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Additional Details
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Additional Details
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hi | A visa debit card? |
i was curious.. when you buy something online with a card, it says enter card number. After you have entered it wouldn't the seller be able to steal all the money in your card instead of taking just the amount you're paying for?
Additional Details
I'm not familiar with cards of any sort |
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Peter S
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The way a debit card works is that it attaches itself to your bank's checking account. In contrast, a credit card is a line of 'credit' established by a bank in which you can 'borrow' from at the set amount (ie credit limit of $xxx).
With a debit card you can never use it for more than you have in your checking account and the money is withdrawn imediately, as opposed to you making payments each month.
The other major difference is that debit cards are NOT reported to any of the financial bureaus (ie, your credit rating). Using a debit card will never effect your credit score in any way.
As for online shopping - it is the same as if you went to the store. What would stop the sales clerk from punching in $800 instead of $80? Purchase online and you get a receipt, the fine print will show that you are agreeing to pay THAT amount. So if you have a receipt showing an $80 purchase and then you get a bill for $800 you can dispute the charge (unless more fine print shows 'hidden charges').
You do need to be a little more careful shopping online then you might need to shopping at your local store because of the anymosity of the online store versus being able to look the clerk in the eye. But most online stores have a reputation of some sort and most will happily display it. Should you really be in question of a company, you could always check w/ the BBB (Better Business Bureau) to see if the online store in question has any ratings with them. |
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The one with a tail...
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Yes, he/she COULD charge whatever for whatever, but you can simply call the credit card company to file/claim about fraudulent charges (and obviously not pay the bill), and the credit card company takes it from there (legal crap against the company, etc... not your worry). Other than identity theft, you're pretty much covered. |
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Just here.
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LYSSA IS RIGHT! |
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jamesPurple
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Well...it would be fraud. Merchants have to put some money in collateral and they'll lose the money if they fraud clients.
Credit card : you owe the balance.
Debit (or prepaid or secured) card : you deposit some money on the card before using it. You never borrow any money. |
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Ya-sai
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I guess it works in the same way you buy things in the store with your CC. The money you write and sign under is the amount they get paid. Easily traced if there's a 'thief' about. |
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Lyssa
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You have to read the long, but informative privacy policy they have for that website, you just have to trust them. Make sure you read and understand it, if not email them about it, they'll probably get back to you pretty quick.
It's pretty much the same as buying in the store except no lines and you have to wait for it or pick it up. |
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just me
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they can, but if they do you file an affidavit of forgery and wait to get your money back and they get in Trouble |
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Jan O
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Sellers are motivated not to defraud you because they would lose their ability to process credit cards of any sort if they did that. Usually, the short term gain of a few bucks isn't worth the long term pain of having to close down.
That said, a debit card does carry the risk of someone briefly emptying out your account. But as a previous poster said, you can get your money back.
A bigger risk in online transactions is that the web store you're using gets hacked and a third party then places fraudulent charges on your card - debit or otherwise.
There are some 10 million cases of identity theft in the US each year. See reference for information about protecting your identity. |
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