I had my debit card number stolen...

luvmyswissy

By signature side means when you swipe and sign your name (and now a days you don't even have to do that if its under X $$) - usually mechants and restraunts.  ATMs require a pin and if you purchase at a store using a pin - that's considered "pin side".  The banks set up two different limits - one for pinned and one for signature. 

Now I understand! You are talking CREDIT card - right? No sig required for DEBIT cards. 

ahhh that's why they could use paypal with it!

My co worker had her credit card used fraudulantly back last year, she got a phonecall to verify she bought 8 laptops from this electronic store, she hadn't used that credit card in years.  She found out that the person who used her credit card lived only a block away from her.  What they suspect, is that they went through her garbage and found an old statement.  She had recently gone through her files and threw out her old statements.

 So be careful about that too!

l.michelle

What they suspect, is that they went through her garbage and found an old statement.  She had recently gone through her files and threw out her old statements.

 So be careful about that too!

Absolutely!  A $25 shredder is a fantastic investment!  I shred everything...old statements, those pre-approved credit card offers, anything that someone could possibly use to get my info or open accounts in my name.

No not "credit" but "debit".  See the debit card takes the funds from your checking account, using your money and not a line a credit.  So if you have a debit card that you can take cash from the ATM with a pin and it has a MasterCard or Visa Hologram on the front you can also swipe it and sign for the purchase but both are funded from you checking account.

l.michelle

ahhh that's why they could use paypal with it!

My co worker had her credit card used fraudulantly back last year, she got a phonecall to verify she bought 8 laptops from this electronic store, she hadn't used that credit card in years.  She found out that the person who used her credit card lived only a block away from her.  What they suspect, is that they went through her garbage and found an old statement.  She had recently gone through her files and threw out her old statements.

 So be careful about that too!

What we see a lot is when the cards are used to withdrawl cash from ATMs which requires a pin and the card owner is not a where of the transactions it is someone they know.  Like a child, brother  etc.  

In this day and age you should be careful of disposal of important documents for sure.  Banks are going to encourage everyone to use the signature side, remember - they make a lot of money when you do.  But if you can choose the pinned option over the signature options it is safer and harder for fraud.

luvmyswissy

it has a MasterCard or Visa Hologram on the front you can also swipe it and sign for the purchase but both are funded from you checking account.

OMG! I thought I understood. I must be dumb as a boot. LOL The thing is for all the years I have had a debit card, I have NEVER had to sign when making a purchase. I actually lend my debit card to the kids all the time for that very reason. Do you think it is different in Canada?

Speaking of Credit cards, I had a funny thing happen this morning at Canadian Tire (like a Home Depot). I went to the check out and handed them my Visa. The girl looked at the card, which the signature on the back had worn off. Before she swiped it, she asked for ID. I only had my Visa and my debit card in my pocket so I said "I don't have any ID with me, I'll use my debit instead." She then said she could not return my card without ID it was store policy. What on earth? I would have to drive 20 minutes back home to get ID. Another employee joined in and suggested they compare my sig to my the one on my debit card - which I had never signed! Me Bad! In the confusion she laid my Visa down and I immediately picked it up and stuck it in my pocket. She was really irritated and I was afraid they were going to call the cops or at least security and wrestle it away from me. I finally just made a big stink and said "Oh, forget it. This is ridiculous!" and walked out. I know they were only trying to prevent fraud, but there was no way I was leaving without my card and I had no intentions of spending 40 minutes driving back and forth.    

Debit cards in the USA are hugely different to the ones in Canada.  My Royal Bank debit card does not have a Visa or Mastercard symbol and can be used at an ATM or practically every store in Canada with the use of a PIN.  My USA debit card has a Visa symbol and is processed by the merchant exactly like a credit card but the funds are taken immediately from my checking account.

Especially in Minnesota I still can't figure out why signatures are required in some cases but not in others.  There is a huge problem in the USA with people using their debit cards when they check into a hotel as there is an authorization done to freeze the funds that may be needed.  Most people don't realize this and get upset.  They may look the same but the transactions are very different on the bank side of things.

BTW Denise - Canadian Tire is one of the stores I miss dearly and....didn't you need your driver's liscense to drive there?!? 

I wish there was a way that the bank, with authorization from the card holder, could make a debit card number only work in conjunction with a PIN.  As in, my debit card could never be run through as a credit card, but only as a debit card in which my PIN must be entered.  Since my card number was stolen, and the LP department assured me that my PIN was not compromised, which means the thieves used it as a credit card, I wondered why this isn't an option.  If there was some way to put a restriction on a particular card number, I would be all for that.  It would be a pain at places like restaurants, but I think it would be worth it to not have to go through this mess again!  I could always use a regular credit card at restaurants and places not set up for PIN entry.

