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Old 09-30-2016, 12:51 PM   #61
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Everything has advantages and risks. I think most of us here are satisfied with our current setups.

It is good to have the discussion now and then though to make sure that our assumptions are still good and and identify any new risks that have emerged.

-gauss
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Old 09-30-2016, 12:54 PM   #62
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I found getting cash, while travelling in Europe, cheapest with my Schwab ATM/debit card. They refund atm fees, and there was no foreign transaction fee. Not everything can be put on a credit card when you're travelling... sometimes the gelato vendor wants cash.
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Old 09-30-2016, 02:37 PM   #63
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I found getting cash, while travelling in Europe, cheapest with my Schwab ATM/debit card. They refund atm fees, and there was no foreign transaction fee. Not everything can be put on a credit card when you're travelling... sometimes the gelato vendor wants cash.
We do the same. When we travel internationally we use our Fidelity cash management debit card for cash withdrawals from ATMs (with refundable fees and favorable exchange rates) and our Fidelity visa card for credit card purchases with a 1% transaction fee.

We carry a couple of other CC for emergencies only.
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Old 09-30-2016, 03:10 PM   #64
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After my first shock of using my Fideiity debit card at a train ticket machine in Europe and not being asked for a PIN, I decided that was OK because at least I didn't have to worry about something capturing my PIN and then turning around with a cloned card at an ATM. I'm sure there is a €/$ limit on such a PINless transaction.

It also helped that I got an email immediately whenever the card was used for debit or ATM withdrawal with all the transaction details.
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Old 09-30-2016, 03:19 PM   #65
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I found getting cash, while travelling in Europe, cheapest with my Schwab ATM/debit card. They refund atm fees, and there was no foreign transaction fee. Not everything can be put on a credit card when you're travelling... sometimes the gelato vendor wants cash.
I have both Schwab and Fidelity debit cards and what I found out this trip (or verified rather) was that Fidelity has the same no foreign transaction fees and fee reimbursement for ATM withdrawals. It's only for overseas debit card purchases that the Fidelity card adds a 1% foreign transaction fee.

Unfortunately I can't seem to configure Schwab Bank to text or email me when a transaction occurs. Fidelity does so immediately with all the pertinent details (ATM or debit, amount in $, location, time). I really appreciated this immediate feedback and I ended up using the Fidelity debit card more.

We tend to use cash in Europe for meals <50, purchases <30, taxis and tickets if the machine accepts bills. It was just easier. Stores and restaurants are happy to accept credit cards for larger amounts.
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Old 09-30-2016, 03:39 PM   #66
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Interesting that this came up. My Debit card from a local bank in Wisconsin was hacked this past weekend. I think it happened in a grocery store in central Florida. The withdrawals were all taken out at 3 different locations in the Chicago suburbs. Bolinbrook-Lisle etc $500.00 a pop. 14
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Old 09-30-2016, 05:43 PM   #67
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.....One thing that was nice is that I didn't have to pay the $50 that I think is required for credit card fraud. But then I have not had my CC long enough to have fraud on it yet, so I don't know if they still charge that or not.
I've had fraud charges on both my MC and Visa, where they issued me new numbers and new cards. Neither one charged me the $50.
Why would they want to antagonize their customer.
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Old 09-30-2016, 08:04 PM   #68
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One thing that was nice is that I didn't have to pay the $50 that I think is required for credit card fraud. But then I have not had my CC long enough to have fraud on it yet, so I don't know if they still charge that or not.
$50 is not required. No credit company charges that "max charge" these days. I never have been even though I have had many incidents of credit card fraud.
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Old 09-30-2016, 09:55 PM   #69
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$50 is not required. No credit company charges that "max charge" these days. I never have been even though I have had many incidents of credit card fraud.
Heck, I've even heard of the CC company offering rewards for being prompt in reporting fraud. This was back in the day before so much computerized monitoring though. But I've never heard of anyone actually charged the $50 - that's a max, not a requirement.

