Re: OT: New banking & credit card rules/regulations

tom ronson wrote:
CLM in ND wrote:

I niavely assumed that if I didn't have the funds,
the bank wouldn't have let me make the transaction.

something similar happened to me, sort of .... someone bounced a check
on an account I use for gas and butts and whatnot around town (I got
"skimmed" along the way and setup that account for 'stuff' to protect
my primary account). As I recall the account went negative on a Friday
afternoon. The bank "let me" use my debit card all weekend, paying the
charges but nailing me $39 a pop for the "convenience". Hell, if
they'd blocked the card on the first one I'd of known to look and see
what was going on and I could of either not made many of those
purchases or used a different account for them. the local branch
refunded and fixed the issue but said to be more careful in the
future. I suggested they lock cards down that go negative but they
explained again they were trying to "help me".

I guess the new banking rules are the reason why when I logged onto
the bank a few weeks back they asked for my permission to allow
payments that overdraw my account ... for my "convenience". Of course
I axed all the accounts from that option.

I've never had a debit card and never will. The horrors of their use, (just
one described above), are just too risky. Use a real credit card, pay it in
full at the end of the month, never even think about risking an overdraft,
and if there is a bogus charge of any kind you don't have to pay it, just
dispute it. (Also, if you get a good credit card, you'll probably get some
kind of bonus.) If someone steals your debit card or number, you lose your
money immediately, probably start bouncing checks and have to fight to get
your money back. If someone steals your credit card, you aren't out
anything.

Banks use software to maximize the number of checks that will bounce if
several come in the same day and cause an overdraft. I don't have much
sympathy for people that write bad checks, but still, that's downright
slimy.



.

Relevant Pages

  • Beware Of Debit-Card Skimming Scams When Filling The RV
    ... +++Three steps to take to protect your account data from getting into ... relying on debit rather than credit cards. ... ....When you use a debit card, the money is immediately taken from your ... pull cold cash from your bank account. ...
    (rec.outdoors.rv-travel)
  • Re: GOP takes out another Contract on America
    ... threaten to close the account. ... I screamed at the bank, to no avail of course, and also called my ... overdrawn ATM debit card charges but charge me $33. ...
    (soc.retirement)
  • Re: Stolen CC/Dumps/Bank Transfers/PayPal For sale....
    ... BANK NAME ... BANK ACCOUNT NUMBER 19196075 ... The normal CC will include Card details and current address ONLY. ... credit card number, expiration date and customer name are contained on ...
    (rec.audio.car)
  • Re: They wiped us out
    ... The bank stopped action on our account, ... but Amazon.com uses my card number. ... I guess just a cautionary tale to check your bank account online every ... If you dispute a credit card charge, you do not have to pay the charge, and ...
    (rec.crafts.textiles.quilting)
  • Re: Bad experience alert for Warmoth
    ... Interesting that I've noticed that most companies will not send the charge until an item is shipped. ... Paypal does something similar in that when you transfer money from your bank account it is taken out of the account one day but Paypal won't show it until a day or 2 later. ... The following Monday I cancelled because they still hadn't filled the order and asked them recredit my card. ...
    (alt.guitar)