John Oliver wrote:
On Tue, Aug 19, 2008 at 01:17:11PM -0700, Paul G. Allen wrote:
My Wells Fargo debit/check card give me more protections than a regular
Visa (including complete credit monitoring).
Except for one thing... if it's stolen or "hacked", your money
disappears from your account.
Um, no. Included with the credit monitoring is monitoring my purchases.
Something out of the ordinary and the transaction is put on hold, I get
a call immediately, and they ask me if it's OK. Also, if it does turn
out to be a stolen card/number, the account is transfered immediately to
a new account.
That can cause a cascade of other failed
payments, fees, hassles, etc. With a true credit card, you get a
statement about how much the thief racked up, and you call them and say,
"No thanks, not mine, I won't be paying". I know must reputable banks
will act to make things right if a debit card is used to clean out your
account, but immediately?
Yes, immediately. Example. I made a purchase at a restaurant that was
not normal for me (and it was not a small purchase.) I was called within
5 min of the transaction to ask me if it was OK. Another. Some automated
transaction went through on my account (can't remember what or why).
Within an hour (probably less, I was not paying that close attention) of
me talking to the bank about it, it was reversed.
The only reason I stay with Wells Fargo is some of the extra protections
they give me as well as the online banking and bill pay interface.
PGA
--
Paul G. Allen, BSIT/SE
Owner, Sr. Engineer
Random Logic Consulting
http://www.randomlogic.com
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