Had my account frozen with no texts, calls or emails. Went to the gas station and found out when I was declined for the card not working. Called my bank and they said fraud protection shut down my card because I had a suspicious transaction. I had $3 and some odd cents come back to my card as a return 🤡
I don't know about the United States, but in Europe almost no one uses credit cards, and debit cards have the same insurance. There is no such thing as points and merchants pay about 0.15% in commission on terminals, no fixed monthly or per transaction fees.
So does here in India...USA is pretty backwards in banking...plus we also havd gov insurance in accounts...also a guarantee if the stolen money isn't recovered by bank in 7 days ..after reporting of the crime...we get interest on the money
@@beyondborderfilms4352 Yup, only debit. In fact even applying for credit cards is seen unfavorably when applying for things like loans. Because the only reason you might need it is if you don't have a stable financial situation
@@Chunwun-u2o have you ever had an instance of a bank not returning your money from a debit card? I haven’t. But personally I carry a debit and business credit in my wallet. But I prefer to use my phone for payment for security.
@@mousejackson2523 yea I'm pretty sure all banks do unless u have one of those new age online banks like chime current or cash app. Or if u use a check cashing place to pre load your money. Otherwise regular banks and credit unions reimburse fraudulent charges. Most within a few days as a credit while they do an investigation. Money is insured upto 250k. So they gone give u yo money back. I too use Samsung or Google pay for security but also because I'm prone to losing my wallet or just leaving it behind. So that way ik where it's at at and I don't stress myself.
In Australia banks have to give your money back on fraudulent transactions as long as you didn’t contribute to the fraud like having your account open on a public computer or having your password your name
Bank when your debit card is stolen: wow that’s terrible. We’ll look at it eventually, you can just sit in the waiting room Bank when your credit card is stolen: *loading guns* so do you have anything that could help us with the investigation?
It's not only about greed, they think they own our maney if you put any in their 'protection'. They owe us our money, yet we can't take out all of our money from them Their logic is twisted, they made crazy system that has somehow become main principles in their procedures globally.
Banks do give you your money back and in fact think they have to by law. However banks take way longer and their “investigation” takes forever with so many questions. Credit card all you do is call let them know they handle the rest. Great thing don’t carry much money in my bank account. I can stop the card from being used on my phone from the bank app. So in the modern era much easier to keep my bank card and credit card safe.
Half truths. You will usually run into an issue getting your money back if the transaction is pin based. If it is credit based, my debit card has the same protections as my credit cards. SMH
Side note bank; I watched the thief’s transaction history followed him and took his life! 🤣 won’t be happening again you got yourself a personal hit man ❤️ yours truly an angry customer
As someone who works for a financial institution this information is wrong. There are regulations for financial institutions to follow when it comes to any disputes and fraud. And it’s not this cut and dry.
Banker here. This is misleading.. Credit cards generally have additional fraud and purchase insurances which are part of why you typically pay an annual fee, often in the hundreds of dollars, and is part of the incentive of purchasing these interest bearing products.
İ don't think it's work like that there was a scamer use my debit to buy shirts or subscriptions I noticed 6month later I told bank they just ask me which ones scam I choose like 20+ and 2 week later my money was back and I'm not even american or have credit card.
It depends on the bank. Some banks offer amazing protection when it comes to debit cards. Some give minimal required by law for debit and credit alike (liability up to 50$ when reported within 2 days, up to 500$ when reported up to 60 days) The only reason why banks will sometimes offer better protection on credit cards is because credit cards are a trap that can be very profitable if someone falls into it - and many people do. That's also why in Europe we dont use credit cards - they are a way to trap people in endless cycle of debt and interest and the things like points or better protection are only lures that make the system exploit millions. Good job on spreading banks manipulation!
From a quick Google it seems like many Europeans do use credit cards but it seems less prevalent than in the US and Canada, but I'm just going off Google. Either way good on Europeans for (hopefully) not having a cash advance/payday loan spot on every other corner in many major cities. Those places ruin folks ESPECIALLY low income and financially uniformed folks. I've literally seen rates over 100% just personally. It's such a predatory business.
