Banks Looking to Limit Debit Card Purchases to $50-$100

[KOPBET]

I feel your pain.

Maybe you should have gone into banking. CEO maybe?

That's me.

Chief Everything Officer.

 

[HMFIC]

No work at half pay. I wish I could get a deal like that.

That's nothing... the wife's aunt retired from the state (DOJ) and ended up leaving at the earliest point she could have because she actually makes more in retired pension than she did while on the job.

 

[jdagreek]

I feel your pain.

Maybe you should have gone into banking. CEO maybe?

Very good answer. I am always amazed at people who choose a career path then sit back and make a big fuss over the pay and benefits. Surely, they realized what the pay and benefits were when they made the career path decision. I have never worked for anyone that kept my pay and benefits a secret from me

I admire most public servants. I spent a few years in the public sector. However, I went in with my eyes wide open. It wasn't a money/benefits decision, it was just what I wanted to do at the time.

 

[SoonerBorn]

Horsesqueeze....

 

[vvvvvvv]

an excellent idea and long pass needed. but limits should be slightly higher... say $500.

currently any debit card has a gaping hole exposure wise.
if someone rips off your credit card and runs up say $5k ... like what was done to me last year.

what happened was my credit card company called me and asked about the $2k charge out of London? I reply not me... didn't charge anything in London. ... credit card company immediately refunded all the fraudulent charges against my account totally up $5k and changed my credit card numbers.

then credit card company immediately attempt to reeled back all charges from merchants. ALL charges not reversible are absorbed by the credit card company as a cost of doing business. this policy also entices folks to not be scared of using credit cards for any type transaction.

from what I could tell, someone got my credit card numbers electronically somewhere. probably during one of those times Sam's CC users numbers got hijacked.

had that happened to a Debit Card ... you are **** of out luck.... YOU absorb ALL of the loss. your bank is not responsible for theft of your legit information.

this is why setting a hard limit on Debit Card is an excellent idea that past needed!

If your bank takes that stance on your debit card, you should fight your bank. VISA and MasterCard both require *most* banks to absorb the cost of any fraudulent use of debit cards they process.

 

[KOPBET]

had that happened to a Debit Card ... you are **** of out luck.... YOU absorb ALL of the loss.

100% false.

 

[webmogul]

What do Firefighters profit from? All I ever got was a paycheck every two weeks.

We had to fight for every pay raise we got. It's worse now being retired. I draw 1/2 of what I used to get paid and there are NO pay raises or cost of living increases.

when I start drawing from my IRA there won't be any raises or cost of living allowances either. But then, I not having someone else fund my retirement for me either.

 

[Hobbes]

If your bank takes that stance on your debit card, you should fight your bank. VISA and MasterCard both require *most* banks to absorb the cost of any fraudulent use of debit cards they process.

100% false.

Not so fast hopalongs.

http://www.kiplinger.com/columns/fitness/archive/2001/ff20010808.htm



Bottom line is:

The bank isn't forcing anyone to use their debit cards.
You don't like the rules, don't play the game.

 

[vvvvvvv]

Not so fast hopalongs.

http://www.kiplinger.com/columns/fitness/archive/2001/ff20010808.htm



Bottom line is:

The bank isn't forcing anyone to use their debit cards.
You don't like the rules, don't play the game.

That's the federal law, which is not what I was referring to. I was referring to the policies of VISA and MasterCard to offer debit card services to banks.

 

[338Shooter]

My bank covers my debit card. I'd tell the to F off if they didn't.