and how to avoid them and have
GOOD GREEN ENERGY FLOW
BOTTOM OF PAGE: The DANGEROUS DECEPTION of CHECKING DEBIT CARDS
ADDENUM July 14, 2006
CHECK YOUR CHECKING STATEMENT!!!!
You can get ripped off directly and not even know it.
I just discovered two debits DIRECTLY out of my Checking Account- fraudulent withdrawals, paid to Sears, two separate dates.
I did not make any purchase at Sears on these dates.
What happened? I did a Google Search- "unauthorized withdrawal from Sears" and came up with another person having the same experience. Someone else was paying off their Sears charge account by fraudulently using another persons Checking Card number.
Looks like the same thing happened to me.
I will have to go to my bank, stop my Checking Card number, and perhaps even close my checking account. Sears knows NOTHING about it- so they claim.
This is also from another web page;
"Debit card thieves get around PIN obstacle"
You are likely being ripped off and overcharged for services that every person should be screaming about. Yet, we have become as placid as cows and sheep going to slaughter.
If you are like most Americans, the logical part of your brain in the financial section of your neural networks is DORMANT and ASLEEP.
Think about this for a second- Your bank LOVES it when you make banking errors because every mistake you make results in fees for which you are charged. It's additional money the bank takes from you, at great profit to the bank; Millions upon millions of dollars of additional profit for the banking industry.
Further, most Americans use banking services that increase the likely hood that they will make checking account and saving account errors. Often, we also pay additionally for these services.
When you get ripped off by manipulative banking advertising and practice, your brain is unhappy. Fight back with
WHOLE BRAIN BANKING INTELLIGENCE.
Our story begins here.....
The biggest news these days in banking is
Banks are modeling themselves after the McDonalds Chains of fast food restaurants, first by offering branch banking on every corner. This is an attractive way to get customers- simply by being in customer's faces at every turn, the bank gives the illusion of being a NEIGHBOR, and community friend. Omnipresence with nice shiny stores. "We are everywhere you are, and we are good neighbors."
That's the first hook.
Once inside the bank, they sell their services: MODERN MONEY CONVENIENCES like
ONLINE BANKING and BILLPAY and VISA Check Cards and ATM Cards are just like the junk food you see on a fast food restaurant menu. Look at all those greasy GOODIES! Yummy!
Here is where the big corporate lie begins.
The LIE is that NONE OF THESE SERVICES take the place of simply and dependably keeping track of your expenses and deposits in either a plain written register or in decent computer software.
Read this FACT again until it is BURNED INTO YOUR BRAIN:
ONLINE BANKING and BILLPAY and VISA Check Cards and ATM Cards just like the junk food you see on a fast food restaurant menu.
The LIE is that NONE OF THESE SERVICES take the place of keeping track of your expenses and deposits in either a plain written register or in decent computer software.
None of these services are in the end as simple and as dependable as keeping sufficient cash in your pocket for smaller planned purchases, using a credit card for larger purchases, and writing checks when necessary and keeping an ongoing log in a register or computer software.
You will never be told this by a banker selling you their "convenient banking features", because knowing this one fact will reduce or eliminate your tendency towards using their "convenience features" which are laden with possibilities for error. Stop using the bank's junk services, and you will reduce profits for the bank. "Quiet....shhhhhhhhhh!"
They are most interested, above all, in getting you to take the bait and bite the
You wouldn't know it from the 8 FOOT HIGH billboard inside the bank telling you that "ONLINE BANKING LETS YOU DO ALL YOUR BANKING CONVENIENTLY and ACCURATELY".
This is a Total misleading lie.
It fools millions of people every year who think online banking is a great invention and convenience.
You cannot rely on Online Banking for FULL and accurate account information. It is incomplete, and will never show outstanding payments you have made, and thus can be devastatingly inaccurate and can lead to horrendous overdrafts.
The same can be said of Auto pay and Bill Pay services which require additional yet absolutely necessary efforts in record keeping.
Similar services promise to make your banking "convenient and easy" as well.
All of these modern "conveniences" also make it MUCH MORE LIKELY and CONVENIENT THAT YOU WILL MAKE A BANKING ERROR.
Another example: FREE ATM CARDS!!! FREE CHECKING CARDS!!!
The bank will issue you a "fake" Visa checking debit card, allow you to pay for an item, then delay "posting" the item several days, and if a conflicting check posts the same "postponed posting" day (often 3 or more days later), you will be charged if you go over your balance, even though you used the card on a day you actually had money in your account. Yep.
