Quote:
Originally Posted by taustin
Any debit card that has a Visa or MasterCard logo on it can be processed as a credit card - no PIN (unless there's some very weird condition to the merchant's account that says otherwise, or your bank is insane). Merchants prefer not to, because the fees are higher, and they might not get their money as quickly, but the banks lover it because the fees are higher and the merchant might not get their money as quickly. For the consumer, it isn't much different (as long as banks continue to offer the same protections as for credit cards, even though they aren't forced to be law).
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It is much different for consumers. If your debit card or number is stolen and used the money is gone from your account until the bank replaces it by which time your mortgage payment and other checks can bounce. If someone steals my credit card info the only thing I lose is the time to get the card replaced.