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  • mike45

    Marksman
    Rating - 100%
    1   0   0
    Sep 25, 2012
    218
    28
    east central
    I am one myself. So I don't carry a credit or debit card. I use cash for anything under $200. All the rest I write checks.
    I pay bills with checks. When I go to the store and write a check it's like I am trying rob a bank. They want my drivers license current phone # and address. The guy ahead of me used a debit card and walked right out. I have looked at debit cards and they have the same numbers on them and use the same account as a checking account.
    Why in the world are debit cards trusted more than a check? It is almost impossible to hack my cash or my check book. But you hear about credit and debit cards getting hacked all the time. If the money comes from the same account. What is the big deal about a check.
     

    DoggyDaddy

    Grandmaster
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    73   0   1
    Aug 18, 2011
    102,027
    77
    Southside Indy
    I am one myself. So I don't carry a credit or debit card. I use cash for anything under $200. All the rest I write checks.
    I pay bills with checks. When I go to the store and write a check it's like I am trying rob a bank. They want my drivers license current phone # and address. The guy ahead of me used a debit card and walked right out. I have looked at debit cards and they have the same numbers on them and use the same account as a checking account.
    Why in the world are debit cards trusted more than a check? It is almost impossible to hack my cash or my check book. But you hear about credit and debit cards getting hacked all the time. If the money comes from the same account. What is the big deal about a check.
    A check is basically nothing more than an IOU. Your debit/credit card is instant money right to the store. Balances can be checked electronically immediately. Not so with a check. And remind me not to get behind you in the checkout lane. :):
     

    Cameramonkey

    www.thechosen.tv
    Staff member
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    35   0   0
    May 12, 2013
    31,685
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    Camby area
    A check is basically nothing more than an IOU. Your debit/credit card is instant money right to the store. Balances can be checked electronically immediately. Not so with a check. And remind me not to get behind you in the checkout lane. :):
    Yep. I can write a check against an empty account and you have no idea until you try to cash it. Though newer systems scan the check and ask the bank if it will pass, just like a debit card. And they give you back the check because its now in the system electronically.

    The debit card transaction is confirmed by the bank to have enough to cover the transaction, and then the bank puts a hold on that amount to keep it from being spent between the time of the transaction and when the store's POS system actually removes the money from the account. (usually within 3 days)

    That hold can screw you. Never use a debit card to buy gas. Since they dont know how much you are going to buy, they'll ask the bank if they will be able to get $100 out of the account. The bank says "sure" and then puts a 2 week hold on that cash. Within a week the gas station will actually transfer the actual amount purchased. Once they remove that amount, the bank releases the balance. Not sure why gas stations take so damn long. They seem to be the only merchant type that waits up to a week (or more) to take the money out.

    So unless you want excess bank funds tied up with holds, dont use a debit card. Hotels do it to for incidentals too.

    While we are on the subject, ONLY use credit cards for online transactions. Because if the merchant defrauds you, or somebody gets their hands on the number due to a server breach, you aren't on the hook for the fraud. They will refund your bad transactions immediately while they investigate. With a debit card, most banks will NOT reimburse you until AFTER the fraud investigation is complete. Which is typically 30+ days. And in some jurisdictions, banks may only reimburse you above a certain amount per transaction. So if somebody charges 3 things for $1,000 each: Credit card immediately puts the $3,000 back in, and if true, you dont owe a dime. Debit transactions wont be refunded until after the investigation, and even then, you may still be on the hook for $50 per transaction, and lose $150 in the end for the 3 transactions. (none of my banks do this, but YMMV)
     

    DoggyDaddy

    Grandmaster
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    73   0   1
    Aug 18, 2011
    102,027
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    Southside Indy
    Not sure why gas stations take so damn long. They seem to be the only merchant type that waits up to a week (or more) to take the money out.
    When I get gas at Kroger (Southern Plaza), the charge is on my bank account by the time I get home. Seems like restaurants are slower. I think it just depends on who their card processor is.
     

    DoggyDaddy

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    73   0   1
    Aug 18, 2011
    102,027
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    Southside Indy
    With a debit card, most banks will NOT reimburse you until AFTER the fraud investigation is complete.
    Which is why I like my credit union better than a bank. :) At both my previous and current credit union, when my debit card was compromised, I had the money back in my account within a day or 2. And now, my current CU can print me a new debit card right there in the branch as soon as I report it.
     

    Frosty

    Grandmaster
    Rating - 100%
    11   0   0
    Jan 27, 2013
    8,389
    113
    Greencastle
    That hold can screw you. Never use a debit card to buy gas. Since they dont know how much you are going to buy, they'll ask the bank if they will be able to get $100 out of the account. The bank says "sure" and then puts a 2 week hold on that cash. Within a week the gas station will actually transfer the actual amount purchased. Once they remove that amount, the bank releases the balance. Not sure why gas stations take so damn long. They seem to be the only merchant type that waits up to a week (or more) to take the money out.
    Casey’s gas stations charge $1, you get your gas, the refund the $1, then charge you for the gas.
     

    DragonGunner

    Grandmaster
    Rating - 100%
    1   0   0
    Mar 14, 2010
    5,514
    113
    N. Central IN
    Still got my check book, seldom used. I got a Cabela’s credit card 20 years ago. The more you use it the more points for purchases. Have never paid interest. Pay it every month and have bought thousands of dollars in merchandise over the years. Can’t believe they haven’t cancelled me yet… lol.
     

