The banking system is starting to scare me!

[WDW LOVR]

Our debit card has a $200 cash per day ATM limit and $2000/day when used for purchases.

One time we had some trouble using our debit card to pay for the room balance at Ft Wilderness (it was ~$1500 balance). The nice CM handed me the phone and I called our bank. They declined it because I had stopped at the ATM that morning on the way to Disney to get some cash and 4 hours later was trying to use it in Orlando (~1000 miles from home). That was one of their markers for fraud.

While it was kind of embarassing to go through, I appreciated the bank looking out for theirs and my interests. Even though I'm not liable (the bank is) if someone steals my money (through purchases, I'm liable if they clean the account out through ATM's) who do you think is going to pay for it in the long run? Us because the bank will increase fee's, pay less interest, etc to make up for the loss.

Which all leads me to another gripe. With all the people complaining about energy prices, why doesn't the same anger go towards banks? The same day Exxon announced their record third quarter profits, Citibank announced a 5 or so billion 3rd qtr profit and no one says a thing. What does Citibank have to do to make that kind of money? Charge outrageous interest rates on credit cards. I realize the smart thing to do is to pay off a CC each month and it's not an issue, but if you really want to do something for the little guys financies, lower the interest rate on CC's. I would venture that would be a lot bigger help than an additional $50 a month in energy costs.

 

[mickeyfan2]

I do have to carry cash when we want to make big purchases (computer). But do you want to carry around, say $1500? I'd rather carry cards. If my purse gets snatched, I can make a two second phone call to cancel the card, but if the cash is taken, it's just gone.

Yes I carry CREDIT cards. They are far safer than DEBIT cards. I was binge sarcastic when I said to cash your check. I was pointing out that was the way to have the most control over you money (since your bank does not seem to meet your standard). I would never make a big purchase with cash or a debit card. If you have a problem, you can work with the credit card company to get it resolved BEFORE your cash is gone.

 

[Marseeya]

Yes I carry CREDIT cards. They are far safer than DEBIT cards. I was binge sarcastic when I said to cash your check. I was pointing out that was the way to have the most control over you money (since your bank does not seem to meet your standard). I would never make a big purchase with cash or a debit card. If you have a problem, you can work with the credit card company to get it resolved BEFORE your cash is gone.

And sarcasm is necessary because?

 

[mickeyfan2]

And sarcasm is necessary because?

It is a good way to make a point. But I guess it did not work here, so I guess I should not have used it.

 

[ducklite]

Credit cards also have Fraud Protection programs. Citibank freezes my card whenever they detect "unusual" activity, which means every time our room keys at Disney charge out, even though the credit limit is 10 times the resort limit. It did catch me by surprise the first time. All I had to do was call Citibank and it was taken care of...now that I know the drill, it doesn't bother me. I'd much rather have them temporarily freeze the account tha have someone run up tons of bogus charges, even if I would technically be liable for the charges..the hassle of correcting the problem is worth the inconvenience of verification.

Disney will also freeze room charges if you reach your resort limit. You can dial Operator from ANY in house WDW phone to charge out and renew key.

FYI, Call before you leave and tell them you'll be at WDW (or whereever you are going on vacation) and they will note the account so this doesn't happen.

Anne