jcpainter
Crossville, TN
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schlep1967 wrote:I would find the proper number for T-mobile and call them. Odds are if you got the notice through email to change to a debit card, it is a scam. I've not heard others using T-mobile mentioning this change so I would be leary.
Here's the "skinny". The change is real.
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magicbus
Nantucket Island, MA
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Joined: 06/16/2002
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Lantley wrote:
But E-pay still puts your info out there which is my point.
Either you trust the electronic banking world or you don't. There is really no escaping it unless you pay all bills and all matters with cash. THere is only one banking system it's all tied together.
Sooner or later you have to pay the bill. Unless you pay in cash you participate in some form of the system.
If T-Mobile is offering you $60.00 in savings a year why not take it?
They would rather give you a discount vs. paying credit card fees to the bank.
No matter how you slice it at some point you are exposing your banking info, which will always have an inherent risk. Fraud, identity theft and deception are not a new phenomenon's. They have been around long before electronic banking and debit cards.
But you miss the Limit of Liability issue. A CC is limited to $50 and 99.9% of the time $0. Stolen debit card info will empty your linked bank account and you have to fight to get the funds returned. I spent the past 10 years designing and writing electronic banking software and, with this new check washing issue, I think it is much safer for retail banking. Not as safe as international commercial funds transfer because of so many customer-facing interfaces, but safer than checks.
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mr. ed
Amarillo, Texas
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schlep1967 wrote:I would find the proper number for T-mobile and call them. Odds are if you got the notice through email to change to a debit card, it is a scam. I've not heard others using T-mobile mentioning this change so I would be leary.
I had the same thought, so I called T-Mobile to verify it was them who sent the message. Yes, it was them.
For those who questioned my having a debit card: the only reason was if I wanted cash back when shopping. I've done that several times without incident. I rarely do that now since I mainly use a credit card for all purchases. Saves me a trip to the bank or ATM.
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WNYBob
Tonawanda, NY
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T-Mobile has a bank card account called T-Mobile Money.
I use that card number for autopay. By the way they pay 4% on the first $3,000 on deposit.
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StonedPanther
Goshen IN
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magicbus wrote:
But you miss the Limit of Liability issue. A CC is limited to $50 and 99.9% of the time $0. Stolen debit card info will empty your linked bank account and you have to fight to get the funds returned.
I had funds removed fraudulently from one of my accounts to tune of $2500.00 which was linked to a debit card. All it took was a call to the bank and in about 6 hours the funds were restored. I think it was done by a Nigerian Prince. I didn't have to fight anyone. A bank account can be accessed and drained fraudulently even when not linked to a debit card at all. The sky is falling. Get cash and stuff it in your mattress or stuff it in some jelly jars then bury them out in the yard. That's as safe as it gets LOL.
magicbus wrote: with this new check washing issue,
Check washing is nothing new, its been going on since there have been checks.
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way2roll
Wilmington NC
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StonedPanther wrote:Rant away, but every time you swipe or jam your debit card in the slot anywhere you're giving that same info to a whole gaggle of businesses.
This is totally false. Swiping your card creates a transaction between the bank and the merchant. No personal information is shared and no other businesses are involved.
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StonedPanther
Goshen IN
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way2roll wrote:StonedPanther wrote:Rant away, but every time you swipe or jam your debit card in the slot anywhere you're giving that same info to a whole gaggle of businesses.
This is totally false. Swiping your card creates a transaction between the bank and the merchant. No personal information is shared and no other businesses are involved.
Whatever you say. Your story and I'm sure you're sticking to it. I'll not waste the time to explain further.
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JimR 1
Custer South Dakota
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mr.ed
I too have 2 bills that I pay with a credit card, and I hope it stays that way, but if and when it changes to a Debt card or Bank Account Access I will probibly open a second banking account that will hold a small amount for the bills.
Reguardless of what others say or claim my fear with a debt card is an error on the bill. I have seen on the news where the electric bill was billed at say 30,000 dollars, yes it is rare but can happen wipping out your account. Also depending on the bank it could take some time to recover as all are not the same.
Here is somthing that might work good for you as posted earlier in this thread:
T-Mobile doesn't operate its own bank. Instead, they partnered with BankMobile to offer T-Mobile MONEY, an online bank that provides checking and savings accounts. T-Mobile MONEY accounts are powered by BMTX and provided by Customers Bank, a member of the FDIC. T-Mobile MONEY accounts have no monthly fees, no minimum balance fees, no overdraft fees, no transfer fees, and no late payment fees. T-Mobile MONEY accounts are available to residents of the U.S., except Puerto Rico.
JimR
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Lantley
Ellicott City, Maryland
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way2roll wrote:StonedPanther wrote:Rant away, but every time you swipe or jam your debit card in the slot anywhere you're giving that same info to a whole gaggle of businesses.
This is totally false. Swiping your card creates a transaction between the bank and the merchant. No personal information is shared and no other businesses are involved.
If we agree that it only creates a transaction between bank and merchant. How many individuals are we talking about? How many people within the bank and merchant's organization have access to the data.
Certainly more than just 2 people. Banks and merchants have internal loss prevention departments for a reason.
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Thermoguy
Graham, WA
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I had the same update from Xfinity - they want bank info, already was using my debit card, but now they want your bank routing number, etc to get the $10 per month discount. Was $10 for using CC or debit card, but changing to $5 discount per month for CC or debit but $10 per month if you give them your bank info. I'm not giving them my bank routing information.
This is not the same as bill pay, that is something you initiate, this is where they have access to your account and take the money monthly.
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