Use the card like an ATM card, and many banks will charge you an additional fee in addition to your purchase.
And who on earth keeps a written record of every ATM withdrawal or debit card purchase? Too easy to miss, even when you don't mean to.
The banks have made every conceivable way possible for you to "get" money out of the bank- at least temporarily. But they have not increase one method of keeping accurate track of your actual finances- i.e. a up to date true and accurate written record of everything you have spent. So, they have made it so many more ways possible for you to make an error, and thus generate INSUFFICIENT FUND PENALTIES.
They are also VERY happy to cover a limited number of your overdrawn written checks. Gee, AREN'T THEY NICE? Oh yeah, they make an extra $33 every time they do this. And if you don't pay them back they will ruin your life and hound you in every possible way until you ante up.
The Banks know all of this. They are VERY aware.
They also know that they are not at risk when you make a simple error.
But they know how profitable it will be for the bank.
Do you think for a second that banks would issue such cards and services if it did not meet their primary criteria: i.e. make more profit for the bank at little or no risk to the bank?
The bank NEVER pays for misleading the customers about the limitations and error prone methods they sell as conveniences available to customers.
If a customer makes a mistake- it can CASCADE into a waterfall of fees, that is impossible to stop before it's too late. Just do a Google search and see what people are going through. Ask your neighbor.
Banks make MILLIONS and TENS of MILLIONS of dollars in this way on penalty charges when you use their convenience services instead of keeping a simple register.
One check that bounces, can cause a high overdraft fee, which then causes more overdrafts, which generate more fees, which generate more overdrafts ETC ETC ETC ETC.
Before you can get caught up, you may have had HUNDREDS of dollars subtracted from your bank account, and you will have to pay all of this off, and the bank will NEVER reverse these fees. Plead as you will. "I'm sorry," the bank will tell you, "But we don't reverse the fees unless it's a bank error."
It's one of the ways banks are racking in RECORD profits from unwary customers who have made errors- lured into Online Banking, Auto Pay, Bill Pay.
We accept this, just like we've accepted the low quality of service we get everywhere from corporate big business.
All of the banking "services" being offered are not for the customer's convenience- it's for higher profits in the banking industry. The more automated your banking, the less the bank has to do, and the less people they need to have on staff, and the more profit they make-- which ultimately result in higher corporate stock prices on the stock market.
Actual personal service is not cost effective.
Instead, customers are offered THE ILLUSION of SERVICE
which is nothing more than cheap ass wholesale bulk electronic processing and all the limitations of such. This is NOT real human services or human concern. Its JUNK.
The tellers and other low rung bank employees are not any better off than the typical customer as they make just above minimum wage as they have their benefits cut each year.
The top CEOs rake it in as they drive to the country club in their new Porsche.
Yes, this sounds negative. I am sorry.
But the human brain has not changed much since we first crawled out of the mud. It's still the dog eat dog reptilian part of our brain that runs much of our modern culture.
Better honest that head in the sand ostrich with an empty pocketbook.
ALL of the corporate banks are the same. Some are worse than others. But they are all bad in the way that they manipulate customers, and overcharge extravagantly with penalties approved by their friends in congress.
All big banks have friendly looking marketing and ads with pretty girls and big smiles kissing handsome guys, maybe some rustic stage coach logos and horses, and warm friendly faces to fool you into thinking they are down home people. Romantic Banking.
Banks have done a great job in presenting themselves as YOUR BEST FRIEND.
Bankers are not doctors, artists, musicians, teachers, bus drivers, or public workers.
Bankers are not even the tellers behind the counter.
Don't be fooled. Banks have one thing on their mind.
Money. Money money money money money money money money.
Making PROFIT at your expense and risk.
THE FAIR MONEY
SOLUTION FOR YOU:
GREEN ENERGY FLOW
Concentrate on moving your green energy with YOUR REAL FRIENDS who actually care about you and who's business structure allows them to actually and truly COOPERATE with you. This is advanced frontal lobes interpersonal relationships.
We are being fooled, and cutting our own throats because we are failing to value PEOPLE and PERSONAL CARE and REAL ATTENTION. By shopping only at BIG BOX STORES we are choosing to put smaller private business who can personally attend to our REAL needs out of business.
How much do you value YOU? And you as an individual? What are you willing to pay for Personal real service and care?
This can be on the INTERNET, on the PHONE, or in PERSON.
What matters is someone is actually listening to you, and understanding and looking after your welfare. Not just how much money they can squeeze out of you.
