dangers with a checking acct debit card.

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March 26th, 2021 at 2:36:32 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18204
Quote: SOOPOO


LOL. I receive an alert when my wife charges something LESS than $200!


The progress in alerts is amazing. In 2008 I had to sign up for alerts. I rented a Ryder truck to move cross country and it took a day to get the alert. Yesterday I bought $2000 of gift cards for THD to buy paint and supplies. We buy the gift cards here as it gets you free gas. Anyhow the alert came before I walked away from the cash register!
The President is a fink.
March 26th, 2021 at 2:41:25 PM permalink
DRich
Member since: Oct 24, 2012
Threads: 51
Posts: 4961
Quote: Pacomartin

A woman ordered a cup of coffee for $5.70 and was mistakenly billed $5705.70 (obviously input twice).

Is anyone wary about using a checking account debit card?


I use a credit card for almost everything. I only use a debit card at my bank to withdraw cash.
At my age a Life In Prison sentence is not much of a detrrent.
March 26th, 2021 at 2:43:31 PM permalink
DRich
Member since: Oct 24, 2012
Threads: 51
Posts: 4961
Quote: AZDuffman
The progress in alerts is amazing. In 2008 I had to sign up for alerts. I rented a Ryder truck to move cross country and it took a day to get the alert. Yesterday I bought $2000 of gift cards for THD to buy paint and supplies. We buy the gift cards here as it gets you free gas. Anyhow the alert came before I walked away from the cash register!


I mainly use my Amex and I get an alert for every single transaction. If I buy an iced Tea at McDonalds I get an alert for $1.08
At my age a Life In Prison sentence is not much of a detrrent.
March 26th, 2021 at 3:16:26 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18204
Quote: DRich
I mainly use my Amex and I get an alert for every single transaction. If I buy an iced Tea at McDonalds I get an alert for $1.08


That alert actually gave me the chance to flag it. Never had that before.
The President is a fink.
March 27th, 2021 at 11:46:35 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: AZDuffman
I NEVER use a debit card. For just this kind of reason.

You must be horrified at the thought of a cashless society.
March 28th, 2021 at 4:40:43 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18204
Quote: Pacomartin
You must be horrified at the thought of a cashless society.


I am absolutely horrified at such an idea. Even faster of a path to being serfs to the government than government running healthcare.
The President is a fink.
March 28th, 2021 at 12:28:50 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: AZDuffman
I am absolutely horrified at such an idea. Even faster of a path to being serfs to the government than government running healthcare.


Scandinavia is still leading the way in Europe towards a cashless society. China will try and spread it's digital currency around the third world where local currencies are in trouble (Turkey is one of the most obvious place in Europe). Over 80% of US banknotes by value are in the $100 denomination.

Banknotes per person (Scandinavian crown shown at current exchange rate in Euros)
€527 Sweden
€666 Norway
€1565 Denmark
$1000 USA (excluding $100 bills)
€2200 Euro Area (excluding €100,€200,and €500 bills)

€1=9.52 Turkish lira today
€1=3.24 Turkish lira five years ago
March 28th, 2021 at 12:37:30 PM permalink
terapined
Member since: Aug 6, 2014
Threads: 73
Posts: 11791
Quote: Pacomartin
Over 80% of US banknotes by value are in the $100 denomination.


Thats pretty much what I carry with me
3 100 dollar bills for emergency with a few smaller bills
I dont even use a wallet anymore
I carry 6 cards and a few bills held together with a strong rubber band. Light
The cards are, drivers lisc, health ins card, Nat Parks lifetime card, main credit card, back up credit card and debit card.
Sometimes we live no particular way but our own - Grateful Dead "Eyes of the World"
March 28th, 2021 at 4:10:29 PM permalink
Gandler
Member since: Aug 15, 2019
Threads: 27
Posts: 4256
There seems to be ways around this (without using a CC). The obvious is setting a limit for transactions (which most major banks allow) that would be approved (if a single transaction is over the limit it would be denied).
The other is having multiple checking accounts where only one has a debit card (which you keep just enough funds to cover random expenses that you would desire to use your card for).

Texts alerts (or email alerts) as mentioned is another modern safeguard that can show you in real time each charge (of course if you are constantly using your debit card at many places in one day you may be prone to just ignore or not read them as you probably get dozens each day). Of course using cash for random small transactions is another safeguard (probably the safest of all options, even over checks and CC).
March 28th, 2021 at 4:57:31 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: odiousgambit
those are impressive heating bills , you have a big house? was there a cold snap in May I forgot about?

It is 56' by 73' with a full basement and some sleeping towers. Built in 1928.

05/26/20 LEHIGH FUELS,$721.50 500 gallons (200 days)
12/12/20 LEHIGH FUELS,$561.70 300 gallons (31 days)
01/12/21 LEHIGH FUELS,$612.70 300 gallons (34 days)
02/15/21 LEHIGH FUELS,$717.70 300 gallons (35 days)
03/22/21 LEHIGH FUELS,$711.70 300 gallons

The fuel was not burned up in May, but primarily October, November, and first 12 days of December
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