    Frosty

    Grandmaster
    Rating - 100%
    11   0   0
    Jan 27, 2013
    8,389
    113
    Greencastle
    Which is why I like my credit union better than a bank. :) At both my previous and current credit union, when my debit card was compromised, I had the money back in my account within a day or 2. And now, my current CU can print me a new debit card right there in the branch as soon as I report it.
    Same, except the printing a new debit card. I’ve had my account compromised twice, both times the bank caught it, called to confirm and shut down my card. I go in and fill out a paper and the money is back in my account in a couple days. Now getting a new debit card is like a 7-10 day suckfest of going to buy something and forgetting your debit card doesn’t work :facepalm:
     

    DoggyDaddy

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    73   0   1
    Aug 18, 2011
    102,027
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    Southside Indy
    Debit transactions wont be refunded until after the investigation, and even then, you may still be on the hook for $50 per transaction, and lose $150 in the end for the 3 transactions. (none of my banks do this, but YMMV)
    Again, none of that with my credit union. They credit me within a day or two, then worry about Visa reimbursing them.
     

    DoggyDaddy

    Grandmaster
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    73   0   1
    Aug 18, 2011
    102,027
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    Southside Indy
    Same, except the printing a new debit card. I’ve had my account compromised twice, both times the bank caught it, called to confirm and shut down my card. I go in and fill out a paper and the money is back in my account in a couple days. Now getting a new debit card is like a 7-10 day suckfest of going to buy something and forgetting your debit card doesn’t work :facepalm:
    My previous credit union was like that for a long time. Shortly before I transferred over to my present credit union, they got the card printing thing. My current one had it already. Saves a LOT of hassle, like you said.
     

    indyblue

    Guns & Pool Shooter
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    4   0   0
    Aug 13, 2013
    3,589
    129
    Indy Northside `O=o-
    I only use debit card to get cash on demand from atm.

    I use the Discover card for everything else possible, groceries, gas, etc. To maximize by cash back points. If something goes awry I can contest the charges with Discover card and not worry about it.

    My PayPal account is backed by my Discover card for the same reason, if there’s a dispute I will let Discover card and PayPal duke it out.
     

    Cameramonkey

    www.thechosen.tv
    Staff member
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    35   0   0
    May 12, 2013
    31,685
    77
    Camby area
    When I get gas at Kroger (Southern Plaza), the charge is on my bank account by the time I get home. Seems like restaurants are slower. I think it just depends on who their card processor is.
    could be because its a grocery. Marathon, Speedway, etc all take FOREVER. I remember it was hell after my bankruptcy and I was trying to rebuild credit.
    Maybe they have sped up in 20 years? :dunno:
     

    DoggyDaddy

    Grandmaster
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    73   0   1
    Aug 18, 2011
    102,027
    77
    Southside Indy
    could be because its a grocery. Marathon, Speedway, etc all take FOREVER. I remember it was hell after my bankruptcy and I was trying to rebuild credit.
    Maybe they have sped up in 20 years? :dunno:
    I buy smokes at a Get Go station (formerly Ricker's) and it hits my account right away too. I still think it probably depends on the credit card processor they're using. Aldi and Kroger have hit my account by the time I get home from grocery shopping too.
     

    Cameramonkey

    www.thechosen.tv
    Staff member
    Moderator
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    Rating - 100%
    35   0   0
    May 12, 2013
    31,685
    77
    Camby area
    I buy smokes at a Get Go station (formerly Ricker's) and it hits my account right away too. I still think it probably depends on the credit card processor they're using. Aldi and Kroger have hit my account by the time I get home from grocery shopping too.

    Are you sure? Sure, my iphone will display the money on hold on the screen before the bartender can turn around to give me the slip to sign. But thats not what Im talking about. Thats the hold, not the deduction.

    Im talking about them actually deducting the money from your account. THAT is what takes a while. (or took a while)
     

    DoggyDaddy

    Grandmaster
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    Rating - 100%
    73   0   1
    Aug 18, 2011
    102,027
    77
    Southside Indy
    Are you sure? Sure, my iphone will display the money on hold on the screen before the bartender can turn around to give me the slip to sign. But thats not what Im talking about. Thats the hold, not the deduction.

    Im talking about them actually deducting the money from your account. THAT is what takes a while. (or took a while)
    It's the exact amount, whether at the pump (Kroger) or in the store. No pre-charge hold or anything. I don't have an iphone. I just log in to my account with my laptop. And my Kroger or the gas stations I go to don't have bartenders. :):

    So how long have you been at the "gas station"? :lmfao:
     

    snapping turtle

    Grandmaster
    Rating - 100%
    6   0   0
    Dec 5, 2009
    6,462
    113
    Madison county
    I write one check a month. Payment for my man toy at the credit union. They said in November they will update the online banking system to allow me to easier transfer money from my main account.

    I don’t mind writing the check. They are on the way home and it does cost me 7 minutes in and out. 3 minutes of chat with the clerk.

    Once the checks are gone maybe I get one more book. I have 35 check left and should have the man toy paid off In 33
     
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