Limiting Debit Card Transactions? *sigh*

[yotetrapper]

If my bank does that I will just close my checking account.

 

[gmendoza]

I usualy use my debit but I choose credit option instead.That way there isnt a limit on usage.Just a loophole to think about.

 

[The Chicken Lady]

Quote:
Me too! I only use it as debit at the (very few) stores that require it.

 

[greyhorsewoman]

In most (perhaps not every) cases, your merchant has to pay higher fees to process your card as a credit card rather than a debit card. So I understand why the banks want you to opt for using your card as a credit rather than debit. However, you WILL pay in the long run, because the merchant that you are paying will have to absorb those additional costs and will pass them on to you eventually.

 

[halo]

It might not be a bad idea to just go back to using cash. Rather than keep your money in a bank and use your debit card, just keep cash and use it. Then the banks dont have to worry about those pesky little fees.

 

[EweSheep]

If we all went back to using cash, those banks WILL find a way like charging bigger fees for cash withdrawals or some little keepers fee to keep your account open.

If and when they do start charging fees on my debit cards, I will be closing the account and find me another bank.

 

[Rozzie]

Can't exactly send cash to your mortgage holder when mortgages are sold by the original lender to non-local businesses.

Can't exactly pay cash for a lot of bills these, days. Plenty of insurance offices won't take cash, either.

 

[HEChicken]

Quote:
When my purse was stolen last week, one thing I was thankful for was that I had less than $5 in cash in it at the time. I was able to cancel all the plastic cards. Any cash that was in it was lost. If I'd been carrying around a lot of cash, the sick feeling I had when I discovered the theft would have been a whole lot worse, and I would have been a lot worse off too.

 

[Camelot Farms]

I hadnt thought about being able to push the 'credit' button option. I just had visions of not having access to MY money with a card that has the Visa logo on it. I do tons of online business that would be a nightmare with a $50 limit. I am feeling a little better now.

 

[debilorrah]

Just tell them to run it as credit. I do that when some place wants to charge a debit card fee.