Simple Money Brain Solution-
A MORE EFFICIENT WAY TO HANDLE
Buy at your corner market, at your corner hardware store, at your FRIEND'S place. Pay a few cents extra to deal with a REAL HUMAN with frontal lobes energy exchange- not just reptilian grab and go.
I recently moved all of my money out
of the stinking Wells Fargo bank where there were constant teller waiting lines,
and higher fees- to the smaller Liberty Savings Bank right across the street,
where there is NEVER a line to wait to see the teller. The fees are less, the
services are exactly the same, the service is far better, and my money is
insured exactly the same as at Wells Fargo Sucks You Dry Bank.
3) Keep a faithful DAILY record of your expenses in and out of any bank account. Use a written log, register, or computer software. DO NOT DO NOT DO NOT trust ANYTHING else, no online banking, no phone banking- as these are NOT ACCURATE BOOK KEEPING METHODS and in no way replace your PERSONAL WRITTEN RECORD KEEPING. Otherwise you run the high risk of getting totally screwed by your bank in penalties if you make an error. Hey, if you've got so much money and so little expenses that you don't need to keep a register, good for you. Otherwise, don't go by anything else.
4) Use your credit cards sparingly, and don't live beyond your means. Actually, I have NO CREDIT CARDS AT ALL NOW. I am FREE. Instead I use my Check Visa card to make purchases online, and when I don't have a check on me. But I am VERY careful about its' use.
Reserve credit cards for things like Brain Books and Music, and Brain Movie DVDs :-) where you need them to pay online purchases, or big purchases you don't want to write a check for. Additionally, do without crap, and do without being lured into obscene interest payments, late fees, etc-- hooked with the lure of low starting interest and easy credit. Check every credit card statement for a raise in interest rates and CLOSE your credit card account and OPT OUT of any obscene rate changes. You'll lock in your original rate this way.
Be HAPPY and FREE instead- which is PRICELESS.
5) Cut your Checking Debit Card to SHREDS. See below....
Okay, these little debit cards are necessary if you have cut up all your regular credit cards (a very good idea) and need plastic for certain purchases online, or occasional other uses. But beware, these check cards can come at risk. Read the horror story below....
What else can you think of that will put you in control of your expenses,
your green energy, your interaction with people who get your
Who will you choose to share your green energy?
A faceless corporate controlled robot entity-
Or A Human?
Back to: The Amazing Brain Music Adventure
Back to:The Library From Another Dimension
The DANGEROUS DECEPTION
OF BANK CHECKING DEBIT CARDS
Of recent times, banks have been issuing, most often WITHOUT REQUEST FROM THE CUSTOMER, Checking "Credit" Cards and DEBIT CARDS. These cards look EXACTLY like a regular credit card, and you pay with it at the store like a regular credit card. Banks advertise these cards with slogans such as "USE LIKE CASH" or "USE LIKE A CHECK". However, these cards operate VERY DIFFERENT from cash or check.
Unlike cash, use of a debit/checking card draws funds from your checking account with a DELAYED POST- this means, that although you may have money in the bank when you use the card, and use of the card SEEMS to indicate sufficient funds to cover your purchase on a given day- by the time the card payment posts to your account several days later, your account balance may be very different. If you have had other items come through, the earlier purchase may result in insufficient funds by the time the debit card purchase posts- even four days later or more. and then THE BANK DOES NOT CARE WHEN you made your purchase, and whether or not funds were available on that day, and you may be subject to high overdraft fees.
When you use an ordinary credit card, you are usually protected from making purchases over your available funds- not so with your debit card- it will theoretically allow you to make dozens or more charges, and will never let you know anything is amiss. The bank would love to have you make many purchase over the funds in your account in fact, because they will then charge you high fees to cover these purchases- even though they may only be $1 for a cup of coffee. Enjoy that $34 cup of coffee, please!
Use of the card also makes it much more likely that you will not enter these purchases in your account register, as you would with a check.
Use of the debit card does not
require a PIN number for security, and ANYBODY could use your debit card, and
charge or pay for virtually UNLIMITED purchases. There is nothing to stop a
crook from doing so.
Further, the customer liability for fraudulent purchases using a checking
debit card is FAR GREATER than for a regular credit card.
Further, the customer liability for fraudulent purchases using a checking debit card is FAR GREATER than for a regular credit card.Usually $50 for a regular credit card-- and up to ALL THE MONEY IN YOUR CHECKING ACCOUNT for a debit card- with no liability to the bank.
They will be SO HAPPY to issue a debit card to you today~!
Banks DO NOT INFORM THE CUSTOMER of these differences between a
checking debit card and standard credit card and checks, save THE FINE PRINT.
