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Is it generally more secure to have online banking and online statements vs mail statements? If someone were to obtain my checking account number, could they order checks in my name from an online or mail order third party check company? If so, then what would my liability be for unauthorized check purchases? With a checking account number and no paper checks, could a criminal withdraw money from my bank account and if so, what would my liability be?
Is it generally more secure to have online banking and online statements vs mail statements? If someone were to obtain my checking account number, could they order checks in my name from an online or mail order third party check company? If so, then what would my liability be for unauthorized check purchases? With a checking account number and no paper checks, could a criminal withdraw money from my bank account and if so, what would my liability be?
I've seen both of these done. When I was in banking, if someone came in and said their house had been broken into we strongly suggested they close their account. We had a number of cases where single checks were stolen from the last book of checks, new checks ordered and fraud committed. It took a while, as affadavits needed signed, police reports needed filed, but the customer got his money back.
And more unusual, the bank I worked at had a customer whose son had a bad drug habit and the same name as the dad. He'd go to another branch, fill out a withdrawal slip, present ID and walk out with cash. Worse than that -- the guy had the same signature as his dad. It was so close a match, and not a forgery....they just signed the same. Creepy. It took a few months for the Dad to get fed up, and he came in and had massive holds placed on all his accounts, so the fraud stopped.
Had he pressed it, and had charges pressed he would have gotten his money back, but he chose to not do that and ate the loss.
Now -- if you gave your atm card and your pin to your girlfriend to take cash out, and then she steals your card and takes all your cash, you are out of luck. Giving her access once is as good as giving it to her for all time, and it's your fault the money is gone. The bank is not liable for that.
Thanks for your reply. When paying with a bank debit card at a store, is it better to select credit and sign vs selecting debit and entering your pin number?
Thanks for your reply. When paying with a bank debit card at a store, is it better to select credit and sign vs selecting debit and entering your pin number?
It's always safer to choose credit. Although, it's not as safe as using a real credit card.
Thanks for your reply. When paying with a bank debit card at a store, is it better to select credit and sign vs selecting debit and entering your pin number?
If the POS machine will let you, yes. Some places, like grocery stores (at least around here) won't let you use your debit as a credit card.
And more unusual, the bank I worked at had a customer whose son had a bad drug habit and the same name as the dad. He'd go to another branch, fill out a withdrawal slip, present ID and walk out with cash. Worse than that -- the guy had the same signature as his dad. It was so close a match, and not a forgery....they just signed the same. Creepy. It took a few months for the Dad to get fed up, and he came in and had massive holds placed on all his accounts, so the fraud stopped.
Wow, same scenario with a family friend. Son was a Jr. and did the same exact thing with his parents account. Same situation too, had a drug habit.
Never heard of not being able to use debit cards as credit. In NJ, it's normal practice.
Our grocery stores and some drug stores have a credit/debit button, unlike other places that have seperate credit and debit buttons. At those places when you enter your card you have no option but to press credit/debit and the machine defaults to debit.
It sort of makes sense -- debit swipes cost less to the merchant then credit swipes. But as a consumer it should be MY choice, not the merchant's.
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