posted on August 29, 2001 12:32:13 AM
Okay so not exactly Ebay, but anyways, I remember there being a thread here awhile back. Someone got ahold of my sister's Visa Debit Card number & started making phone calls using it. The bank caught it before the charges even posted, still not sure if she's going to have to pay the charges or not.
I remember something about a limit on responsibility for DEBIT cards?? It's a Wells Fargo ATM & Check Card.
Thanks.... Now if I can just get back to working on my Ebay listings....
All that & a Bag of Chips Too!!
posted on August 29, 2001 02:21:07 AM
In most cases, if a Credit Card is reported stolen the owner has a liability limit of $50.00. I believe this is the credit company courtesy.
I am not sure about debit cards, she needs to ask her bank.
posted on August 29, 2001 05:17:22 AM
The issue with this is, on a credit card you simply do not pay the disputed amount. On a debit card, the amount is gone from your account. Your bank may "provisionally credit" it to you while they investigate, but it will certainly be true that you will be without use of that money for some number of days.
posted on August 29, 2001 11:23:17 AM
Here are several links of pages I had found related to debit cards. I had posted these in the thread on the PayPal debit card thread. These links discuss the differences in protections and the potential dangers of debit card usage.
Debit cards do not hold all of the same privileges as a credit card. Debit cards actually hold very few. You do not have the guaranteed legal buyer protection that credit card holders enjoy and in most cases absolutely no chargeback priviledges. Debit cards are only a medium to withdraw money and have extremely limited fraud protection for the consumer. They're just a convenience which can turn into a big inconvenience in the wrong circumstances.
