Adverse to Debit Cards...

[FrugalZen]

I'm curious...is anyone else here adverse to Debit Cards???
I am for a number of reasons.
1/ Lose it and you can find your Money gone before you find out the card is gone....then have to have a Major Fight with your bank about it especially if because of it you get hit with Overdraft Fees and they greedily refuse to waive them.
2/ I RARELY see ANYONE write down in a check register that they have spent money from the checking account....how do you keep track of potentially hundreds of little charges and actually know how much money you really have.
How many people do you know (I know a few) who never bother to reconcile their bank statement....too time consuming with all the little debit charges as one of them told me...as long as the account has (what they think) they should have in it they ignore it.
3/ When I pay cash their is NO chance of being double charged by the store...refer to greedy overdraft fees in (1) and stupidity of (2).
4/ And probably the biggest reason....If I had a Debit card that accessed my accounts and I saw something in the store that for some reason at the moment I just COULDN'T live without I very well might buy it because I had access to all the money needed...with Cash you have to have it with you and if you have to go get it you have a chance to cool off and give it a second thought.

[chenda]

I use my debit card quite a lot, I just keep a running total in my head of deducations to my current account.
I was defrauded once, someone in the phillipines got hold of my card details and withdrawal a few hundred pounds. My bank refunded it all quickly though. On the other hand, I once had a blond moment and walked away from a cash machine and forgot to take the cash with me and within 30 seconds someone must have taken it...

[Christopherjart]

I think debit cards are like cash. You shouldn't have all your money in your debit account anyway. If your card got stolen you'd be in trouble. And considering fees: if you don't know how much money you have or that you have at least $x, perhaps it is time to make a budget.

[Hoplite]

I won't use a debit card, mainly for reasons (1) and (3), with added concerns:
Evergreens: Buy software online and find that they will bill your account for upgrades or updates "for your convenience" whenever.
No cash back on debit cards, at least that I have seen.
Having a bank account cleaned out either deliberately (fraudulently) or a misplaced decimal point on a bill. It's not just a question of getting your money back since there will be bounced checks or autopayments, and all the joy that follows.

[BeyondtheWrap]

I use a debit card.
1) I've never had this happen to me, so I don't have a rebuttal, but I have had the situation where the bank charged me extra fees and they refunded the money when I spoke to a representative about it.
2) I never write it down either. If I want to see how much money I have left, I just log into my account online and look. I don't have to wait a whole month to get my statement.
3) I've never had this happen to me ever.
4) For me, it's the opposite. I find it easier to spend cash because it's already been withdrawn from my account (so it won't affect my account balance) and I have no idea where there cash in my wallet goes if I don't keep track of it, whereas if I spend money from my debit card, my account balance is immediately reduced by the purchase amount.
The debit card keeps a record of all my spending, so it's easier to see where my money goes. Not so with cash.

[DutchGirl]

I'm also using a debit card. Credit cards are not much of a thing in the Netherlands, only for making reservations on rental cars and hotels. Users of debit cards are maybe more protected in the Netherlands as well, you generally get your money back if someone stole your card or your identification details. It is more or less the bank that has to prove that you were really too careless with your card and should have known better, or that you gave away your details on purpose.
For me, using cash also meant I lost track of what I had spent the money on. I would take 100 guilders (at that time, ha) out of the ATM and go shopping, and by the end of the afternoon I would have a bag full of stuff and an empty wallet. And sometimes I would not be able to parse together (from the receipts I kept) where exactly the money went.
I must say that I have also changed my ways about shopping, now I shop when I need to and with a list. Also, now I have a smartphone app that helps me keep track of my expenses, and maybe with cash expenses it would be just as helpful as with debit card expenses. (And yes, I log them all and I also check them online with my bank account information).
Situation 4 will not happen anymore. I have a monthly budget, and if an expense is not in that list, I will have to think about it for a long time and can't just wave my debit card around and buy it.

[buzz]

1. It can take just as long for you to find out your cash is gone, and you have a much higher chance of getting it back if it's electronic. Credit card is the best way to go here.
2. Again, not an issue that is exclusive to debit cards. If you want to track, it's harder to do so with cash since there is no paper trail to audit. Credit or debit seems preferable here.
3. True.
4. Self control. If you don't have it, I can see why cash may be better in these situations. But this isn't the fault of a plastic card.
Not really trying to start an argument, just making the point that most of the issues presented are not due to credit/debit card use, and today cards are usually safer than cash, with credit being the safest way in the US.
As for people not paying attention to their transactions, I totally agree with you, and this is why they are not retiring early!

[C40]

I don't use a Debit card mainly because it's linked to the account that my paychecks are automatically deposited into. So I generally want to keep my financial transactions separate from this, because in the event of losing my card or my account being compromised, I have to deal with changing my direct deposit setup.

[JohnnyH]

I agree, credit card is inherently less risky... I know credit cards have a bad rep, especially in internet finance circles, but 2-5% back on purchases is significant and justified IMO.

[RealPerson]

Assuming you have sufficient funds, I think a debit card is no different than a credit card. The convenience of sliding some plastic obscures the reality of forking over cash. It is all so sanitized and makes you forget how much you are spending. For those with a regular Costco run, just take cash next time for you >$100 bill. It feels very different than writing a check or using a card.
Another reason to use a credit card is the protection in case of theft. I don't believe that is the case for a debit card, so you are totally dependent on the goodwill of the bank. This thinking only works if you use a credit card for convenience, not for getting into credit card debt.
Finally, if you can make your business purchases with a credit card, you can accumulate lots of miles. Really nice when you go on a trip or buy on Amazon. At least when you have AMEX.

[RealPerson]

Forgot to add something: I always understood that if you use a debit card as a debit card (i.e. punch in a code), you actually get charged for use. The way to use a debit card is to use it as a credit card (with a signature instead of a PIN code). That way you don't get charged.

[JohnnyH]

I've never understood the credit cards are too easy or credit cards don't seem like real money arguments.
I haven't been paid in cash, or even seen a paycheck (direct deposit) in almost a decade but that money is still real to me.
Cash is faster for most in person purchases than cards... Checks are irritatingly slow, I suppose if I had to go through that annoyance I actually might spend less.
I think the reason people get into trouble with credit cards is simple and obvious: it offers access to money they don't have, yet want to spend.