Originally posted by BigScreen
My bank converted my ATM card into a debit card, and I didn't mind until I realized that someone that got hold of that card could literally empty by bank account until the card was reported stolen.
With a credit card, at least I have the $50 fraud limit, and purchases on it don't drain my checking account immediately.
I had them replace the debit card with the plain vanilla ATM card, and I now feel a little less exposed...
Since I haven't looked into them lately, have the policies regarding debit cards changed so that your bank account isn't at risk from fraud?
Well my bank assures me that it's the same complaint process as a credit card (I'll believe it when I have to try it)... the difference is that you are trying to get your money BACK not keep from paying it in the first place.
However, I only keep an exact ampount of money in my checking account with the debit card attached. Just enough to cover the checks I write and some expendable "spending money". Everything else is kept isolated.