How to meet minimum number of debit transactions

[hopefullyoneday]

4%?

yes 4%. I saw a elect billboard on the fwy for new accts for cnboftx. I went to my local branch and they said it was to drum up new business for the new branch on the other side of the metroplex but they will honor it there also. Been over a year and still getting it.

 

[JoeWras]

I don't think you're getting it yet.

Of course you can use your debit card to get cash at an ATM as well as at stores. The point is that you can't use an ATM card at a store.

Exactly. ATM card <not equal to> debit card. And credit cards are a different matter altogether.

My credit union tried for years to jam that debit card down my throat. No way. I'm keeping my ATM card until they pry it out of my cold ... well, you know.

The ATM card is much more secure than the debit card. Less flexible. Yes. That's OK.

 

[aja8888]

I have a strict ATM card from Chase. Had it for 10+ years. Only good for their ATM (no charges) and some others for a fee. I can only pull cash from my account. The card is NOT a VISA or MC card and there is no logo on it other than the word "Chase" and "ATM Card".

 

[travelover]

OP here. Thanks for the participation.


Is there any reason why I can't just buy 12 Amazon $1 gift certificates with my debit card and send them to myself? Then just use the yearly $144 to fund Amazon purchases I'd have made anyway?

 

[audreyh1]

OP here. Thanks for the participation.


Is there any reason why I can't just buy 12 Amazon $1 gift certificates with my debit card and send them to myself? Then just use the yearly $144 to fund Amazon purchases I'd have made anyway?

Just don’t do more than 10 in one day, your Amazon account might get locked.

 

[mamadogmamacat]

The OP said debit card, not credit card.

correct, but the OP was not who i was trying to clarify the type of credit card with
moot point since it seems the OP was not much concerned with the fraud risk of a debit card

 

[travelover]

Just don’t do more than 10 in one day, your Amazon account might get locked.

I wondered about that after the Amazon banishment thread. Is the ten figure official or a guesstimate on your part?

 

[COcheesehead]

I don't think you're getting it yet.

Of course you can use your debit card to get cash at an ATM as well as at stores. The point is that you can't use an ATM card at a store.

I get it. I understood it from the first post. I was trying to say that some institutions combine an ATM card and a debit card.

 

[COcheesehead]

correct, but the OP was not who i was trying to clarify the type of credit card with
moot point since it seems the OP was not much concerned with the fraud risk of a debit card

You started your comment with “there’s a lot of misunderstandings around here.” Which seems to address the thread in general.

 

[sengsational]

OP here. Thanks for the participation.


Is there any reason why I can't just buy 12 Amazon $1 gift certificates with my debit card and send them to myself? Then just use the yearly $144 to fund Amazon purchases I'd have made anyway?

The only way we could know is if we looked at the rules...each CU has it's own. And I'm not remembering that the specific institution has been named.

 

[audreyh1]

I wondered about that after the Amazon banishment thread. Is the ten figure official or a guesstimate on your part?

Ran across this discussion: https://www.doctorofcredit.com/amazon-freezes-my-account-for-buying-lots-of-50¢-gift-cards/

Plenty more discussion on doctorofcredit.com about doing those debit card transactions to meet requirements.

https://www.doctorofcredit.com/bank...inimum-debit-credit-transaction-requirements/

https://www.doctorofcredit.com/1-minimum-amazon-gift-cards-reloads-still-50/

 

[audreyh1]

I get it. I understood it from the first post. I was trying to say that some institutions combine an ATM card and a debit card.

Debit cards in general can be used as ATM cards.

 

[audreyh1]

No, that is what I was trying to say.

The definition of an ATM Card is that is doesn't have the Visa or MC logo and can only be used to get cash from your account.

Debit cards have the logo and can be used for purchases at stores.

In addition, it usually has a limited network and probably can’t be used at ATMs overseas like in Europe which usually require an MC or VISA logo. The no foreign transaction fee ATM cards from Schwab and Fidelity are both VISA debit cards.

You may have the ability to limit the amount allowed for a debit card point of sale transaction.

