Bon Aqua, TN
Cash is king.. I find it rather to easy to just swipe or not even swipe a card to pay for goods.. Way easy to go over your head in a hurry..
Cash is king currently, but it's utility in legal markets is declining. The archaic art of writing checks needs to disappear...please. Cash is tolerable, but the future is some sort of token (credit card, mobile device, or some other mechanism) for currency exchange.
I have no problem with cash, but the vast majority of people I know use their debit cards, often like a credit card for everything. Even with strangers, I very rarely see someone pay cash at the grocery store, department store, gas station etc.
It's all debits/credits.
I have checks, but no longer use them, everything is paid by ETF.
CXM_SplicerLooking at the bigger picturePremium
said by MovieLover76:
... the vast majority of people I know use their debit cards, often like a credit card for everything.
Same here and it is not a good idea, I try and talk people I know out of the habit. The protections of a credit card are just not there when you use your debit as a credit card... no insurance, disputing a charge is 10X harder since you money is already gone, just a hassle. Many people simply don't realize there is a difference.
I was burned by disputing a charge back in 2000 when I used a debit card to buy some deal online. The place charged me full price and took over 6 months to finally refund me. Never would use a debit card again for anything but gas. Anywhere can overcharge you and then the money can be gone if your account isn't holding a lot of money. I was in college and that set me back over $500 which hurt a lot then.
Google wallet seems pretty nice, except they want to charge a monthly fee to use it. So forget about that.
fiberguyMy views are my own.Premium
Yea.. a third party holding on to your debit/credit information so they can take a cut is just what the dr. ordered.
Debit cards are covered under Regulation E and have plenty of protection so long as YOU take steps to ensure that you are using them correctly. The only difference between the debit and credit card issue is one is backed by your money while the other is backed by the bank.
I've had issues with my debit cards in the past and the banks have always handled them correctly and within the time prescribed by law. (often sooner)
Make note though, charge backs are not there to protect you just because you dispute an issue with the merchant.. they're not going to stand behind you becuase you're not happy and want a refund either.. many people believe this. It's there to protect you against fraud AND from merchants who don't act in accordance with their own terms, and of course certain local, state, or federal laws. If you got over charged for an item, you had good documentation in your hand to prove your point, you should have had your provisional credit in 14 days, at least, while they disputed your claim.
|reply to travanx |
There's no fee to use Google Wallet.