This is a perfect example of corporate lack of responsibility in regard to
serving ordinary folk.
Banks DO NOT INFORM THE CUSTOMER of these differences between a checking debit card and standard credit card and checks, save THE FINE PRINT.
This is a perfect example of corporate lack of responsibility in regard to serving ordinary folk.
DAFFY DUCK'S VISA CHECK CARD IS NOT BETTER THAN A CHECK
Elizabeth Hitchcock, Communications Director, U.S. PIRGGood morning, my name is Elizabeth Hitchcock, Communications Director for U.S. PIRG, the national lobbying office for the state Public Interest Research Groups. PIRGs are non-profit, non-partisan consumer and environmental watchdog groups with offices around the country.
Once again, we are pleased to join CSPI's Annual Hubbard AWARDS ceremony, where prizes are given for misleading snake oil advertising. This year, we are honored to present an award to VISA USA, for its campaign featuring Daffy Duck and Bugs Bunny, as well as some famous politicians, promoting its VISA Check Card. The VISA Check Card, also known as an ATM debit card, draws money out of your checking account. Unlike a plain old ATM card that requires a secret PIN code for every transaction, whether at a merchant or an ATM machine, the new VISA Check Cards, and Mastercard's MASTERMONEY cards, allow access to your checking account with just a signature.
Daffy and Bugs tell you these cards are better than a check, because you can use them without the "inconvenience" of providing identification. What Daffy and Bugs aren't telling you, is this: not only can you use your VISA check card without ID, but a thief may also use your card without identification, without a personal identification number and even without the card to drain your checking account, even if you don't lose your card or disclose your secret code. I know, not only because I work for a consumer group, but because I have been a victim of debit card fraud. After I used my card in a retail transaction, a thief took my receipt and used the number and expiration date to order merchandise over the telephone, and later to book a hotel room in Boston.
Over the last year, banks have replaced millions of expired PIN-only ATM cards with unsolicited VISA Check and Mastercard MASTERMONEY cards. Neither VISA nor Mastercard have required banks to ask consumers whether they want the new unsecure cards. Worse, they haven't told consumers that although the cards look just like credit cards, there's a big difference in your liability if someone steals your debit card.
Credit card liability is capped by the Truth In Lending Act at $50. Regardless of the cap, you're in a dispute with the bank only about whether you owe the money.On the other hand, ATM debit card liability can go as high as $500, or even all the money in your checking account, under certain circumstances. Worse, you're not fighting about whether you owe the money, you're fighting to get your own money back. At least one victim of debit card fraud lost all of the money in his checking account, as well as several thousand dollars of a cash overdraft account.
In August, following intense pressure from PIRG and other consumer groups, VISA and Mastercard agreed to require their member banks to limit consumer liability voluntarily to $0-50 in many circumstances. That's a good first step, but it should be the law. Consumers should not risk losing all the money in their checking accounts, simply because their bank replaced their safe, secret code based ATM card with an unsecure card that allows a thief to drain their checking account, armed with nothing more than a restaurant receipt.
When the credit bureau TRW voluntarily offered free credit reports in 1993, they were praised, but then in 1997, despite continued credit report errors, they took away the free credit reports. That's why debit card liability must be limited by law. Other changes PIRG endorses are the following: Reinvestigation timetables under the law must be toughened, banks should be required to issue provisional refunds quickly and banks should be required to make consumers whole after fraud occurs by restoring credit reports, sending apology letters to creditors, etc.
Banks should be required to give consumers a clear choice between PIN only and signature-based (off line) cards and consumers should be allowed to return unsolicited off line cards to receive PIN only cards without hassle. Legislation introduced by Rep. Chuck Schumer (D-NY), Sen. Al D'Amato (R-NY), and others would accomplish these reasonable goals.
Our money should be safer in the bank than under our mattresses. That's why these protections should be the law. Daffy Duck may be "the greatest", but unsecure debit cards are not. That's why U.S. PIRG is pleased to join CSPI to present this Hubbard Award to VISA USA.
EDITORS: Consumers can receive a debit card fact sheet. (1) Automatically by sending e-mail with the subject "debit" to USPIRG or (2) Downloading it from our web site or (3) by sending a SASE to PIRG DEBIT CARD, 218 D St SE, Washington, DC 20003.
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Easy Make A Kindle and Your Own Publishing are sites about self-publishing and writing, and how any person can publish materials, print, online, and electronic books. You can drop out of the corporate slave labor rat race and own your own life by writing and distributing your own books on the subject that you know best.
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