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Another Debit Card Horror Story

 Debit Card Horror Story

A friend was at a local pub.  She purchased a drink and the bar kept her debit card “Open” and also kept the card at the bar.  She hung out with a group of us around the pool table.  She had a couple of drinks and about four hours later she went to pay her tab and leave.  They could not find her card.  The bartender  looked all over and it was not where they keep the customer’s cards. 

 

The Bar gave her Debit Card to Someone Else


My friend then went into her checking account that the debit card was linked to and found that in the past four hours she had bought burgers at Five Guys, stuff at Target, and drinks at another bar.  All the while she was sitting with us.


She called her bank but the bank is not open except business hours and she could not shut off her debit card without talking to a customer service agent.  She did not have the emergency number of the bank because it was on her card. Her bank holds the customer responsible for the first $300 of unauthorized use on a debit card. Eventually she was able to contact customer service and get her Debit card shut off.


She had scheduled her car payment and rent payment to come out of her debit card that weekend. It created a huge mess for her.


What is the lesson from this Debit Card Horror Story? 

1.  Never leave your debit card in the control of a bar in an “open” arrangement.  

2.  Use of a credit card in this case would have put all of the problem with the credit card company.  You will not have to pay anything on fraudulent use of your credit card.


3.  I don’t have or use a Debit card.


4. If you choose to use a Debit card put the Emergency Number of your bank in your phone and have the account number available. Hopefully you will never need it. My friend spent twenty minutes on the phone trying to find the emergency number to her bank to get her Debit Card shut down.


Why Vendors and Banks love Debit cards. 

Fees.  If you use a Debit card the bank fee to where you purchase stuff is between .10 and .30.  If you use a credit card the bank fee to your vendor is .30 + 1.9% to 3% of the purchase.  Credit cards cost the store that accepts them a lot more than accepting a debit card.

ATM Debit Card Horror Story

Many Bars and Stores have Debit Card ATMs. Every time the ATM is used the store makes between one and four dollars. If you get money from the ATM machine your account will be charged. At the local bar I go to several people use the ATM as soon as they walk in to get cash. It is a Debit Card Horror story to me to see people spend $4 to get their own money out of an ATM. I have seen many people get $20 or $40 out of an ATM and pay the $4 fee. You work hard for your money don't waste it on Bank Fees.


Remember you do not get Float or a Grace Period when you use a Debit Card.


Another Step to Secure your Debit Card

Separate from your Debit card or wallet write down your card number and the emergency phone number to your bank. Put this in a secure place in your car so if your wallet or purse is stolen you can access this information right away.

On this same card I have several emergency numbers in case my cell phone is stolen or misplaced.


I put clear tape on my card so if some water or a beer happens to get spilled on my Emergency Backup card I can still read it.




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