|
I will not use a debit card.
If I lose my debit card, all money charged to my card will be removed directly from my bank account. While I am not responsible for those charges, and the bank will eventually refund my money, in the mean time, all payments made from that account, will result in a NSF (non-sufficient funds) transaction. This means utility payments, rent, mortgage and any other payments will fail until the bank returns the stolen money to my account. I always insist on receiving an ATM card NOT a debit card.
Not that credit cards are much better. I once had a credit card I canceled. One month after I canceled the card, 13 subscriptions to AOL were charged to my card on the same day. When I called the credit card company to complain about charges made after I had canceled my card, I was told certain charges could still be added to my account after I closed it. After much weeping and gnashing of teeth and temper tantrums, six months later they finally dropped the charges.
If you owe the bank one hundred dollars and can't pay, it's your problem.
If you owe the bank one hundred million dollars and can't pay, it's the bank's problem.
|