Debit card is tied directly to your bank account with no rollbacks. If somebody gets that info and decides to clean out your bank account, that money is gone, period, and you’ll never see it again.
With a credit card, you have a degree of separation and the ability to contest or roll back charges. Debit cards don’t do that.
Want to do a chargeback with American express or similar credit cards: call the toll free number and do it in less than 90 seconds, instantly approved
Want to do a chargeback with a debit card: you need to go to the police station and report the seller for fraud, then find the chargeback form hidden somewhere on the bank website, fill it and send it back together with the police fraud report via FAX (no email) to the bank, which might or might not approve it in 90 days. If it approves that, they will take a 30 euro fee from what you will get
I just emailed my bank, that was literally all it took. When I log in to my banking website I can do it right there, too. I just emailed them because I was afraid there might be consequences, but they called me up saying they’d already done it for me and I should have no worries
Happened twice, so it’s not a one-of, and since I could even do it myself right from the summary of transactions… All direct debit. I don’t even have a credit card, so it can’t be mistaken.
I guess it might vary depending on how much we’re talking… If they’re correct that credit card companies are requried by law and banks are not, then I can imagine a bank deciding to refuse to refund a purchase if they feel as if it’s too much money. At which point, it becomes much more of a hassle (lawyers getting involved, etc.) to get the money back.
Debit card is tied directly to your bank account with no rollbacks. If somebody gets that info and decides to clean out your bank account, that money is gone, period, and you’ll never see it again.
With a credit card, you have a degree of separation and the ability to contest or roll back charges. Debit cards don’t do that.
You’re in America, right? This isn’t necessarily true everywhere.
In Europe it’s like this:
Want to do a chargeback with American express or similar credit cards: call the toll free number and do it in less than 90 seconds, instantly approved
Want to do a chargeback with a debit card: you need to go to the police station and report the seller for fraud, then find the chargeback form hidden somewhere on the bank website, fill it and send it back together with the police fraud report via FAX (no email) to the bank, which might or might not approve it in 90 days. If it approves that, they will take a 30 euro fee from what you will get
I just emailed my bank, that was literally all it took. When I log in to my banking website I can do it right there, too. I just emailed them because I was afraid there might be consequences, but they called me up saying they’d already done it for me and I should have no worries
Happened twice, so it’s not a one-of, and since I could even do it myself right from the summary of transactions… All direct debit. I don’t even have a credit card, so it can’t be mistaken.
I guess it might vary depending on how much we’re talking… If they’re correct that credit card companies are requried by law and banks are not, then I can imagine a bank deciding to refuse to refund a purchase if they feel as if it’s too much money. At which point, it becomes much more of a hassle (lawyers getting involved, etc.) to get the money back.
Again, which law? We don’t all live in the USA.
Yeah, guilty as charged
The do in Europe, mate.
I have just set so that I need a digital ID to use the card for digital purchases.