"Honey, What the hell did you buy today?"
"Nothing dear, why?"
Posted on 03/12/2015 6:38:04 AM PDT by Shimmer1
This happened to me yesterday. 3/11/15 at Olive Garden.
Did not know that. Thanks for the heads up.
This is why I don’t use debit cards. PERIOD................
You ate at Olive Garden??? Not much better than MacDonalds.
Basically you should never use a debit card. I really don’t like even carrying one, although that’s somewhat of a necessary evil for ATM access.
Find a good credit card and pay it off every month. You have very little protection with a debit card. Eventually everyone’s number gets stolen. It’s much better to have that be a cc than a card linked to your bank account.
"Honey, What the hell did you buy today?"
"Nothing dear, why?"
I have never used a debit card........... And I have only eaten at
Olive Garden once. Once was enough.
I use my “debit card” ONLY for ATM access. Once, some years ago, I accidentally used it at a gas pump (same colors as my other credit card), but never again.
I guess I am just “old school” but don’t like the whole idea of debit cards.
My guess here is that the balance shows only if it is insufficient to cover the purchase, not always. This way the customer has the option to use that balance and cover the difference in some other manner (a different card or cash). I’ve seen maybe a couple dozen Olive Garden tickets run on my debit card, and never seen a line item for my debit card balance.
Keep a savings account linked to your checking account and put money in to it when needed. Keep the balance relatively low. That’s if you HAVE to use a debit card. It is better to have a credit card with the same bank so you can transfer money from your checking account to the credit card. That’s just s press of a button.
I did some of this months ago after someone used my debit card to buy several online gift cards to Nordstroms. My bank caught the scammers immediately but it was a pain. I had to get a new debit card plus they jacked 5 figures out of that checking account.
My advice is to NEVER use a debit card for online purchases. NEVER. Always use a credit card.
I had a similar incident with a Debit Card.
With my bank’s help, they issued me a Credit Card - and informed me never to use a Debit Card for online purchases.
Everybody needs to be aware of their bank accounts. We’re living in a new world.
You can set up a maximum transaction and/or maximum daily transaction limit for both PIN and non-PIN usage (because yes, that is your bank balance, even though the bank will usually credit duly reported fraud back to you as is the policy for VISA or MASTERCARD branded cards, it can be a complex hassle in the meantime).
You can set a cap on non PIN transactions (treating it like a credit card) by contacting the issuing bank. I wish I had 5 dollar figures right now to worry about, count your blessings, but no way could anyone jack more than a few hundred from mine before I could get it corrected.
My bank tells me we have the same protection with the debit card as with a credit card. I have my debit card set to NOT have overdraft protection, so it won't dip into any linked savings account if someone tries to exceed the balance in the checking account.
I still use the credit card for restaurants and travel though since it gives double points for those things.
Restaurant transactions are high on the list of small-scale ID thefts.
This goes back a long time, so thing may have changed.
They used to be able to do an inquiry (the merchant’s bank) to see if there is enough money to do the transaction. Then they will place a “hold” or “grab” that amount. You see this happen often when using it for gas or for a hotel.
I am sure that this number has ALWAYS been transmitted back to the merchant bank. Credit cards always do this when beginning a transaction. Debit cards use the Visa network to run their transactions (or MC, whatever the little sign on the front of the card says.)
The difference is that this number USUALLY gets stopped at the merchants bank. Usually, it is part of an algorithim for use in the “go/no go” decisions.
I ran my own business for the past thirteen years and I get debit card payments every day. I never see the customer’s balance. Never.
So, I think who ever set up the in-store payment system at that place missed a flag in the set up process.
Long story short: The available “credit” has always been exchanged between the merchant bank and your bank. Sending it along to the terminal at the end is a mistake of the on site payment system.
I can attest that for at least a dozen years, I have never had access to the customer’s available balance or credit line, nor have I ever seen a place where I could turn on such a flag in any of my online set up routines.
That is old information.
Debit cards are covered under the banks VISA/MC agreement. You have the same protection under that agreement as you do with a credit card.
The issue is that you probably have more than one credit card so you can afford to wait for the refunds. With a debit card, usually your refund takes a week or so and you are out the cash.
It is probably what you meant, but I just wanted to clarify that in most states you are equally protected. It is always best to verify that with your bank.
And you do, as far as ultimate credit-back policy is concerned. However with credit card you have option to “not pay that bill” while a transaction is up in the air. With debit it’s gone till then. So do be careful on your max transaction limits.
Wise folk know NEVER USE DEBIT CARDS:
1. When you have to give the card to someone that you are not watching closely and carefully for every second they have it (like a waitperson at a restaurant);
2. Online.
3. And any other place where someone can get your number/and CC;
REMEMBER: On a debit card, all disputes are on your nickel! The bad guys have your money UNTIL you can prove it’s not theirs; on a credit card, you are protected, and they have to prove the charge is legit, and you are not out the money.
I don’t think they know your balance, they just know that there are insufficient funds to pay the bill. The same is true with credit cards. Businesses do not know the amount of credit remaining on your account, they just know that there is insufficient credit. With that said, I only use a debt card at a well known ATM machine. It is a credit union ATM at my workplace. I use that once a month for what I call walking around money. The rest of time I use a credit card. I get alerts on my phone anytime it is used and it is near instantaneous. I placed an Internet order last night. I received both a text message and email from the credit card company before I received the confirmation of the purchase from the business. So if my card is used I can take immediate action. The credit card also offers free credit reports and fraud prevention.
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