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Old 12-10-2020, 09:05 AM   #41
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DW worked in a bank and "saw the sausage being made" on debit cards, so we never got one! They tried, even sending them to us multiple times over the last decade, and we never activated them, just shredded them.

Somehow, we still have ATM-only cards. These are not debit cards, they only work in ATMs. Perhaps we're grandfathered? They renew them when they expire. I wonder how long this will last.

BTW, the ATM-only card worked OK in Canada and Europe too.

We love the security of not even having a debit card in our possession.
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Old 12-10-2020, 09:24 AM   #42
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I have two debit cards, one tied to major checking account and the other to a minor (low balance) checking account. We use the major card to withdraw cash and the minor is tied to Apple pay and I use it with my watch as a gas card. On that, if I pull into a gas station and can not use the watch, I move on. (that has only happened twice in three years)
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Old 12-10-2020, 09:25 AM   #43
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Quote:
Originally Posted by JoeWras View Post

BTW, the ATM-only card worked OK in Canada and Europe too.

We love the security of not even having a debit card in our possession.
I was going for that security because I often have largish bucks in the account. Your mileage varied WRT travel. One place I struggled was way out of civilization on the Nicoya peninsula. Ended up with a fee-laden cash advance from a CC.
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Old 12-10-2020, 09:31 AM   #44
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I find it annoying to have to carry both a debit (for the ATM only) card & credit card...I blame banks/credit unions outsourcing their credit card operations for that.

Years ago I was able to get a credit card at a bank with all my account info also encoded so it worked as an ATM card as well...this was with a bank that handled its own credit card operations.
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Old 12-10-2020, 09:42 AM   #45
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Like many of the previous replies, my bank ATM card *can* be used as a debit card, but I never do. Use my Costco Visa for almost all purchases except some small cash transactions. Visa has the cash back reward, debit has none; in addition to the debit being less secure.
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Old 12-10-2020, 09:42 AM   #46
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When I opened the Schwab account to have access to their wonderful no fee including no foreign fees ATM card, I designated their bank account as travel cash only.

I had one concern once because someone was hanging outside a bank ATM and later taking screen pictures while interacting with the machine. We got suspicious, so I got on the phone automated system and changed my PIN just in case.

I also made Schwab turn off the automatic overdraft funding from my brokerage account which is on by default. This required a person via phone call.
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ATM Only Card
Old 12-10-2020, 10:03 AM   #47
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ATM Only Card

I opened a new BofA account a few years ago and asked them specifically for an ATM only card vs. a debit card. They had no issue with doing this.


My Schwab Bank ATM card is the only one I have that is also a debit card. I have been able to use this card overseas when my credit card was not accepted. (Some places, fewer and fewer, still did not take foreign issued credit cards when I was traveling extensively.) I keep a relatively low amount of cash in this account so do not worry about it too much. (Schwab's customer service has been good whenever I have had an issue, even though the issues were always of my own making.)



Quote:
Originally Posted by JoeWras View Post
DW worked in a bank and "saw the sausage being made" on debit cards, so we never got one! They tried, even sending them to us multiple times over the last decade, and we never activated them, just shredded them.

Somehow, we still have ATM-only cards. These are not debit cards, they only work in ATMs. Perhaps we're grandfathered? They renew them when they expire. I wonder how long this will last.

BTW, the ATM-only card worked OK in Canada and Europe too.

We love the security of not even having a debit card in our possession.
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Old 12-10-2020, 10:05 AM   #48
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I was going for that security because I often have largish bucks in the account. Your mileage varied WRT travel. One place I struggled was way out of civilization on the Nicoya peninsula. Ended up with a fee-laden cash advance from a CC.
Well, heck, it is a vacation, right? Blow that dough.

Seriously, we have the CC as backup but didn't need it. Of course, in far away places they gotcha. I was talking more about the ATMs in airports or dense urban areas.
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Old 12-10-2020, 10:06 AM   #49
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We NEVER had any, they are or at least were when initiated less secure than Credit cards with none of the benefits. We find them redundant as we pay our CCs monthly and do not hold a balance. IOHO, Debit Cards are for those who do not have decent credit cards or have difficulty managing money. Just our Opinion, we could be wrong.
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Old 12-10-2020, 10:23 AM   #50
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We have a chipped debit card. It has to be used with a pin number.
I have notifications from the bank set on the lowest settings.

