Debit-another reason not to use

[shootingstar]

For me.  My bank charges $25.00/hr. for research on debits that I question.  I realize some people love debit. 

But credit card charges has helped me stay disciplined within budget.  I pay bills on time.

Rather interesting how all sorts of banks charges mount.

[Longjohn ★]

How many debits do you question? I have never questioned a debit. Sometimes I have to think about it for awhile because some places show something other than their name for the charge.

[shootingstar]

1 hour ago, Longjohn said:

How many debits do you question? I have never questioned a debit. Sometimes I have to think about it for awhile because some places show something other than their name for the charge.

I don't use debit. 

[Longjohn ★]

1 hour ago, shootingstar said:

For me.  My bank charges $25.00/hr. for research on debits that I question. 

Then who's debits are you questioning?

[Tizeye]

Sounds like you need a different bank.

[shootingstar]

28 minutes ago, Longjohn said:

Then who's debits are you questioning?

I question my own self-discipline.  I have no interest to test it at this point in my life. My memory will not always with me years from now. Imagine someone with dementia slapping on the debit card use.

 

[sheep_herder ★]

We've never had a debit card, and life has been good using credit cards, checks, and cash. We tried for a while to go without credit cards, but found it difficult when traveling, and then along came the internet with potential for purchasing items.

[Wilbur ★]

I use 99.9% debit unless the purchase is over 500.  That is a limit I placed on the card per day just for some protection against theft.  Purchases over that get a credit card cuz I like my cash back card.  Check my bank statement once a month and pay the credit cards off.  I have never had a debit problem as far as fraud goes.  

[Prophet Zacharia]

I don’t see the point of debit cards. If I have the choice to steadily withdraw from my bank account, or allow that money to accrue interest for the month until I pay the bill while earning cash back or airline miles, the credit card seems the better tool for purchases.

[Tizeye]

While technically I have a debit card, it originated as an ATM card. Then they had to go associate it with Visa and make it a debit card. Still only use it to pull cash out of the ATM 99.9% of time. Only true debit card I have is the Target debit card to get the 5% discount. Don't have any cards, debit or credit, linked to Apple Pay.

[Longjohn ★]

1 hour ago, Prophet Zacharia said:

I don’t see the point of debit cards. If I have the choice to steadily withdraw from my bank account, or allow that money to accrue interest for the month until I pay the bill while earning cash back or airline miles, the credit card seems the better tool for purchases.

With the debit card there is no bill to pay every month.

[shootingstar]

25 minutes ago, Longjohn said:

With the debit card there is no bill to pay every month.

It forces me to look at what I've accumulated to pay off each month. 

[pedalphile]

8 hours ago, shootingstar said:

I question my own self-discipline.  I have no interest to test it at this point in my life. My memory will not always with me years from now. Imagine someone with dementia slapping on the debit card use.

 

So, in the UK a debit card is just that, it debits an acoount you have some money in. It cannot go overdrawn, if you try to spend funds that are not in the account, it doesn't process, so I fail to see any danger of over drawing that you seem to fear in this debit account you do not have.

[shootingstar]

I don't think it's overdrawing...it's just spending money more quickly by me in a more unthinking way.

[pedalphile]

Just now, shootingstar said:

I don't think it's overdrawing...it's just spending money more quickly by me in a more unthinking way.

So, you don't have a credit card either.

[bikeman564™]

10 hours ago, Longjohn said:

How many debits do you question? I have never questioned a debit. Sometimes I have to think about it for awhile because some places show something other than their name for the charge.

This. I've never questioned a debit. Sometimes I buy on ebay w/ paypal which is hooked up to my debit card. Once in awhile I'll see a debit and be like , then oh yeah 

[ChrisL]

We switched banks a few years ago due to numerous fees and bank through a credit union now.  Whatever works for you and your banking needs.  I'm a debit card user and prefer it over cash but my spending habits are pretty minimal.

[Razors Edge ★]

12 hours ago, shootingstar said:

For me.  My bank charges $25.00/hr. for research on debits that I question.  I realize some people love debit. 

But credit card charges has helped me stay disciplined within budget.  I pay bills on time.

Rather interesting how all sorts of banks charges mount.

This actually seems like more of a reason to change banks than to not use a debit card. 

I NEVER use a debit card, but if my bank told me they were going to charge me for their work????? Adios!  Too many bank choices out there.

Tom

[Rattlecan ★]

10 hours ago, Wilbur said:

 I have never had a debit problem as far as fraud goes

Twice, with two different banks, I have had my debit card compromised. In both cases, the bank flagged the unusual activity and shut down the accounts. A visit to the bank to convince them I was not responsible for the charges incurred, new card issued, and unauthorized debits returned to my accounts.

 That was 10 or 12 years ago, and no problems since. 

[JerrySTL ★]

Avoid using debit cards at gas station pumps and a few other places. Sometimes gas stations immediately cause a charge of $100 before you start pumping gas the fix things after the actual amount is pumped. If you are running close on a debit card, that could cause you account to be overdrawn.

Another difference between credit and debit cards is what happens when there is fraud. Both have similar, but not the same, protections. Both can take a few days to clear up. If your debit account is emptied, then any automatic withdrawals, such as for utility bills, won't be processed. That can be a mess to clear up.

[MickinMD ★]

Bank? Like about 10,000,000 Americans in the past decade, I switched to a federally insured credit union. Credit unions still treat you like you are doing them the favor by letting them hold on to your money. I switched from M&T Bank to SECU of MD Credit Union in 2011 when I got tired of M&T nickel-and-diming me for every service and the straw that broke the camel's back was charging me for a book of checks - twice as much as online shops charged - for the first time in the 40+ years I was their customer or the customer of a bank they acquired.

I pay NO fees for debit card swipes or for questioning them. My debit card is a Visa Debit Card that has pin priority and works overseas (1% transaction fee) if you need that function. I pay NO fees at over 70,000 ATMs nationwide and over 20,000 overseas, including those at every Costco, Target, and most 7-11's. I pay NO fees for check overdrafts if savings can cover it.  5-yr CD's pay 3% interest and there's only a 90 day interest penalty if you redeem early, so it pays to get one even if you intend to keep it just 6 months (1.5% net annual rate after paying the penalty).  SECU is federally insured just as much as banks are and has lots of branches throughout the state with better hours than M&T.  SECU has all the online bells & whistles: bill pay, transfers, etc. with no fees. I pay NO fees for anything at SECU.

I used to swipe my credit union debit card at Aldi, which didn't take credit cards until the last couple of years, but now I always dip or swipe a credit card because I get 2% to 5% cash-back.

When I considered switching from M&T, my sister recommended that I choose a large credit union like SECU (State Employees Credit Union) so I'd always be close to a branch office.  I was surprised that virtually anyone can join - I've never been a state employee. That turns out to be true for most credit unions. You even qualify to join SECU if a relative is a member, among other qualifiers.