Debit Card Conundrum: Why the Fee Difference?

[Pengwuino]

Ok I am confused. I am sure some of you have noticed this> When you have a debit card and you pay with debit, at many places your charged a $.25-$1.50 charge but there is no charge when you use your debit/atm card as a credit card. Obviously, something seems wrong... Why isn't there a charge if you use it as a credit card and how can you really use it as a credit card when its a debit/atm card and there's mone in your account.

 

[SOS2008]

Ok I am confused. I am sure some of you have noticed this> When you have a debit card and you pay with debit, at many places your charged a $.25-$1.50 charge but there is no charge when you use your debit/atm card as a credit card. Obviously, something seems wrong... Why isn't there a charge if you use it as a credit card and how can you really use it as a credit card when its a debit/atm card and there's mone in your account.

This is dependent on many things, such as what bank you bank with, what type of account you have, etc. I am only charged a fee if I withdraw cash through a bank other than my own. Since businesses are charged a fee from the bank for processing your charge when you use your card as a credit card, they usually have a minimum purchase amount to ensure they are covering that cost to them. One difference is that the debit will be deducted from your account more quickly then when you use it as a credit card.

 

[chroot]

The debit system is managed by a consortium of the banks themselves, while the credit system is managed by an independent company (e.g. Visa, MasterCard). They simply have different rules. Your check-card is registered with both systems, and you can choose which you'd like to use at purchase-time.

- Warren

 

[DaveC426913]

I refuse and/or cancel any purchase where they attempt to charge me for the privilege of using my own money.

 

[JasonRox]

I love my credit card.

 

[JasonRox]

I refuse and/or cancel any purchase where they attempt to charge me for the privilege of using my own money.

Um... you are using bank services to get your money. Therefore, YOU MUST PAY FOR THE SERVICES!

What you just said makes NO sense at all.

 

[Evo]

Um... you are using bank services to get your money. Therefore, YOU MUST PAY FOR THE SERVICES!

What you just said makes NO sense at all.

Remember Dave, it's not cash, the place has to go to an extra effort to get the money. Most places do not add an additional fee if you are making a purchase, I've only encountered the fees if I want to receive cash without making a purchase.

So if they were adding a fee onto a purchase, refusing to make the purchase would be a reasonable way of protesting.

 

[Pengwuino]

The fees are widespread in the food-service industry. Only 1 or 2 major fast food chains don't charge you for using the ATM.

@Dave

Remmember though you are also being given the privilage of having a space to safely keep your money and the infrastructure to have that must be payed for some how so its not 'unfair' to charge you for that.