bank sends letters to encourage use of debit card?

Question

Hi. I have a visa debit card provided by the bank, but it is extremely rare that i ever use it. It has been several months since i used it last. The reason i stopped using is because last year i purchased a 12 ounce for $2.56 using the debit card, but didn't know that i had no funds in account (the employer delayed the start of direct deposit by 1 week). And then i was fined $33. So the 12 ounce coffee cost me $35.56 altogether! After that i never used the debit card again, and only used credit card thereafter. But now the bank sends frequent letters to encourage use of debit card and that if i use debit card, i will be pre-approved for some other deals offered by bank. So should i start using debit card again?

Answer 1

It costs a bank aproximately 3 cents to process a debt card transaction as opposed to a check which costs aproximatley 12 cents to process...that is a 4 factor differance in cost. So it is worth it for them to have you use your debit card as opposed to checks.

Also, some banks have a policy that if you don't use your debit card at least once they cancel or deactivate it to prevent fraud on your account via your debit card...so it is a good idea to use it once in a while just to keep the card active. I would always have a customer or two that would come in and inform me that their debit card wouldn't work and they were out of checks and they don't understand what is going on...always it was that they haven't used their debit card, so the bank had deactivated the card for the customers safety...meaning that when the customer really needed it they couldn't use it. So use it once in a while.

Answer 2

She needs help which everyone has stated. I've learned that life is too short to hold grudges. Something can happen to you anytime and this whole thing could change. Good to see you taking over in that I see you as a very responsible caring good guy. Forgive your sister and just let her know that you are there for her. Perhaps you can't help her financially but just being there for a person is so important and valued. I know this from experience. I know that I have a sister that had issues. Nobody wanted her around. When I went through my thing (you know what I'm talking about) this sister reached out to me like nobody else. We are incredibly close right now and I can't imagine life without her. Because of the years that she had been pretty much shunned by everyone she was bitter towards the family. Me now knowing what a wonderful person she is and how important she has become in my life, I have made sure that when things are going on with the family that she's included and I won't allow people to bad mouth her. She is who she is but it took years for someone to finally look at her heart and see that she was a really good person. Look at your sister this way and she might surprise you.

Answer 3

I stay away from debit cards....good luck trying to get a refund using a debit card. The banks are quick to take out that money, buy are sure slow putting it back in!!

Answer 4

I will chose to use a credit card for most transactions, and for small ticket items, will use my ATM card instead. Debit cards to me are essentially like ATM cards, and there's no other benefit for me as a consumer (like points for instance). You will also avoid the above situation with credit cards (and can even request for fee waiver and waiver of late payment charges if you pay your bills on time too).

Answer 5

I wouldn't. I hate debit cards and only have one for use at ATM -- which I don't really use either.

I'm not sure what the advantage is to the bank. Perhaps they collect merchant fees or maybe they just hope to get more overdraft fees.

Unless the deal is something really good that you really want, stick with your credit card.

Answer 6

unless you pay your CC in full at the end of the month, use ATM, unless it a big ticket item, then you want the protection offered by the CCs