We have never had any problems with it.
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Old 12-10-2020, 10:31 AM   #51
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The only debit card we use is the one connected to our HSA. We use it to pay the dentist and the pharmacy and the deductible at the doctor's office.
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Old 12-10-2020, 10:31 AM   #52
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I have never used my debit card for purchases of any kind. Security and transaction protection being the prime reasons. I have always paid off CC's monthly.

I only use it at an ATM for cash.
+1

I am in agreement with CardsFan.

Debit cards are much riskier compared to credit cards. You have far fewer rights if the card is misused or you don't what you paid for Besides I get cash-back on my credit cards - a minimum of 2% often up to 5%. I use the debit card strictly for ATM withdrawals.
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Old 12-10-2020, 10:32 AM   #53
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We never have had a Debit card. I just checked with my Credit Union, our ATM card is only an ATM card.
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Old 12-10-2020, 10:35 AM   #54
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I think the issue of debit card risk verges on being an OWT. While it is true that statutory protection from credit card fraud is stronger than debit card protection, I think that virtually every debit card issuer indemnifies their customers. For example, Schwab's protection is very simple: "Schwab will cover 100% of any losses in any of your Schwab accounts due to unauthorized activity." I am completely comfortable with that.

I use my (Schwab) debit card and my (one) credit card regularly. As mentioned, I too use the debit card with all ATMs worldwide. I actually don't have very strict rules about which card to use; the Visa is automatically paid off every month, so other than the $49 annual fee it is pretty much interchangeable with the debit card. One advantage of carrying two cards was underlined for me last week when the CC company detected a fraudster using my CC number. They immediately froze the card and sent me a replacement. So while waiting those few days I had the debit card for payments.

DW also carries a debit card and a credit card, both with different issuers than mine. That is an insurance policy against discovering in some far-away country that a card is being denied. This happened to us once and it was pretty much a non-event. We have also found that overseas ATM problems have declined over the last decade to approximately zero, even in third world countries like Vietnam, Ethiopia, and Myanmar.

I should worry more about points but the fact is I don't. I just cash them at a penny a point as an account payment on the Visa card.

Short version: I don't consider this question to be a very big deal.
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Old 12-10-2020, 10:46 AM   #55
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You guys are right about having legal rights under credit cards that you won't have on ATM cards.

I have auto and homeowner's insurances charged to my Capital One Visa card, and we use it for non-Amazon purchases. But I do use the ATM for day to day expenses like gas, groceries, etc. I could and should move everything over to the Visa card, but I honestly don't know how I could cash flow any more in order to pay such a Visa bill completely.

In retirement, it's often not a matter of having the money. It's having the right cash flow at the time bills need paid. When RMD's begin, the cash flow will improve.
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Old 12-10-2020, 11:29 AM   #56
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My bank refused to give me an ATM only card so they agreed to set my debit charge limit at $1. It only goes in the ATM.
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Old 12-10-2020, 11:39 AM   #57
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The only debit card we use is the one connected to our HSA. We use it to pay the dentist and the pharmacy and the deductible at the doctor's office.
+1

I had forgotten about ours.

One can also add the HSA card to their Amazon account & use it to pay for medical items.
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Old 12-10-2020, 11:47 AM   #58
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I think the issue of debit card risk verges on being an OWT. While it is true that statutory protection from credit card fraud is stronger than debit card protection, I think that virtually every debit card issuer indemnifies their customers. For example, Schwab's protection is very simple: "Schwab will cover 100% of any losses in any of your Schwab accounts due to unauthorized activity." I am completely comfortable with that.
You may be correct, but with a debit card, the money is gone from your account until the card company credits it back. With credit card, you simply dispute the charge. No money leaves your hands.

Several years ago a friend of ours had his checking account virtually cleaned out (to the tune of around $5,000) by fraudulent use of his debit card number. It took a week or two but the bank made it right, however, he only discovered the fraud when checks started bouncing, so he had that mess to deal with.
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Old 12-10-2020, 11:49 AM   #59
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I don't carry my debit cards at all. ATM withdrawals and large check deposits can be done with my phone app at the machine. Small check deposits done from home with the same phone app. Google Pay on the phone when I can (mostly pay at the pump, but some stores), otherwise physical credit card when I have to. Never debit card, almost never cash any more.
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Old 12-10-2020, 11:58 AM   #60
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We use credit card extensively.

We only use our debit card when we absolutely have no other choice. Once every two or three years at most. And never when we out of the country.
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