On Mon, 2 Feb 2015, Dave Close wrote:
Paul Graydon wrote:
Heck, anyone paying for goods in US stores as debit
already type in their pin at the moment. It just changes how you put
the card in the machine.
Derek J. Balling wrote:
Most debit cards have a Visa or MC logo on them, and you can sign. I
don't know the numbers, but I'd wager that's how a lot of people use
them, since it's so similar to how they use their other cards.
My debit cards also operate as credit cards, though the charge goes
through as a debit. With credit, I sign; with debit, I'd enter a PIN.
I don't enter a PIN. I don't see why anyone does.
If you use a pin you are subject to the per-debit transaction fees that may
apply, if you use it as credit you may have to pay any 'use as credit' fees your
bank may charge you (at one time it was $3/month max or something like that on
my account) and the merchant pays their % to the credit card processor.
So it's very much in the merchant's interest to have you use the debit/credit
card as debit
(yes, there was a time I was making little enough that I cared about such
differences :-)
In the US a credit card transaction has better legal protection than
debit. True, most issuers promise to apply basically the same rules
to both, but they are not legally required to do so. Credit cards are
limited to $50 liability, debit cards are unlimited. You might get a
refund on a fraudulent debit but it might take a while and cause other
debits to bounce in the interim.
I'm not sure if these same liability limits apply to a debit card used as a
credit card.
David Lang
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