onuris

I've not as much experience with those, but I understand that it's harder to do a chargeback in such cases.

Basically, instead of hooking you up to an ATM system like Cirrus, Star, Plus!, etc, the bank hooks up to a VISA/MC processing gateway. That allows the card to work at any retail store and also any internet site that takes VISA/MC. But the botttom line is that funds is transferred out of your bank account soon as you make a purchase. Compare this instead to say a true credit card, where the CC company has yet to get any money from you. And so to protect themselves, they almost always have a rolling reserve % against a vendor, just for such chargeback/fraud/etc cases. They won't have to twist any arms to get money back from the vendor.

In short, a visa-linked debit card does not give you the same protection as a true visa credit card. It's up to the bank to make up for this lack of protection. Some banks will, some may not go as far. Chargebacks done this way are trickier, requiring more dogwork by the bank. And I wouldn't be surprised if sometimes the bank eats the loss themselves. If your friend will help you out, then you're set (I'd buy him a 6-pack).

ALso, I'd get a proper credit card asap and keep the debit card at home. You can always request a low credit limit on the card, just to keep things under control. I use a tightly monitored CC for my internet purchases.

0cean

The debit card has been nice because I don't have to worry about interest or paying a bill before a grace period ends. The money is taken directly out of my account within 1-3 days. Its like cash and carry.

Debit cards have worked well in the past for everyday purchases, but I think I will get a Credit Card for Internet purchases to help protect my self.

Thanks for the information.

TT Karl

I work for a retailer and we get a few inquiries from banks on debit cards. We get many more people who call and say their bank won't do anything about it.

I do agree with your initial point of it being fraud. They shouldn't charge you until the items ship.

Try the chargeback route, if you can. It ding's the merchant's record if they have too many. Their discount rate can be raised or their processor can drop them.

Hope you get your funds back without too much trouble.