ATM ?... How logical is this?

[B'rer Karen]

Originally posted by renessa
I love all of the Bank One talk....I work for them!!! Just an FYI, if your card becomes lost or stolen and you notify the bank ASAP (there is a specific time frame, but I don't have it here at home) then the most you would ever be charged is $50, not quite the free for all that some make it sound like. My question is will Chase become the new official bank of WDW in 2005 when all the Bank One Retail locations begin the slow transition to Chase? What about the Disney Visa? I haven't seen any "official" word as to WDW!

I understand that the most you would be liable for is $50.00, but let's just say that you lost your card and reported it missing 2 hours later. In that two hours purchases in the amount of $500.00 have been made on your debit card. Would Bank One immediately credit your account back for $500.00? When I lost my card (not issued by Bank One), I eventually got every dime that was stolen back. However I had to fill out some forms, then the bank had to investigate. About a month later I was provisionally credited back the money, but was also told that the investigation was still ongoing and if it was determined that I should not receive this money, they'd take it back. They also stated that this determination would be made no longer than 90 days after the original incident.

Maybe other banks do it differently, but if my experience is indicative of how most banks handle this situation, while you'll eventually get your money back, you will be out of pocket that money in the short term. And if the debit charges took most of your money from your checking account, you may have no money during that time frame. If the same situation happened with a credit card, that $500.00 charge would just sit on your credit card. You wouldn't pay the CC company anything while they were doing their investigation, so you would hang on to your cash.

 

[prncess674]

Originally posted by AllyandJack
Can you use the Disney Visa at the ATM? That would be great. No fees. Disney points. Keep my money in my back and then pay the bill the next month. I know there would always be the temptation to say "Well....we can go over a LITTLE" and then end up maxing out the Disney Visa, but I suppose if you're careful, you can budget an amount to take out every day as if it were coming out of your own account and then pay the bill the next month after you've racked up the Disney points.

Just a thought. I don't remember if I got a PIN for my card. Does anyone know if this is possible??

Using your Disney Visa in a cash machine would count as a cash advance which has costly fees. You also start accruing interest from day one on any cash advances. Unless it is absolutely necessary do not use a credit card for money from an ATM.

Your Disney Visa (or any Visa/MC/AMEX) is widely accepted at all ticket counters, restaurants, quick service places, etc. These purchases are all treated as regular purchases an incur no other fee and as long as you pay off you card by the due date then you will incur no interest or penalty charges. You will also earn Disney reward points.

You also would not earn Disney reward points for cash advances taken from a cash machine if you read the fine print of the T&C.

 

[prncess674]

Originally posted by B'rer Karen
Just a word of warning, be very, very careful not to lose your debit card. I personally do not take mine on vacation for fear of losing it. If you lose your credit card, you can dispute any charges that show up. If you lose your debit card, if someone makes purchases, that money is gone out of your account. If you're lucky (like I was) the bank will refund your money after you go through the process of reporting the theft, but you're out of pocket that money in the mean time.


It is safer than just carrying cash though.

If you are worried about someone using your debit card then go to your local branch office and ask them to issue you an ATM card only (does not have the MC/VISA logo on it). The only way to use this card is with the appropriate PIN. so even if lost or stolen they wouldn't have access to your funds. I would never leave home without my ATM card. I am more afraid of someone pickpocketing me for my cash rather than my credit cards. Also if you are worried about theft try just leaving a minimal amount in your checking account prior to leaving so you have access to some cash via ATMs

 

[crazywig]

on our 2001 trip before we were married i didn't bring much cash, figuring i'd use the atm machines.

my card would not work in ANY of them! after a few days i had no cash and had to rely on dh (bf at the time) for pocket money.

we rely mostly on cc's now (for air miles!)

 

[B'rer Karen]

Originally posted by prncess674
If you are worried about someone using your debit card then go to your local branch office and ask them to issue you an ATM card only (does not have the MC/VISA logo on it). The only way to use this card is with the appropriate PIN. so even if lost or stolen they wouldn't have access to your funds. I would never leave home without my ATM card. I am more afraid of someone pickpocketing me for my cash rather than my credit cards. Also if you are worried about theft try just leaving a minimal amount in your checking account prior to leaving so you have access to some cash via ATMs

This is a great point. I personally like having a debit card, but I know a lot of people who only use it for ATM purposes, so it would be better to make it an ATM only card in that case.

 

[prncess674]

Originally posted by B'rer Karen
This is a great point. I personally like having a debit card, but I know a lot of people who only use it for ATM purposes, so it would be better to make it an ATM only card in that case.

Personally I try to use my mileage earning credit card for everything. I know many people are proud of themselves for using only cash on a vacation but earning using a mileage earning credit card is an easy way to earn FREE VACATIONS. I have enough self control to charge everything on a daily basis and then pay off my CC each pay period. I have enough miles in my United Airlines account now for tow First Class seats to Sydney, Austraila, for doing nothing but buying things I would have anyway.