Bob Noel wrote:

In article ,
Cub Driver wrote:

When my bank issued me a "MasterMoney" card in lieu of the old ATM
card, I made them take it back and provide me with a downmarket card
such as they issue to the students with twenty bucks' balance. I just
don't like the idea of a card in existence that could empty out my
account when used without a PIN.

I wouldn't either. But a debit card requires the PIN.

Not necessarily true. A debit card in online mode requires a PIN. If your
debit card allows offline debit transactions (e.g. it has a Visa or M/C
logo on the front) there is no PIN required for your card (or just the
numbers) to be used to clean out your checking account [and more if you
have overdraft protection].

Sure, maybe you can get all the fraud sorted out later with that no-fraud
guarantee, but in the meantime your checks are bouncing, you can't
withdrawl your money, the people who you gave checks to are upset and are
going to charge you fees + add you to black lists, and you need to spend a
lot of time taking care of this. The no-fraud guarantee isn't going to
help you with *that.*