Actually, I'd take it a step further. Not only do I not understand the logic
of using a debit card, I'd take it a step further and say that I don't
understand the logic of spending money you can't afford to spend and don't
have.

I use the debit card for getting cash from an ATM, use the credit card
for making large retail purchases and mail order, and I use checks for
major purchases, tax payments, and utility bills. The bank for one of
my checking accounts has free electronic bill paying which I use.

I use the walkup window at my credit union (don't know how to use an ATM,
and have no need for such) for what small cash needs we might have, like
husband's morning coffee with the guys.

ATMs are handy if you need to get cash after bank hours. They also are
more convenient than trying to cash at a bank at which you don't have
an account.

"Ron Peterson" <ron@shell.core.com> wrote in message
news:ab47b828-fd87-4729-9ad5-1e8e55679e83@x35g2000hsb.googlegroups.com...

ATMs are handy if you need to get cash after bank hours. They also are
more convenient than trying to cash at a bank at which you don't have
an account.

I suppose, but I don't think we go anywhere that won't accept a card. I
think the only time we really *need* cash is when we buy a raffle ticket for
a non-profit something-or-other.

If you sincerely believe ATM cards are evil,
it's your perogative not to use them, but it seems pretty arrogant to
assert that *nobody* can possibly have any valid use for them.

Wow! I don't think I've ever used the term evil in this newsgroup to
describe anything, and I certainly haven't used it in this thread to
describe debit cards. The instances you described would be instances for
using cash, not a card of any type, so it seems pretty hard for you to
somehow assert that using a debit card could be preferable to a credit card.

Well, your assertion was that nobody really needs to buy anything with
cash any more, therefore you can just use a credit card all the time
and never have to worry about getting cash in an odd place or at an
odd time. I'm just pointing out that your assertion is not valid for
many of us,

Well, your assertion was that nobody really needs to buy anything with
cash any more, therefore you can just use a credit card all the time
and never have to worry about getting cash in an odd place or at an
odd time.

I also have a savings account. My bank has a offer that you sign up
and use you debit card and they will transfer the change to your
savings account and my bank transfers money every month to my savings
I saved $6.40 already this month so far.

I guess you didn't take the time to read the thread.

I think my point is that people who are using a debit card instead of
a credit card are not adequately handling their finances. A debit card in
the hands of the end user makes no sense whatsoever.

I don't understand people *consistently* doing things that are not in
their own interest. Using a debit card is probably the least of these, but
it makes the list and is on topic in this forum.

Going to my credit union to get sufficient cash takes as much planning
as do the other things in life. We try to get a month's supply at a
time, so we only have to do it once a month. I don't see how that
should be a problem for anyone.

The banks want you to use it because it increases their bottom line,
but it seems to me that it has only increased prices for everything.

but it seems like one reason why the internet banks are
offering better interest rates on deposits and lower fees on
transactions than brick-and-mortar banks is precisely because they
don't have those front-office costs and don't have to handle piles of
cash and coins themselves.


I'm not so sure of that. Brick and mortar appeal to older folks who are

Sandra Loosemore wrote:
but it seems like one reason why the internet banks are
offering better interest rates on deposits and lower fees on
transactions than brick-and-mortar banks is precisely because they
don't have those front-office costs and don't have to handle piles of
cash and coins themselves.

I'm not so sure of that.  Brick and mortar appeal to older folks who are
used to higher fees for everything.  So they may be just getting more
profit from fees (for their Country and Yacht Club dues) than Internet ones.

When Ron pointed out that some people find debit cards useful for
getting cash in odd places at odd times, and you came back with a
series of replies that seemed very dismissive of that, with the

So, please: using a debit card makes perfect sense for some of us.

The way I understand this program (at least the way I've seen it
offered), if your purchase something that costs $x.y (x dollars
and y cents), then (100 - y) gets transferred to your savings
account. The most that you can ever get with any purchase
using this scheme is $0.99. The average is probably closer
to $0.50.

I think what you're missing here is that the cash you get
transferred to your savings account in these schemes is
your *own* cash!  If you are at a point of sale and buy
someting for, say, $19.50, the cards round up the transaction
to an even $20 and transfer the difference to your savings
account.  That extra 50 cents is not a gift from the bank.

The real bonus is that for the first three months, they
will match that transfer with free cash.  Then, they
start matching 5% of your transfers, up to a max total
of $250/yr.

If we assume that the average change
is 50 cents, then the average transaction nets you
2.5 cents.  Most folks will do a lot *lot* better
with a typical 1% (or more) cash-back credit card.
Especially after those first three months!

In particular, these are pretty strong
and sweeping statements about other people's behavior, coming from
someone who admits she doesn't even understand debit cards:

I think my point is that people who are using a debit card instead of
a credit card are not adequately handling their finances. A debit card in
the hands of the end user makes no sense whatsoever.

and


But isn't withdrawing a month's supply of cash all at once even less
optimal than using a debit card for incremental withdrawals throughout
the month? You're losing the float on that cash in the meantime

Additionally, going back to address this complaint:

The banks want you to use it because it increases their bottom line,
but it seems to me that it has only increased prices for everything.

If you had your way and everybody went to the bank in person instead
of using debit cards to make ATM withdrawals, wouldn't *that* increase
prices, too?

I'm not sure why you've chosen to get into a pissing contest with me.

In your other
posts in this thread, you've said you use a debit card (not an ATM card?)
for getting cash. Since using a credit card for getting a cash advance is
not a good financial decision, I don't think you can attribute that activity
to the above statement. Sandra, we're talking about *buying* things with a
debit card. Do you not even understand the premise of the thread?

But isn't withdrawing a month's supply of cash all at once even less
optimal than using a debit card for incremental withdrawals throughout
the month? You're losing the float on that cash in the meantime

I guess it depends on how much cash you're spending. I don't go to food
trucks, food courts, little ethnic restaurants, etc. We eat good wholesome
food at home. I clearly stated my cash needs are minimal.

Sandra, the price increase I was referencing isn't at the banks.

The merchants are being charged a fee to process debit card
purchases. Where do you think they get the money to pay that fee?
The business man (or woman) covers his expenses through the price he
charges to the purchaser. Even those who pay cash, pay this
additional expense.

I'm not sure why you've chosen to get into a pissing contest with me.

I'm not sure why you want to insult everyone who uses a financial
instrument
you admit you don't understand, either.

Right, *your* cash needs are minimal. But you clearly asked why
everyone couldn't do the same as you in terms of going to the bank in
person during business hours once a month.

Sandra, the price increase I was referencing isn't at the banks.

OK, if you don't mind paying higher fees at a brick-and-mortar bank than
I do at my internet bank, that's fine with me. *shrug*

Right, *your* cash needs are minimal. But you clearly asked why
everyone couldn't do the same as you in terms of going to the bank in
person during business hours once a month.

I never asked any such thing.