You have to wait for the investigation to complete to receive compensation if you’re hit by fraud on a debit card. Credit cards don’t share that issue. If you’re poor or living paycheck-to-paycheck, debit cards are potentially a risk to your livelihood.

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seabre 2 hours ago | parent | next [-]

As someone who has been hit with fraud on a debit card and a credit card, the process to recover money from fraud on a credit card is so much easier and more hassle-free than a debit card.

The big difference is that with a debit card, it's your money that is hit by fraud. The debit card is basically just a proxy. You have to go file a police report. You have to hope the bank will give you the money back.

When the credit card gets hit, it's the credit card company's money and they will seemingly chase the fraud to the ends of the earth to recover it.

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thechao 26 minutes ago | parent | next [-]

> The big difference is that with a debit card, it's your money that is hit by fraud.

I kind of disagree. I think what's happened is the bank would prefer you to believe that. Imagine I kept my money at the bank, and deposited $10000 with the teller. Immediately afterward a robber follows in and steals that $10000 from the teller. Does the bank say "oh no Mr. TheChao! A robber stole your $10000!". I mean, no? The bank got robbed. Just because the bank's digital security is more tied one-to-one to dollars and its easier for a robber to steal from "my till" doesn't mean it was me who was robbed. It's the bank's job to stop that.

	▲	Hardwired8976 10 minutes ago \| parent [-]
		Eh when you deposit money with a teller, it gets added to your account, which is in physical terms probably just a big storage and a database who has how much. But in the case of debit card, the card ties the money to your account. It is actually that. It's as if someone would steal from a personal safe at the bank.

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avianlyric an hour ago | parent | prev [-]

This depends heavily on the country you’re in. In the UK banks are required to refund you within a single business day if they don’t have any evidence that the customer isn’t trying to defraud the bank themselves.

They try to squirm out of that of course. But in general getting your money back isn’t too tricky even with a debit card.

	▲	seabre an hour ago \| parent [-]
		Oh yeah. I should definitely caveat: I am in the US. I think banks here are required to cap your loss to $50 USD if you report unauthorized fraud within two business days. But still, the onus is on you. Meanwhile, virtually all credit cards in the US offer $0 liability protection. Which means at most you pay nothing.

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abdullahkhalids an hour ago | parent | prev | next [-]

The underlying problem is that the whole concept of cards is insane. Basically, you go around telling every shopkeeper the code for your safe, and ask them to take however much cash you owe them out of the safe.

Sane ways to organize payments:

- Merchant gives you a bill-id. You input it into your bank website - where you see the bill amount being charged. You accept, and bank pays merchant.

- You give merchant your card number (that's the only information - no expiry, no ccv, no name). A notification pops up on your bank website asking if you want to pay what the merchant is requesting. You accept.

- You go to your bank website and obtain a random number, either allowing a single transaction or a recurring transaction. You give the merchant the number. After merchant charges it, no other merchant can charge the same number.

	▲	KptMarchewa 37 minutes ago \| parent [-]
		> You go to your bank website and obtain a random number, either allowing a single transaction or a recurring transaction. You give the merchant the number. After merchant charges it, no other merchant can charge the same number. That's basically how Blik works in Poland. With the exception being that the number is random 6 digits randomly generated when you open the app, that is active for ~2 minutes. So you don't deal with the issue of very long and error prone numbers to copy. Much better way to pay online. https://en.wikipedia.org/wiki/Blik

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kevin_thibedeau 2 hours ago | parent | prev | next [-]

I've always had fraudulent debit charges automatically reverted. Typically the bank's fraud detection disables the card and you clear up the matter on the phone. Or they call you to verify if a suspicious charge outside your profile was actually yours. The banks aren't required to do this but they can choose to provide this level of service.

	▲	bijowo1676 an hour ago \| parent [-]
		the cc fraud (and fraud protection) is THE main selling point of Visa/MC credit cards. it is that different treatment of debit/cc fraud that pushes people towards high fee cc. it is cc fraud protection that justifies high cc processing fees. without cc fraud there is no need in visa/mc duopoly.

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ryall 2 hours ago | parent | prev [-]

Weird take, credit card debt is much more of a risk to that demographic than debit cards ever will be