Realist News (Jsnip4)

Full Version: Debit card limits?
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WTF? So they are forcing you to use a CC now?

http://money.cnn.com/2011/03/10/pf/debit...htm?hpt=T2
yea, it's getting a little nuts with the things they say are for "cutting losses". Seems to me most of their measures, like electronic cards and no paper checks for new social security recievers as a cost cut, are just more ways to make people rely on electric transactions. I already get looked at strangely for spending cash...
first off, most check cards can be used as debt or credit. as a transaction type. check cards do not run your credit. so as long as you have a checking account and funds in the account the consumer shouldn't have an issue. credit vs debit true diffrence is that with debt you can get cash back. debits run on atm line. so to the bank it is a non-bank atm transaction. and has fees.

As for the account fees if you dont like the fee then go to another bank that offers a free account. most banks offer diffrent account types that have min balance requirments or a direct deposit requirement to avoid the fees 'most of those you get some service for free'.

the issues of a change that i have issue with "and it is not stated in the report is' that you have to do so many check card trans to avoid a monthly fee' some of thes banks have stared to have free account but you have to use card like 6 times per month.

there are still some banks that they will always have a form of a free check. a true free checking is no min balance no direct deposit and no check card requirements.
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