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Old 10-01-2016, 02:59 AM   #70
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with debit cards the saying nothing is a problem until it is a problem has never been truer . i got my money back immediately when my pin was stolen from within the banking system .

but if an investigation is needed there is no real time limit if ever . the only rule is they have to open an investigation within 10 days not finalize it . you are left wide open to the whims of the bank and not laws when things do not go to the letter .

the worst is visa says if a non visa network was used to get money than you are not covered with a debit card . like we have control over which network the bad guys use .

you don't have the same fraud protection under the law with debit cards as you do credit cards . you are subject to different rules and the whim of the bank in many circumstances involving your pin being used with debit cards . credit cards fall under the truth in lending act . debit cards fall under the electronic fund transfer act , federal reserve regulation E .

i always use credit cards for purchase.

http://www.creditcards.com/credit-ca...redit-1282.php
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Old 10-01-2016, 04:21 AM   #71
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Someone "kited" a check and used my savings account number a number of months ago. It took USAA over a week to replace the money. Once resolved, I closed all the USAA accounts and now bank with a small local bank. The new bank insisted that I take a debit card with them. I took it and put it in my safe deposit box. Debit cards are a ticking time bomb these days. Only credit cards for me.
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Old 10-01-2016, 08:59 AM   #72
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After my first shock of using my Fideiity debit card at a train ticket machine in Europe and not being asked for a PIN, I decided that was OK because at least I didn't have to worry about something capturing my PIN and then turning around with a cloned card at an ATM. I'm sure there is a /$ limit on such a PINless transaction.
Yes, it's normally 25 EUR per transaction, with a total limit of 250 EUR per day. At least that's the limit in contactless payments.

With regards to how they can get your PIN: covering up the pad is good to prevent pinhole cameras from working.

Some rigged ATMs however have a extra pressure pad underneath the keypad, so no dice in that case.
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Old 10-01-2016, 09:22 AM   #73
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Only ever used my debit card for ATM transactions, only at my bank's ATM's. My bank has a very good no-liability agreement.
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Old 10-01-2016, 12:17 PM   #74
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Yes, it's normally 25 EUR per transaction, with a total limit of 250 EUR per day. At least that's the limit in contactless payments.

With regards to how they can get your PIN: covering up the pad is good to prevent pinhole cameras from working.

Some rigged ATMs however have a extra pressure pad underneath the keypad, so no dice in that case.
Well I had one PINless transaction that was over €34. I suspect the SCNF machines make the call, just like vendors in the US do.

Yes, I was very careful about covering hands to enter any PIN. I don't think the pressure pads are nearly as common as the pinhole cameras. Most of the ATMs I visited had keys coming up right out of the bare metal frame, so I don't see how someone could modify those keypads

Only went to banks for ATM withdrawals.

The fact that I could make PINless debit transactions was really criticized in the Tripadvisor forum in case of card loss, but between a very limited circumstances (and amounts) for using such a mode and receiving instant emails whenever a transaction occurred, I was not concerned as I felt my liability would be low.
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Old 10-01-2016, 05:53 PM   #75
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Since there is NO security advantage to a debit card over a credit card, there seems to be no reason to have one.
I get about $16/month interest on my debit account.
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Old 10-01-2016, 06:14 PM   #76
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Since there is NO security advantage to a debit card over a credit card, there seems to be no reason to have one.
Except for the cases when debit cards are accepted but credit cards not. And you can't use cash.
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Old 10-01-2016, 06:33 PM   #77
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Except for the cases when debit cards are accepted but credit cards not. And you can't use cash.
I don't believe I have ever been at a retail establishment where it was "only debit cards"! Where are these places?
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Old 10-01-2016, 07:04 PM   #78
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I get about $16/month interest on my debit account.
I get some interest too, but I have to have 12 debits/mo and 1 ACH. Am thinking maybe I'll just drop the sum in the account and go with less cash available. At least until rates rise more to make this worthwhile.
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Old 10-01-2016, 07:26 PM   #79
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I don't believe I have ever been at a retail establishment where it was "only debit cards"! Where are these places?
There is an independent gas station near me that lets you use debit cards but not credit cards. I suspect it's because the merchant fees are much higher for credit cards. You can also go inside and pay cash... which adds time and hassle to filling up.

(I don't use that station much - but it's my backup if I can't get to costco.)
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Old 10-01-2016, 08:22 PM   #80
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There is an independent gas station near me that lets you use debit cards but not credit cards. I suspect it's because the merchant fees are much higher for credit cards. You can also go inside and pay cash... which adds time and hassle to filling up.

(I don't use that station much - but it's my backup if I can't get to costco.)
audreyh1 mentioned no cash or CC's, only debit cards. That would put me out as I don't have a debit card.
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