She utilized her debit card at a motel in Milwaukee for charges and discovered on her next month’s bank statement that someone had spent a $3,500 bill at another hotel of the same brand in Chicago. At first her bank could not, (or would not) fix the problem, and the hotel accused her of running up the charges herself. Only after threats of going to the authorities and offers of proof that she had been out of town for the time did she have the ability to get the charges reversed.

So listed here, for your reading pleasure, is a list of DON’Ts and DO’s to bear in mind when you utilize your debit card. Do not falsely think that your debit card will receive the same protections you get from your credit card. If someone takes your credit card number and runs up a fraudulent bill, you won’t be held responsible for the fraudulent charges, not until the card company finishes its investigation and most likely not at all if they find evidence of identity theft.

But, if someone takes your debit card information and starts charging away, you can expect to be held responsible, because the money comes straight out of your bank account. Not only are they your funds directly- with no one out there to cover you, but getting the money back can be a timely hassle, easily taking a month, or more to sort through.

Even if your money is only put on freeze temporarily, it can still be harmful to your finances, especially if you do not have a large amount of money to tide you over. On top of this, if the hold is greater than your balance, it can set up an overdraft protection and later transactions can be denied or added to your overdraft fees.

Article Will Be Finished In Part Three….

Rapid Recovery Solution is a commercial debt collection company.

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