Yea, I found that one out the hard way about 4 years ago... I
use AMEX for that stuff anyhow...
> -----Original Message-----
> From: bpreece1@tampabay.rr.com [mailto:bpreece1@tampabay.rr.com]
> Sent: Saturday, September 21, 2002 10:19 AM
> To: slug@nks.net
> Subject: Re: [SLUG] Batteries Plus review
>
>
> Some other things about Debit Cards.
> Bank of America on the new Debit Cards has a Visa Logo on them.
> How ever they are only marked with the visa logo in case
> places do not take
> debits but take Visa cards.
>
> They then run it as a Visa and Bank of America processes it
> as a debit card.
> How ever here is a catch.
> let's say you go to a Car Rental like Hertz . They run the
> card what happens
> is when it is ran it can lock your
> checking account for up to 10 days. This is because as
> mentioned they can
> wait days to process this transaction so in the mean time you
> can not use
> your account for anything.
>
> So beware.
>
> Bill Preece
>
> ----- Original Message -----
> From: "robin" <robin@roblimo.com>
> To: <slug@nks.net>
> Sent: Saturday, September 21, 2002 7:36 AM
> Subject: Re: [SLUG] Batteries Plus review
>
>
> >
> > > Plus, not many people realize that you have certain fraud
> and abuse
> > > protections as a consumer when you use a credit card.
> This isn't true
> > > with debit cards, and I doubt it's true with one of these "check
> > > substitute" services.
> >
> > This is correct. And don't forget my "Roblimo" sig comes from having
> > owned "Robin's Limousine," so I have many years of
> experience dealing
> > with merchant banks (credit card processors).
> >
> > Here's another "gotcha" that can hit you with debit cards
> or checks that
> > aren't really checks but debit authorizations: the merchant may not
> > submit their request for payment for many weeks. I've had debit card
> > transactions show up as long as 60 days after my purchase.
> In theory,
> > one of the advantages of debit cards over credit cards or
> checks is that
> > you can't go over your limit or spend more than you have in your
> > account. This is not so. I got bit by this once and ended
> up over $400
> > overdrawn on a checking account because of it, plus $75 or
> so in bank
> fees.
> >
> > The nice people at Bank of America immediately credited the
> fees back
> > and hooked that checking account to a credit card for overdraft
> > protection, but I learned a lesson from the experience and
> moved to my
> > current purchasing pattern:
> >
> > 1) All company-reimbursable purchases (mostly travel) made
> on one credit
> > card that is used for nothing else.
> >
> > 2) All substantial personal purchases (including tax-deductible but
> > non-reimbursable business spending) on a separate credit card.
> >
> > 3) Debit card used only to get cash from ATM machines; all
> purchases not
> > made with credit cards are made with cash.
> >
> > 4) Bills still paid mostly by check, but moving toward online pay
> > through B of A's system, which we've now tested for over a
> year with a
> > few small bills and have found to be problem-free. (Our
> other bank, a
> > small one in MD, has a troublesome and insecure online
> payment system.)
> >
> > - Robin
> >
> >
>
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