Quote:
Originally Posted by Vikingjunior
BS. Debit Cards have a PIN which is more secure than a credit card. Banks will also protect you on fraudulent debit card purchases.
I just wouldn't link my life savings to a debit card, maybe just a modest checking account.
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Not exactly. Debit cards have a PIN, but you don't need to use it when making a purchase. You just select "credit" on the key pad and the PIN is not required. But, when you use a debit card, even when you select "credit", you do not get access to the credit card transaction dispute process that is mandated by Federal law. Under the Federal law, you have 60 days from the statement date to dispute a credit card charge, and the bank must immediately remove the charge and independently investigate your dispute. Yes, most banks do have a process to correct fraudulent debit card charges but it is not mandated by Federal law. So, you must depend on the bank's process for resolving disputes, and you may not be able to appeal their decision to the Federal Government, like you can with a credit card dispute.