Posted on 03/28/2006 10:02:22 AM PST by Abathar
PALMDALE, Calif. -- This fast food bill was a real whopper.
A man was charged more than $4,300 after placing his food order at a Burger King in California last week.
The four burgers came to $4.33. The cashier entered the charge on George Beane's debit card, then mistakenly punched in the numbers again without erasing the original ones.
That brought the bill to $4,334.33.
The electronic charge drained a checking account and left Beane and his wife wondering how they'd pay their mortgage.
But everything worked out. Burger King didn't charge the Beanes for their meal and the couple later got their money back.
"Something is odd here. . . most debit cards have a daily limit, typically $1000.00."
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When I recently purchased a computer the clerk had to call my bank because my card wouldn't go through. PANIC!
The bank was just protecting me against large (possibly illegal) withdraws from my account.
This story has 'urban legend' written all over it.
That brought the bill to $4,334.33.
The electronic charge drained a checking account and left Beane and his wife wondering how they'd pay their mortgage.
That just means that George was an idiot that didn't check his receipt.
Think twice before you hand your plastic to the end result of the NEA's "Reverse Education" project.
I use a pre-paid debit card for all online and foreign purchases. It makes me feel easier about giving out a number. The most I can lose is the amount funded to the card.
It has little to do with discipline. I have two credit cards, and three checking accounts, and never pay fees. Once the debit card was established, I just give it enough money to buy whatever I want, and by using direct deposit (from one of my business accts), pay no fees...
VISA makes about 2% on each transaction, and they make a fortune giving them to anyone and everyone whether they are a risk or not. I don't like supporting them when they have business practices like that if I can help it. My bank card allows me to use only the money I have, I use credit only if I have no choice.
I use mine all the time, it helps me track my money. Almost always, my purchases are made with either something totally automatic (like a gas pump's internal computer), or with something requiring my specific approval, such as the little terminal at the grocery counter. You have very little chance of human error, and in the few cases where it's possible, I check very carefully.
Since I have to enter the figures into my checkbook register (I know, that's optional for some folks!) I always remember to enter them in my semimonthly budget spread sheet. I'm not writing checks for things at the grocery store, then waiting for them to clear, when I check my balance online. The money's debited almost immediately, and I only have to track the checks that need to be sent off for utilities, rent, and credit union payments.
At the point in time where one of my two credit cards is completely paid off, I might just switch to using one of them, and paying it off in full each month, but at this point, if I used them for everyday purchases, I'd just be paying interest on those sums.
"but never a debit card. I don't see the sense of them. And I don't anticipate ever having one. What advantages are there? I see none."
You don't have to carry a checkbook or cash and you aren't ringing up a charge debt.
ROFL!
Where've you been all day?
I've been semi-lurking.
I have lost of paperwork to finish up.
Don't be a stranger.
"Advantage: A debit card does not allow you to spend money that you do not have. That is a very good thing for some people."
Cash does the same thing......
lost=alot
Debit cards are for people who don't care... :^)
Lol! You're sharp today, Millee!
We use a credit card and pay it off every month, and have the additional rule that you never put something on a credit card that you couldn't pay cash for in that month.
I know where my debit card has been ( credit card for that matter also) but can you say the same thing about cash?
Ever been somewhere and find yourself only holding a fifty and looking at a sign that says nothing over a 20?
The key here that I think is most relevent is choice. People have a choice which way they want to pay for things.
This choice also dispells the anti god folks that will claim rights violation with "in God we trust"....Choice is always best my friend.
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