I did a google search on the terms you used in your post, “Debit Card Dirty Tricks”. And found some interesting reading. The first post comes from the UK and give free information to become aware of credit card company tricks. The next post comes from the US and offers to give the same information, in exchange for purchasing a book that gives you information you can get free from the internet. The third post writes about things to watch out for when using cards at the gas pump.
It is amazing that debit cards do these things. It does not surprise me. Banks are constantly AGAINST the consumer, but all the while encourage us to use the DEBIT cards, use CREDIT cards, get paid via DIRECT DEPOSIT, then don’t let you have your money right away. They set up loans so they get paid first, no matter what else is happening in your life. Make it a paperwork hassle to stop a direct deposit if something comes up. And it goes on and on and on.
We are going back to CASH. No DEBIT cards (banks made over $1 Billion “With a B”) in fees from “courtesy” overdraft fees last year alone encouraging people to use these things. We don’t use CREDIT cards either. Doing our best to rid them from our lives.
Thanks for the info. Everyone should be aware.
Another thing – the way that banks do withdrawls before deposits, causing your account to run up additional fees. Or clearing checks in the highest amounts first, then the lowest, so you incur additional fees. Even if you are $0.01 over, it can cost you a fee of $20-40 depending on your bank/credit union. More credit unions operate like banks these days anyhow. Much less “consumer oriented” if you ask me.
My response to this is to fight back! I am in a very tight financial situation right now and expect to have some NSF fees. I am going to ask my banks to WAIVE them! It costs NOTHING to try. And go to the banks executive offices or file complaints with bbb’s too. I find this strategy quite effective.
Нou know, it actually costs me more to extract cash out of my bank than to use debit cards- they charge nothing for debit card use, not sure what these “tricks” are people are talking about, but to get cash you either have to pay an ATM fee or a “teller” fee.
Good luck everyone! Not all banks charge a fee to get your money out. Mine does not as long as I use their atms or their tellers.
This is really a matter of knowing what you are doing and knowing how much you have in your account, and not going over that.