4 ms·

Yes, with a debit card in North America that is certainly true. Because banks are shit here.

• gruez 3y ago
  Not really, because most banks have zero liability policies even though the law doesn't mandate it[1]. That said, the susceptibility to fraud is a fundamental problem with debit cards. When the card gets charged, it's your money that's taken out (or at least put on hold). On a credit card, it's the bank's money. That's an important difference, because even if you get reimbursed for it at the end, you're still without money during the time it takes for your bank to reimburse you. With a credit card you have a few weeks from when the statement is issued to pay. [1] https://usa.visa.com/pay-with-visa/visa-chip-technology-consumers/zero-liability-policy.html https://usa.visa.com/pay-with-visa/visa-chip-technology-cons...
  • TheRealPomax 3y ago
    > most banks have zero liability policies even though the law doesn't mandate it how is that "not really"? That's "yeah, because"
    • hunter2_ 3y ago
      Saying "banks are shit here because they have zero liability policies" isn't too sensical. Saying "banks are not really shit here because they have zero liability policies" makes decent sense.
      • TheRealPomax 3y ago
        banks are shit here because they are not required by law to have liability policies. Just because the laws aren't in place doesn't magically make the banks fine, it makes them shit, while being legally compliant.
  • croutonwagon 3y ago
    Thats exactly why we are structured that way. Especially for our primary accounts. Its also why we use 3 banks. So if for some reason 1 bank had some type of incident or the accounts do, we have 2 other options with cash reserves. Though that has not happened to OUR accounts, we have had incidents at our banks (they just didnt affect our account balances)