Walmart strikes again

[dummy]

Or simply shop other places. My debit card works the same as cash at all the other places I do business. The MC part of the card is supposed to work the same as a credit card, except I pay for it immediately. Guess I'm one of the "old school" people that think "CUSTOMER SERVICE" is supposed to mean helping the customer.

Businesses that don't learn from their mistakes, predict their own fufture.

 

[OkeeDon]

Your debit card works the same as cash, as far as YOU are concerned. For the merchant, the debit card has a processing fee. either as a debit card (if the merchant has the debit card processing hardware, such as the keypad for entering your PIN) or as a standard credit card. Your bank account is debited immediately, but the merchant gets his money credited to his bank account approximately 2 days later, less the fees (either immediately or all at the same time at the end of the month, depending on the processing company).

All that said, I love my bank debit card with a Visa logo. If I'm about to make a fairly large purchase, I go online with my bank and check my balance. If it's uncomfortably close, I make an online transfer from the savings account, or I simply decide to defer the purchase. I can use the card to make online purchases as a credit card or local purchases as a debit card. I never have to pay a fee or pay a large monthly bill. At the end of the month, I download my bank statement to Quicken to keep a record of all my purchases. I especially like the cash-back feature of many of the box stores; I typically will get $40 or $50 cash-back when I'm running a little low on "jingle in the pocket"; that's more than enough for my infrequent cash purchases. I rarely have to go to the bank any more, except to make those deposits which are not automatic.

I also take advantage of all the companies that make direct withdrawals to pay my bills. New Holland Credit is one of the few that don't; currently the only check I write and mail each month is the tractor payment. It's at 0% interest, and I resent having to spend $0.37 to pay it -- I wish they would go on automatic withdrawal. Over the life of that loan, it's going to cost me $13.32!

 

[fivestring]

<font color="red">"The MC part of the card is supposed to work the same as a credit card, except I pay for it immediately." </font>

Not necessarily...
When you swipe your card, it asks, "debit or credit?"
If you choose debit, it comes out of your checking account PDQ.
If you choose credit, it comes out the next business day.

This is how identity thieves work when they steal a debit card. They go shopping and choose the "credit" option when it is swiped.

 

[Boondox]

Good! Maybe this will drive more business to the locally owned stores. Pete

 

[fivestring]

<font color="red">"I rarely have to go to the bank any more, except to make those deposits which are not automatic.

I also take advantage of all the companies that make direct withdrawals to pay my bills. New Holland Credit is one of the few that don't; currently the only check I write and mail each month is the tractor payment." </font>


Don, the first part is exactly how my wife and I operate now. Mostly deposits.
There is a drawback to automatic withdrawls (drafts)...
Some companies (especially wireless phone service providers) do not stop their automatic withdrawl (draft) when you change companies. You end up having to close that account and re-open another one.
My wife and I see this happen more than most people realize. She works at a credit union.
We no longer use automatic withdrawl (draft) for bills or deal with any companies that require automatic draft.
Now automatic deposits..... love it!

 

[Gatorboy]

</font><font color="blue" class="small">( I remember when some of the gasoline companys charged a nickel more per gallon at the pump if you paid for your gas on the gas companys credit card. )</font>

Years (and years) ago, I remember when this first started at the Standard Oil gas station my dad used regularly. My Dad was so upset with this extra charge for using THEIR credit card that he would go to that station once-a-month and put in 0.25 worth of gas. He said, now they have to generate and send me a bill, and then process my payment, which will cost them MORE than the "extra charge" they want to charge me. He did this for months -- I think it just made him feel good.

 

[OkeeDon]

Actually, most of my draft payments are controlled by me. The electric bill, cable bill, and many others have an option where they will not draft until I go online and specifically tell them to withdraw. When we had a mortgage, my wife had it set up as an automatic withdrawal, but when they offered the option to make each payment online, we switched to that, as we often made an extra principal payment. If I don't go online and specifically make the payment, they don't withdraw. The electric company (FPL) also requires me to add my name each time I make the payment as an electronic signature.

We currently use a small, home-town bank in which we purchased a small amount of stock when it opened. As stockholders, almost all the fees they charge are waived -- we don't pay for travelers checks, money orders, wire transfers, etc., and our account is flagged so all the tellers know we are stockholders. We also get a 1/4% discount on any loans, if we did borrow any money. Best $1,000 I ever invested -- makes me feel like a king when I do visit the bank, besides the value of the stock going up! Currently, they do charge a fee to use their online bill paying function, but they are thinking about eliminating it for stockholders. At that point, I will never write another check.

 

[Junkman]

</font><font color="blue" class="small">( .................You silver tongued devil. .................. )</font>

I have been called a lot of things in the past, but this is a first. I kind of like that! First I bought the wife the Rolls, then the Jaguar. Since you speak so highly of me, I think that I will buy her something this afternoon as another present. /forums/images/graemlins/grin.gif

 

[BillyP]

Junkman it was meant as a compliment, I assure you.

You could start a new thread "What Should I Buy My Wife (just for the heck of it)"

 

[gws]

</font><font color="blue" class="small">( RE:
This is a easy fix. Fill up a cart full of items. Go to the cashier and hand them your MC. When they refuse, walk away. Get several hundred friends to do the same thing every weekend and make your point.

"Found out that Walmart no longer accepts the Mastercard option, only the debit part, which my bank charges a fee for (the mastercard side is fee free but is still debited out)."
)</font>