@@KameoKit6963 We do have it but we also have a law that requires companies to post a yearly interest whenever any kind of loan is advertised (including fees - RRSO) in any way - so we can compare loans easily
@ImSizo in today's time, it also shouldn't take you more than 5 min to move your money from checking to savings while you're trying to find your card ( don't allow overdraft)
I know this isn’t related but I want to share my happiness with everyone I am so proud of my self for learning 8 grade algebra by 11 learning fluent English by 8 learning guitar and become good at sports like hockey ski and surfing I wanna be a pilot and I hope random strangers on the internet will support me 😊
Never been told I couldn't have my money back on a fraudulent charge on my debit card
Gonna depend on your financial institution. I'll trust bankers to be bankers though - they'll weasel out of what they can.
Only time u should be using a debit card is when ur pulling money out of atm. 😂
Had my account frozen with no texts, calls or emails. Went to the gas station and found out when I was declined for the card not working. Called my bank and they said fraud protection shut down my card because I had a suspicious transaction. I had $3 and some odd cents come back to my card as a return 🤡
True, i got my money back
depends
Most banks have the same protection on debit cards as they do on credit cards.
Jeez I hope I can get paid back for the fraudulent Lamborghini that was purchased two business days ago.
LoL
I don't know about the United States, but in Europe almost no one uses credit cards, and debit cards have the same insurance. There is no such thing as points and merchants pay about 0.15% in commission on terminals, no fixed monthly or per transaction fees.
So do they use debit cards instead to pay for stuff.
So does here in India...USA is pretty backwards in banking...plus we also havd gov insurance in accounts...also a guarantee if the stolen money isn't recovered by bank in 7 days ..after reporting of the crime...we get interest on the money
@@arjunarora3850yes
@@beyondborderfilms4352 Yup, only debit. In fact even applying for credit cards is seen unfavorably when applying for things like loans. Because the only reason you might need it is if you don't have a stable financial situation
@@beyondborderfilms4352yes
And this one short proves why it’s best to have a debit card on your phone for Samsung or Apple Pay but carry actual credit cards in your wallet.
False. Both visa and Mastercard have zero liability debit card policies.
@@mousejackson2523 true as that may be, it still feels easier to know your hard earned money isn’t directly being stolen.
@@Chunwun-u2o have you ever had an instance of a bank not returning your money from a debit card? I haven’t. But personally I carry a debit and business credit in my wallet. But I prefer to use my phone for payment for security.
@@mousejackson2523 yea I'm pretty sure all banks do unless u have one of those new age online banks like chime current or cash app. Or if u use a check cashing place to pre load your money. Otherwise regular banks and credit unions reimburse fraudulent charges. Most within a few days as a credit while they do an investigation. Money is insured upto 250k. So they gone give u yo money back.
I too use Samsung or Google pay for security but also because I'm prone to losing my wallet or just leaving it behind. So that way ik where it's at at and I don't stress myself.
"In that case, please close my account. I'll take my money elsewhere."
"Oh, wait, I suddenly see that $300 back in your account."
In Australia banks have to give your money back on fraudulent transactions as long as you didn’t contribute to the fraud like having your account open on a public computer or having your password your name
Bank when your debit card is stolen: wow that’s terrible. We’ll look at it eventually, you can just sit in the waiting room
Bank when your credit card is stolen: *loading guns* so do you have anything that could help us with the investigation?
My advice, never get a credit card.
😂😂😂
Dont use your money. Use credit.
Because America is doing so well debt wise.... FQ OFF
It’s backed by visa and Mastercard so this isn’t true. The fraud liability works off visa and Mastercard not the bank
Exactly wich also offer the same protection as on their debit cards
Always use cash or CC at gas stations. Got my car info stolen and had to cancel it
Banks all are greedy ❤
It's not only about greed, they think they own our maney if you put any in their 'protection'. They owe us our money, yet we can't take out all of our money from them Their logic is twisted, they made crazy system that has somehow become main principles in their procedures globally.
Another reason why I lock my debit card if I'm not using it. Steal it. Try to use it. Have fun.
The part where he said ‘in full’ cut off so…
Love the part it explains how to reliabily use a credit card
You have to be able to pay your credit card in full every month without possibility to not be able to pay
Banks do give you your money back and in fact think they have to by law. However banks take way longer and their “investigation” takes forever with so many questions. Credit card all you do is call let them know they handle the rest. Great thing don’t carry much money in my bank account. I can stop the card from being used on my phone from the bank app. So in the modern era much easier to keep my bank card and credit card safe.
