Comments on: No More Plain ATM Cards? http://www.getrichslick.com/no-more-plain-atm-cards/1854/ Getting Rich Slick® has never been so easy... Sat, 28 Jan 2012 05:13:05 +0000 hourly 1 http://wordpress.org/?v=abc By: Rich http://www.getrichslick.com/no-more-plain-atm-cards/1854/comment-page-1/#comment-54524 Rich Sat, 30 Jan 2010 20:24:49 +0000 http://www.getrichslick.com/?p=1854#comment-54524 As soon as you slap a V/MC logo on a ATM card it becomes usable by nearly anyone who has possession of it. It is a HUGE security risk and yeah I've heard it before, "The bank will recover/restore your funds...blah...blah..blah" Think about it, if someone steals your credit card and charges up 10k you owe NOTHING when the bill comes due if you dispute it. The burden is on the CREDIT CARD company to recover/restore the money or worse the merchant. If someone steals your V/MC debit card, money IMMEDIATELY leaves your bank account. The burden is on YOU to recover the money. I can't tell you how many stories I've heard from co-workers who had their accounts frozen when reporting a stolen debit card. Bank of America is the worst. Just google some debit card horror stories.... As soon as you slap a V/MC logo on a ATM card it becomes usable by nearly anyone who has possession of it. It is a HUGE security risk and yeah I’ve heard it before, “The bank will recover/restore your funds…blah…blah..blah”

Think about it, if someone steals your credit card and charges up 10k you owe NOTHING when the bill comes due if you dispute it. The burden is on the CREDIT CARD company to recover/restore the money or worse the merchant.

If someone steals your V/MC debit card, money IMMEDIATELY leaves your bank account. The burden is on YOU to recover the money.

I can’t tell you how many stories I’ve heard from co-workers who had their accounts frozen when reporting a stolen debit card. Bank of America is the worst. Just google some debit card horror stories….

]]> By: Greg http://www.getrichslick.com/no-more-plain-atm-cards/1854/comment-page-1/#comment-54523 Greg Sat, 30 Jan 2010 08:23:35 +0000 http://www.getrichslick.com/?p=1854#comment-54523 Care to explain the point/purpose of having a non-V/MC plain ATM card? I really don't understand. I had some in the old days but have switched over. Is this for security reasons? Care to explain the point/purpose of having a non-V/MC plain ATM card? I really don’t understand. I had some in the old days but have switched over. Is this for security reasons?

]]> By: Dirac http://www.getrichslick.com/no-more-plain-atm-cards/1854/comment-page-1/#comment-54520 Dirac Mon, 25 Jan 2010 17:22:49 +0000 http://www.getrichslick.com/?p=1854#comment-54520 I too only want an ATM card. I was lucky in that HSBC offers one. This is very handy to have if you have to travel to Asia as many countries have branches and you avoid a whole lotta fees since you are using your bank. I too only want an ATM card. I was lucky in that HSBC offers one. This is very handy to have if you have to travel to Asia as many countries have branches and you avoid a whole lotta fees since you are using your bank.

]]>