 

[sengsational]

ATM cards without the Visa or MC logo can be used for cash withdrawals in foreign countries with some success. Usually the ATM card will be part of a network like Cirrus, but there are many such networks, and my ATM card has 3 or so. Now that's not to say it will work as well as a fake Visa or fake MC (that's what Clark Howard calls the debit cards), but I've often got money with my ATM only card. I'm a "no fake Visa" guy, so only have an ATM card and one time (out of very many), the machine refused to cooperate, even though it had the network logo on it. I had to use a cash advance on a credit card and that was painful. The other thing about ATM cards is that, at least at my CU, they don't accept info about trip location and date. So if their fraud detection stuff is tight, you might be outta luck.

 

[JoeWras]

ATM cards without the Visa or MC logo can be used for cash withdrawals in foreign countries with some success. Usually the ATM card will be part of a network like Cirrus, but there are many such networks, and my ATM card has 3 or so. Now that's not to say it will work as well as a fake Visa or fake MC (that's what Clark Howard calls the debit cards), but I've often got money with my ATM only card. I'm a "no fake Visa" guy, so only have an ATM card and one time (out of very many), the machine refused to cooperate, even though it had the network logo on it. I had to use a cash advance on a credit card and that was painful. The other thing about ATM cards is that, at least at my CU, they don't accept info about trip location and date. So if their fraud detection stuff is tight, you might be outta luck.

seng: you and I may have the same ATM card. We had no problem using it in Europe. We came with a back up plan of using credit cards for advance, but didn't need it. We got our cash in the bigger cities, with the direct bank ATMs that had the network logos.

Some in our travel party ran into the hit or miss thing too. It wasn't a problem since there were many different banks and they literally went across the street for success.

You can also check in advance of the trip on the ATM network and at least see what the density of approved ATMs is in the target area.

 

[GTFan]

just tried a reload of our gift card - it said the minimum was $0.50.

AMZ GC reload is by far the easiest way to do the DC minimums, and the card never leaves your house. If you're truly paranoid you can add/delete it from your AMZ account every month.

We get promos every so often from our local CU for free rewards points if you do so many DC trans in a month. I sit in the house and do them all in 5 mins, 50 cent at a time. Never use the DC otherwise.

https://www.amazon.com/asv/reload/order?_encoding=UTF8&ref_=gc_reload_button

 

[JoeWras]

Is there another account besides Amazon that we can use to game the system like this?

I'll be retired soon and have time. I'm game.

I just don't want to "get in dutch with" Amazon.

 

[audreyh1]

I suggest the doctorofcredit blog for seeing what people are doing on things like this.

 

[travelover]

OP here. I registered my debit card with Amazon and made my first $1 gift card purchase. I'll spread them out over the rest of the month. Either I'll earn $16 interest or be locked out of Amazon forever.

 

[Rustic23]

We have a debit card with USAA. I auto transfer $200 a month into it. I use it as a universal gas card. If the balance gets north of $300 I use it for eating out of such just to bring the balance down. I figure USAA will cover any short's caused by fraud, and if they don't I am not out that much, and the perpetrator does not have access to my main bank account.

Side note: Did you realize MANK was a word. I didn't but spell check did!

Noun. mank (uncountable) (Britain, slang, originally Polari) Something that is disgusting or manky. The plumber had to get all the mank out of the drain. Oh Well.

 

[Walt34]

Side note: Did you realize MANK was a word. I didn't but spell check did!

I never cease to be amazed at all the [-]useful[/-] useless information I learn on this forum!

 

[HtownRose]

PS - I just bought a 9 month CD earning 2.75%.

Where?! Sounds great!

 

[sengsational]

seng: you and I may have the same ATM card. We had no problem using it in Europe.

Right. Europe worked great for me too. It was a small town in Costa Rica that didn't. If it were a bigger town, I would have gone to a different bank, but there was only one bank in town.

 

[audreyh1]

Where?! Sounds great!

Andrews FCU

 

[HtownRose]

Andrews FCU

Oh cool, thank you! I have had an account with them previously so will have to see if I can get in on this deal.