Originally Posted by Darkeyes

Sure, many WILL do it-
But debit cards are, as a rule, insecure and unprotected.

I'm a Business major, and I once had a whole lecture just on banking security- that was one of the topics:
The lecturer declared it to be 'inexcusable' for anyone that had taken that lecture to use debit cards over credit cards unless they had to.

All the books on the subject I've read, as well as bank literature I've got a hold of from the banks I've been by agree to that.

Here's a statement on the topic, with the supporting note on the matter underlined:


In other words- you're likely to get the money back... if you stress at it hard enough.
With debit cards, you're required to prove the loss of money.

As Infinitys Echo said, the banks typically try to get out of it, and you have to go through a lot to get it back.

In the end, it's just another element of how good your bank is.

It's been a while since I covered the subject, so this is all I can really say about it.

It's my opinion that using it as debit is just as safe as using it as credit due to the fact that MANY businesses DON'T/WON'T ask for ID when using a credit card (and they're suppose to), and many of those that do, only do a cursory glance. Instead of putting your signature, put the words "SEE ID" or "ASK FOR ID" in that spot (yes, you can do that) and begin using the card at various places. I've done that with one of my credit cards. Most times, I'm not asked for ID, even when the back of the card says "SEE ID". In most of those cases it's because they never bother to look at the back where my signature is, which is suppose to be one of the things they're suppose to check for, that the signatures basically match on the card and another picture ID. In others, it's simply that they ignored the "SEE ID" instead of seeing a signature there.

The only real difference to me is that as credit, it may take up to 3 days to clear, while debit will clear right then and there. However, it IS safer in the respect that you can dispute a charge when used as credit, and you can't do that with debit. With debit, you have to rely on your banks code of ethics and willingness to stand up to their claim of reimbursement for unauthorized usage or theft of your card.

That's about it; That and credit cards needing to be checked more thoroughly, which, as you said, they don't really do.

Most banks do online banking, you still have problems. And if your bank doesn't kill your debit card as soon as it maxes out, you can get some serious overcharges and overdraft fees for each charge- which as stated before, the bank choose if they want to be liable for or not.

Funniest thing is, electronic signatures? The pads that you write on? They don't even get that.
My friends always scratch in random stuff, including "I'm totally not the person this card belongs to" (like when I'm paying) and nothing happens- because noone gets it. It's just a formality.

It's all ridiculous.

My mother just had me open my first bank account, and I put all of my savings cash into the bank. I feel as though I've lost all my money because I kept it safe in my room, and now when I go to get money, I remember that I don't have it available to me because I can't get to the bank. Not as bad as the stuff you're dealing with, but it's been really bugging me. ><

I get that~
On the other hand, there is something really spiffy about swiping- or in some cases simply holding up a card and being done with paying..

Oh, as a note: If you're looking simply keeping your money in savings, Credit Unions typically offer much higher interest gains. You may want to look into them, if you have enough funds to care ;P

I use Commonwealth Bank in Australia. I don't know if they are "good" compared to others since I've only ever been with them. I have never had a problem with them though.

Once when I called them about something the guy I was talking to ask me if I would like to open a saver account which earns interest on money I save. Does not cost me anything, earns me interest and makes it easy to save. :)

On the topic of credit cards. Here it is not electronic signature. We sign the receipt and the shopkeeper/etc is supposed to compare it to the one on the back of the card. Though most of the time they don't bother. :|
There is a new thing here now that you can get a pin for your credit card and use that instead of signature for purchases, though I don't know how secure that is because people can steal and remember a pin easier than forging a signature. I am just really careful that I don't lose my card. If I lost it, I would have it canceled right away.

Banks lately are the horror of my life. Citizens Bank just robbed me of 122.00 in overdraft charges on a balance problem they caused. I never had any such problem with th small local bank I used before I moved to the city. They even gave money back that was used when my debit card was stolen. Hopefully I will be moving back to the small town. They already said they still had my old account on record and I could just re-open it since I still had checks with that account number. (no Address makes that possible.) I miss that small local bank. The people there were always so kind and helpful.