[throwback]

Very true. And most retailers paid and still do pay for check verification services to try to prevent fraud. That's one advantage to them of using debit cards. Debit cards provide immediate verification of the customers ability to pay and in many cases provide immediate movement of funds to the merchant. They know they will get the money, and they get it fast. It's a service to the merchant just as it is to the consumer. I don't really get all the whining about banks. I've never been whacked for a fee or a late charge. If you shop for services and do due diligence paying on time, you avoid most if not all of it. If you're sloppy managing your money, you have problems. I'm sure banks exploit it, but whose fault is it really? It's like the mortgage mess; whose fault is it that people borrowed %100 of the price with an ARM?

[csmusaret]

Debit cards provide immediate verification of the customers ability to pay and in many cases provide immediate movement of funds to the merchant. They know they will get the money, and they get it fast.

That is exactly what happens when you pay with a paper check at Walmart. If you don’t have enough money in that account the check will not be approved. If the check is approved, that money comes out of your account immediately.