be wiped out before you even know your card is gone. You can find yourself with a "0" balance when you think you have money in your account. Now the ATM card I have requires a 4 digit PIN so if lost or stollen, the thieves can't use it since they don't know the PIN. If it has the Visa/Mastercard logo, it only takes a swipe...no PIN required.Don't get the Debit cards with these logos! Don't learn the hard way like I did. Mary

So sorry for you Mary. Hopefully, you were able to recoup all your money. I have the type with the logo and you're right, it only takes a swipe. No one ever ask to see my ID, especially where I use it most often...buying gasoline! Sorry for your incident!

So Sad to hear. I'm calling Bank of America Monday to look into changing my ATM card! Thanks.

Good advice - and somthing that people may not think about when preparing for their trip.

Unfortunately, this has become way to common and there should be some legislation against these nasy Debit cards. I had mine switched to a straight ATM about 6 months ago after one of those 20/20 type TV shows and I feel so much safer! I still use it to purchase many items and don't feel like it's much different than my old debit card....but now my purchases require a PIN number! Merchants are suppose to check for other ID but many don't. I suppose with all the fraudulant ID's made, this wouldn't really stop a thief anyway. The original ATM was only to be used to withdraw money out of an ATM machine but look where it's gone. It sure could ruin a vacation! Sorry Mary but thanks for warning so many unsuspecting travelers.

Get copies of the signatures!<BR><BR>I think rules on debit cards vary by state, but I would suggest you get copies of the charge slips. If the signatures do not even closely match your own, you could argue that the merchants did not use due care to insure the card was being used by the named cardholder. Merchants should use diligence in accepting the card, and looking at the signature is part of it. BTW, in New York state the merchant is NOT required to obtain additional information in most credit card sales.<BR><BR>I have a debit card w/ Visa logo, and know that the amount I'm responsible for ($500 vs $50) over a regular credit card stands, but enjoy the convenience of being to use it when a merchant accepts Visa, but not eft/debit.

While travelling, it's probably best to leave the debit card at home. You simply to not have the same rights of recovery as you do with a credit card. ANY establishment can use your number and expiration date if you've used it there WITHOUT the card. I've read many horror stories. A particularly interesting one was where a clerk in a tee-shirt shop was running card numbers from the previous day's transactions for the current day's cash sales and pocketing the cash. This would be much easier to resolve when your statement comes with a credit card. Everyone with a debit card should obtain a copy of their bank's "agreement" phamplet and study it.

H-E-L-L-O....that's just it, you don't sign for your purchases like you do with a credit card!! It's a Swipe and go basically. I too was ripped off...my losses were minor compared to others. $200+ at Target for video games. My bank manager had the nerve to tell me "Oh, you're safe with a Debit card because they request I.D." I told her not to insult my intelligence...obviously when the thief purchased $200+ from Target no one asked for any second I.D. <BR>Luckily, I was in my own home city and realized it the same day before anymore purchases could be made. This has to be some type of money making thing for banks...this is all I can conclude.<BR>GET RID OF YOUR DEBIT CARD IF YOU HAVEN'T ALREADY. Carolyn

Mary, so sorry for what happened to you. I refuse to use a debit card with no PIN. I cut them up when they arrive from my bank.<BR><BR>On my credit cards, I write in BIG letters just above my signature ' "Ask for photo ID" and then highlight it with a colored marker. Do clerks ask me for additional ID - maybe 1 out of 10 times! So much for taking extra precautions. <BR><BR>I asked one clerk why he hadn't asked me for the photo ID, and he said ..... 'your signature matched the signature on the card". I told him that if I was it had been a stolen card, the signature would have looked even better.

My ATM came with the Visa logo though I never requested it this way, why is this? I'm sure it MUST have something to do with the bank making money! I'm glad to hear this alert. It's nice to be able to share this information to help others avoid the same misfortune.

Of COURSE it has to do with the bank making money. If you use your card as a credit card, as well as an ATM card, they get transaction fees from the merchants.

Could someone explain how the banks make more money if the card has the logo than without it. I changed mine to NOT have the logo but I still use it the same as I did before when I make purchases etc. Since the money comes out automatically (with or without the logo) how does the bank make more money with the logo?? Thanks for educating me. Anna

Radio Host Clark Howard has warned people for years to get rid of Visa/Mastercard debit cards. (clarkhoward.com) gives some horror stories....He calls them "fake credit" cards. A co-worker got burned on this and had to file a seperate dispute for every single purchase....something like 32 purchases (all were under $20, used at such places as Blockbuster, Walgreens, etc.)I think he eventually got all his money replaced (?)but it was a huge hassle for him.

There is a new scam involving ATM cards (not VISA) here in Alberta. Apparently, through the video cameras at various gas stations, the crooked staff have the camera trained on the ATM machine. From there, they are able to dicipher the PIN #. And they are able to now recreate the ATM card. Apparently a lot of people have been bilked out of tons of money. The staff only stay at a job for a few days and then move on.<BR><BR>The recommendation is to always cover your hand when entering your PIN #.<BR><BR>A couple of years ago, I had about $1500 disappear from my Royal Bank account through ATM withdrawals. I took issue with it with the bank as I knew I hadn't made the withdrawals. To no avail. They said that their cards are infallible. Guess they have been proven wrong now. <BR><BR>So, do be careful even with your ATM's.

Here is the website that spells out the dangers of the Visa/Mastercard Debit cards:<BR>http://clarkhoward.com/shownotes/2001/07/30.html

Anna, as a small business merchant, I can tell you that the bank charges merchants a percentage for every credit card transaction (anywhere from 1.5 to 4 percent, depending on volume). However, if a pin pad is used, instead of the percentage there is only a transaction fee (like 50 cents). So you can see why the banks like the no-pin-pad situation. Up til now, I haven't had enough debit card volume to make buying the pin pad cost effective - they charge hundreds of dollars for these ten-cent gadgets. I'm starting to have second thoughts - I didn't know the customer had a higher risk. And Nina, I'm one of the few merchants who actually LOOK at the signature. If there's no signature, we require a photo ID. You wouldn't believe how surprised and even affronted people get, but we do it anyway. I love the new cards with photos on them. Thanks for the heads up.

Thanks Joan for such a good explanation. Makes me so angry at the banks...grrrrrr...<BR>to: r-travels ([email protected]<BR>If you want the convenience of a Visa card (like we all do) why don't you just get a "real" Visa card so you can review the charges BEFORE you pay your bill?<BR>Did anyone else see that show (maybe 60 minutes or Dateline?) where the person lost thousands of $$ and hadn't received any compensation?? Mary, have you received any of your losses back?

I am paranoid and suspicious about money, so I have always shielded the keypad when I input my PIN, and I even try not to let the people in line see the name and # on my card when it's in my hand!

I have heard that if your credit card gets stolen, you are responsible for the first $50 that was charged before you reported it stolen. With a debit card, it's $500. So when my bank sent me an ATM card with a Visa logo, I called them and said I didn't want a debit card, just an ATM card. So they sent me one without a logo. HOWEVER...I was out shopping one day and realized when I got to the front of the line that I didn't have my credit card on me, just my ATM card. Surprisingly, it still worked as a debit card.

Yes, they work as a debit card (P.O.S.-point of sale)as well but with the protection of knowing a PIN is required. With the logo debit card, not only can you make a purchase with just a swipe, you can get cash back as well. The thieves will have merchandise as well as spending cash!