[ale] OT: I AM paranoid!

[Jim Lynch]

James P. Kinney III wrote:

> On Thu, 2003-10-09 at 22:25, Jeff Hubbs wrote:
> 
>>For one thing, NEVER use a debit card for these kinds of remote
>>transactions!  You have FAR fewer protections associated with debit
>>cards than credit card carriers give.  
>>
>>- Jeff
> 
> <GONG!!> <BZZT!>
> Sorry. Wrong answer. Debit cards have the exact same protections as
> credit cards. Because they use the same data transfer mechanism as a
> credit card AND they carry the Visa/Mastercard logo to indicate the who
> processes the transaction, they are covered under the same fraud
> prevention technologies and $50 limit that credit cards have.
> 
> That said, there are some bank cards that are debit cards that are not
> part of the Visa/Mastercard system that do not carry those protection
> limits. Those cards can't be used as a credit card when a business
> doesn't support the debit card feature. If that gets compromised, the
> card holder is screwed completely to the wall (floor, ceiling, door
> frame). Those cards are generally handed out at the smaller banks to
> lower income customers who don't qualify for a credit card. 
GONG yourself.  While they might have the same technologies, federal law 
  does protect credit card users but not debit card users.  Most banks 
claim they give you the same rights, but in case they don't honor that 
statement you're screwed.

Jim.