+1 Not sure if it's the same in the USA, but in Canada all I need my debit card for is to login to my online banking and to withdraw cash. Any type of POS or bills, etc. are paid with credit card.
Is this legit ? why do you have to give them a current account number to open ? Just to ach the funds back and forth ?
Here's a FW thread about this bank/deal, started by none other than longtime ET poster ElectricSavant who apparently has moved on to other pastures: http://www.fatwallet.com/forums/finance/980987
The best solution is to get a prepaid card from your bank , sometimes known as a gift card. If your bank doesn't have them somebody else will. Only the amount in the account can be attacked and it's not connected to any other accounts by relationship. Use it anywhere you think is dodgy and for all online purchases. Load it with funds when you expect to use it, otherwise some very small balance.
The best solution for what? Online shopping? Restaurants? Gas Stations? To each his own, I have no problem using credit cards knowing that I'm fully backed by credit card protections and I receive all the benefits they provide.
lol. I read this a few weeks ago in yahoo! finance and I wondered the same. I think they are trying to scare people away from debit and deep into credit. Normally, credit cards have the same problems. The title is misleading though.
I use mine everywhere, all the time. Had a problem once and contacted Chase. Money was back in my account 30 minutes later, card was suspended and they shipped me a new one. Ninjas those Chase bankers are......
How do you us a debit card online? I thought all debit cards had pin numbers associated with them? Anyway I use debit all the time, we get free transactions, the security is better, mine is insured the same way my credit cards are and online banking makes it nice and easy to balance the check book. Credit cards are handy for internet purchases and my wife uses credit cards for all purchases to collect points and crap like that.