My ATM card is also a debit card and it is issued by
my Credit Union under MasterCard. (I also have the
PayPal card which is a debit card issued under Master
Card) I have the option of using it as a debit card at
stores (subject to the $1.00 transaction fee for ATMs)
or as a credit card (it debits the amount directly out
of my checking account) If I use it as a debit card, I
have to enter my PIN to complete the transaction (but,
ATM transactions in the USA are very expensive...my
bank charges $1.00 for foreign transactions
<transactions not made at their machines> and some
foreign machines charge up to $1.50! That means if I
make a $10 transaction, it will cost me $2.50! or 25%
of the purchase for the convenience!)
If I use the card as a credit card, all I gotta do is
sign a credit card slip! Because of this, I always use
my ATM card as a credit card and since there is no
real "credit" the transaction doesn't cost me anything
(as in interest)
Ed
web/gadget guru
http://newton.tek-ed.com (download Newton packages)
http://npds.tek-ed.com (my NPDS server and it's new
subdomain)
--- Victor Rehorst <victor_at_newtontalk.net> wrote:
>
> On Fri, 12 Apr 2002, Eric L. Strobel wrote:
>
> > on 4/12/02 3:22 PM, Peter Cameron at
> pdwc_at_sympatico.ca wrote:
> >
> > >
> > >> The concern over the "debit" reference here
> occurs when you use your ATM
> > >> card as a credit card, but without a PIN
> needed.
> > > My ATM (debit) card has no credit card
> affiliation. And a PIN must be
> > > used for ALL transactions.
> > >
> >
> > Yes, but ATM cards and Debit cards are two
> different things. An ATM card is
> > for use at ATMs, a debit card is the "just like a
> check" card that gets used
> > in stores. Sometimes a debit card can get put out
> by the same folks that
>
> In Canada, they are one and the same. Your ATM card
> issued by your bank
> is used at a debit machine at a store, where you pay
> instantly with money
> in your checking or savings account.
>
> > Anyway, the point is that, while you need a PIN
> for the ATM card, Money
> > Magazine and other such sources are always warning
> folks that the "just like
> > a check" debit cards have NO mandated protection
> and you could lose your
> > entire bank account without recourse. It is a
> nice feature that it sounds
>
> Oh, and in Canada when you "debit" at a store, you
> do need to use your
> PIN.
=====
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