Lets also mention how it develops your credit score, which is so useful when buying houses, cars, or even taking out a loan in general!
And typically you get rewards
Why would someone lose their wallet and report it a week later with all the cards in it?
Half truths. You will usually run into an issue getting your money back if the transaction is pin based. If it is credit based, my debit card has the same protections as my credit cards. SMH
My Amex platinum card is the best protection I’ve ever had
Side note bank; I watched the thief’s transaction history followed him and took his life! 🤣 won’t be happening again you got yourself a personal hit man ❤️ yours truly an angry customer
As someone who works for a financial institution this information is wrong. There are regulations for financial institutions to follow when it comes to any disputes and fraud. And it’s not this cut and dry.
Banker here. This is misleading.. Credit cards generally have additional fraud and purchase insurances which are part of why you typically pay an annual fee, often in the hundreds of dollars, and is part of the incentive of purchasing these interest bearing products.
Have you not heard of the FDIC they do insure debit cards also and almost every debit card is covered
İ don't think it's work like that there was a scamer use my debit to buy shirts or subscriptions I noticed 6month later I told bank they just ask me which ones scam I choose like 20+ and 2 week later my money was back and I'm not even american or have credit card.
Well you cant even use debit card if you didn't know the pass
It depends on the bank. Some banks offer amazing protection when it comes to debit cards. Some give minimal required by law for debit and credit alike (liability up to 50$ when reported within 2 days, up to 500$ when reported up to 60 days)
The only reason why banks will sometimes offer better protection on credit cards is because credit cards are a trap that can be very profitable if someone falls into it - and many people do. That's also why in Europe we dont use credit cards - they are a way to trap people in endless cycle of debt and interest and the things like points or better protection are only lures that make the system exploit millions.
Good job on spreading banks manipulation!
From a quick Google it seems like many Europeans do use credit cards but it seems less prevalent than in the US and Canada, but I'm just going off Google.
Either way good on Europeans for (hopefully) not having a cash advance/payday loan spot on every other corner in many major cities. Those places ruin folks ESPECIALLY low income and financially uniformed folks. I've literally seen rates over 100% just personally. It's such a predatory business.
@@KameoKit6963 We do have it but we also have a law that requires companies to post a yearly interest whenever any kind of loan is advertised (including fees - RRSO) in any way - so we can compare loans easily
That is not true. Visa, the biggest card processing company, has a guarantee that is the same for both credit cards and debit cards.😊
"And I don't like them" is valid reason for return?
Is that "return protection" only good for 2 months or can it be even longer? What's the longest?
Actually God said that we shouldn't use money that we don't pay it the time
Yeah but if you're de-frauded and authorize the transaction with a verification, you're screwed.
Any adults that didn’t know that failed 8th grade civics
This is so true lol
Tell that to Chase
"And in"
And in what? And in WHAT!?!?!
Full
False.
My debit was stolen and bank gave me that money so fast. They literally didn't even care. I cared more about who tf was the theif
Get your friens to steal your wallet with credit card and boom, fraud n stuff
Common punchmade dev W
Haram
I couldn’t get my money back😢
Don't you need a pin to use a debit card? ..... but yes you should report it faster than 2 days
Just over a certain amount of money or if you've done a lot of purchases in a short timeframe
isnt contactless a thing?
I can process mine as credit w/o a pin.
U don’t online or restaurants or tap pay
@ImSizo in today's time, it also shouldn't take you more than 5 min to move your money from checking to savings while you're trying to find your card ( don't allow overdraft)
For people who don't know, a business day is 8 hours. So you have to report it within 16 hours.
This is false
I know this isn’t related but I want to share my happiness with everyone I am so proud of my self for learning 8 grade algebra by 11 learning fluent English by 8 learning guitar and become good at sports like hockey ski and surfing I wanna be a pilot and I hope random strangers on the internet will support me 😊
No one asked
BRO I'M 10 WHY IS THIS 9N MY FEED
Never too early dawg lmao
That's good. Watch more of this instead of brain rot, and you will be on the right path for when your older
@@Jebb_dasheep ok
You aren't even old enough for UA-cam lmao
Seen so many people spiral into debt with credit cards
First
Make your skits shorter and get to the point faster. You keep getting cut off mid sentence.