From what I understand (which is very little) in Minnesota a debit card must be used as a credit card if the purchase is over $20. 

PIN pad?  What's a PIN pad?

I also think that PINs are more secure than signatures which very few merchants check (except at Canadian Tire).

aerial, here in china you need both when using your debit card. you MUST enter a pin and for purchases you need to also provide your signature! i dont see why they couldnt do that in the US?

VanMorrison

 

PIN pad?  What's a PIN pad?

I think the pin pad is that group of numbers you use to type in your pin number when you're buying somthing or withdrawing money from an ATM.

Joyce

VanMorrison

BTW Denise - Canadian Tire is one of the stores I miss dearly and....didn't you need your driver's liscense to drive there?!? 

Thanks for the clarification. As for the driver's license - hey if I'm not responsible enough to sign my cards, surely you can't expect me to carry my driver's license around. The fact of the matter is, I never even carry a purse. If I can't fit in my back pocket, I don't need it. What do women carry in those purses anyways? I think I'll start a thread and find out! 

denise m

 What do women carry in those purses anyways? I think I'll start a thread and find out! 

Now that would make for an interesting thread!

Joyce

  Debit cards in the USA are hugely different to the ones in Canada.  My Royal Bank debit card does not have a Visa or Mastercard symbol and can be used at an ATM or practically every store in Canada with the use of a PIN.  My USA debit card has a Visa symbol and is processed by the merchant exactly like a credit card but the funds are taken immediately from my checking account.

No debit cards are the same in both country but a pinned only card is not a debit card, it is actually considered an ATM card.  We have both ATM only (pinned) or Visa/MasterCard Debit Card - a combo card with pin and signature access.  In Canada, almost every merchant excepts pinned transactions so your old fashion ATM cards work great.  In the USA only ATMS, grocery and some fast foods have "pinned" point of sale access (POS) but everyone has access to Visa and MasterCard so the signature card give you more access.  But we both Canada and US have the same cards.  Canadian banks don't promote Visa or MasterCard debit cards becasue of the fraud potiential. 

Especially in Minnesota I still can't figure out why signatures are required in some cases but not in others.

MasterCard and Visa have allowed acquirers (merchants) to set floor limits that do not require a signature.  These floor limits must be approved by MasterCard or Visa and are based on the store average ticket.  That was the only way Visa/MC were able to market to fast food restaruant and some other quick pay places.

There is a huge problem in the USA with people using their debit cards when they check into a hotel as there is an authorization done to freeze the funds that may be needed.  Most people don't realize this and get upset.  They may look the same but the transactions are very different on the bank side of things.

Absolutely!!  When you use a debit card, they put a hold on your checking account for the funds or the expected funds.  When the merchant/hotel/restraunt closes the sale and goes to MC/Visa for payment then the "hold" is matched to the sale and released.  If you do not close the sale, the holds on your checking account stay there for 4-6 days before they drop off.  Sometimes people hold a room for 5 days with a debit card and the hotel will freeze 5 days worth of charges + 15% for expected overages movies/phone call/ room service etc.  If you decide when you check out to put it on a "credit card" in stead of spending your money - that hold will stay on your account until it rolls off.  I never use my debit card for hotels.

BTW Denise - Canadian Tire is one of the stores I miss dearly and....didn't you need your driver's liscense to drive there?!? 

aerial1313

I wish there was a way that the bank, with authorization from the card holder, could make a debit card number only work in conjunction with a PIN.  As in, my debit card could never be run through as a credit card, but only as a debit card in which my PIN must be entered.  Since my card number was stolen, and the LP department assured me that my PIN was not compromised, which means the thieves used it as a credit card, I wondered why this isn't an option.  If there was some way to put a restriction on a particular card number, I would be all for that.  It would be a pain at places like restaurants, but I think it would be worth it to not have to go through this mess again!  I could always use a regular credit card at restaurants and places not set up for PIN entry.

They can if they wanted, the banks it is.  They raise limits on ATM cards and allow larger POS (point of sale purchases) but the the problem is then the bank has to pay the merchant for excepting your card and the banks aren't keen on that.  Besides, Merchants don't have the tech in their stores for pinned transactions but they all have Visa/MC even in other countries. 

Visa and MasterCard came out with Debit cards using their technologies for banks which allows a combo card and you don't have to use credit you can use there own money at any mechant that excepts Visa/MC - well that was very appealing.  And usign the credit format the merchants pay the banks, so the banks make BIG MONEY on your purchases.