reply to Morac
Re: Care Not I Do If you can't use it as a debit card with the pin then it is ran as a credit card and you have credit card protection. It is that plain and simple for every debit/credit card.
1 - Some banks provide more/less coverage but there are regulations that cover the basics.
2 - Depending on person they may or may not be able to get any charges waived.
3 - Timing is everything. If you have money coming out of your bank account in large sums and you dont notice it pretty quick, then you probably have enough cash and wont mind any fees to begin with. This person would also qualify for #2 above as they are probably a responsible and good customer so fees dont matter either way. It is pay check to pay check people that will get hit with fees and will probably know pretty dang quick that they are out of money.
As long as the transaction is processed through the Visa or MasterCard systems (AKA, don't use a PIN for the transaction), the transaction is protected by Visa or MasterCard, just like any other "real" credit card. If you use your PIN during the transaction, is doesn't go through the CC system and it's up to what the government/bank covers.
And these payment system process the transactions as credit card transactions so your protected, I don't think I ever use my debit card as a debit card with the pin number, unless I go to the ATM.
So the protection is just as good as credit cards in the vast majority of cases. A thief is going to try to use it as a credit card instead of trying to guess my pin, and I've never told anyone my pin number.
reply to techguyga
Didnt I just say that?