Re: Wells Fargo vs. B.o.A.

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Article #214

#214

From: Fake ID
Date: Fri, 05 Jan 2007 09:47

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In article <ecklein-8A73D0.11432204012007@news.west.earthlink.net>,
Ernie Klein  <ecklein@pacbell.net> wrote:
>
>The difference: As stated before, the debit card can be used at any POS 
>(Point Of Sale) terminal by anyone knowing your pin and the only limit 
>to it's use is the balance in your account.

My understanding is that "debit card" means a card coded
so it can be used as a credit card but funds are transferred from your
bank account.  Done this way the cardholder signs like a credit card
transaction and there's no PIN involved.  Which is what makes them such
a liability--there's nothing to stop whoever is in physical posession of
the card from draining your bank account.  Only a merchant who
challenges the cardholder to produce a matching ID will be in a positon
to stop thief.

m

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Subject: Re: Wells Fargo vs. B.o.A.
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