Debit Card

[AznDragon2004]

Do i get charged when using a debit card?

[USHER]

not if your under 18

[QuasarCav]

The foriegn bank machine screw over:

1.50 for using it
1.50 for your bank

Live it up until you are 19 (depending on the bank) but watch out when you are older. Buy a bank plan that suits your needs.

[ryder_23]

Student plans work great :thumbsup:

I think i pay 7$ a month, or 4$, i completly forget, but that includes, unlimited debit/atm (still have to pay actual atm fee but no bank fees), and then i get free web transactions, or up to a certain amount. I dont remember the exact details, but it works out great.

[AznDragon2004]

Right now i'm 19 and the bank is CIBC

[d-UNiT]

whats your bank account information

:D

ill help you out

[HRD2PLZ]

or be friends with your banker, I don't pay for any bank fees or services :D

[Xtrema]

Do not use debit card unless you ABSOLUTELY have to.

Credit card fraud is easy to beat. Debit card fraud is very hard to prove and get your $$ back.

If someone steals your card, they can withdraw $1000 from your saving account til you put a stop to it.

[d-UNiT]

and how will they know your pin?

[crazyning]

Originally posted by d-UNiT
and how will they know your pin?

That information is stored on the card.

[koopkoop2]

Originally posted by crazyning


That information is stored on the card.

No, it's not. The only thing on your card is information pertaining to your account details.

PIN's are stolen by inconspicuosly monitoring you as you punch in your numbers. Some shady employees involved in these dealings sometimes install hidden cameras above the till to grab your pin. Although there are a million other ways to do it.



As for getting charged - most banks will provide a limited amount of free transactions, before they start to charge. Eg. TD bank gives me 20 free debit transactions before charging.

[Skyline_Addict]

^^ do people have to swipe your actual card before they can do anything? or is there a way around that.

[koopkoop2]

Originally posted by Skyline_Addict
^^ do people have to swipe your actual card before they can do anything? or is there a way around that.

Yes.

In order to do anything. they need to have :
1) Your PIN
2) Your card's magnetic strip information

They can't do anything with just one half of the pair.

Your PIN is obtained as described above.

The most common method for obtaining your strip info is by setting up another card scanner under the till. Instead of verifying your info, like the ones provided by Interac, it stores it in memory so your card can later be cloned.

When you give them your card to pay, they scan it through their card recorder then through the legit machine. That's why it's a good idea to either scan your card yourself or, if that options not available, watch the clerk as they scan it. Of course, this scheme can only be used when the clerk is working alone or else a co-worker would be like "WTF is that new piece of equipment under the counter". Watch out for late night gas attendants or Mom & Pop operations (where it may always be the same person who works the till). Ditto for any debit machine operated by a single person over the period of an entire shift.

[FiveFreshFish]

Originally posted by koopkoop2
That's why it's a good idea to either scan your card yourself or, if that options not available, watch the clerk as they scan it.

Really tough to do at most restaurants.

[no_joke]

Debit cards? Eww.

If you're over 18, just get a credit card. I'm not a big spender so I pay it off every month and I don't get charged for each transaction either. I'm at TD and I don't pay bank fees but you have to maintain a minimum balance.

[civicrider]

meh at TD i keep 3000 plus and i pay nothing and unlimited transactions:thumbsup:

[hampstor]

From talking to one of my customers who's a bank technician, the information about your account is stored on your card - that is, your bank account information AND YOUR PIN.

There is a type of scanner you can use that will also scan the pin, it is extremely restricted and the average joe will have a hard time getting it.

You can get your money back if they skim your debit card, it is a lengthy process - it took me almost 3 weeks (i was in the middle of purchasing a home).