12 replies to this topic

[CroSpartacus]

Hey guys,

I was just wondering if anyone knows how the bank thing works. I want to order stuff online but they always ask for credit cards. I really want to get a Debit Card which I can use to buy stuff online. Does anyone know what I have to do to get one? Is there a certain sum of money I have to put in for a debit card? Is there any interest rate I have to pay?

[misere]

Um...I didn't realise you could use a debit card to buy things online. I have one, and as far as I can tell, it's always credit card that they want. Although I think PayPal might except cheques from a debit card account or something like that. I'm not sure, though. And for what you have to do to get one, and the certain sum of money, and the interest rate you have to pay, it depends on the account, I believe. The one I have is like a normal bank account, with a card that I can use to pay without having to use cash, and instead of having to pay interest, they give me interest instead if I leave it in the savings account instead of the chequing account.

[wild20]

Let me help you out here. A debit card works several ways. It has two things, debit, and credit. We will start with debit.

Debit works so that when you swipe it, it takes the money out instantly. Where does it take it from? Your checking account. You have to have money in the account in order for you to use debit.

But then there is credit. It works so that in most cases and with most banks, the money is taken out after three days, and the money doesn't need to be in there until then. Both features are in only one card, but I am not sure you can use the debit feature online.

[stlgoalie]

Also depends where you are too. When I lived in Germany I didn't have a master card logoed debit/check card from Duestche Bank, just a debit card, but I could use it at anywhere that had an EC logo. Now I did have my Bank of America Visa Check card and a GM MAster Card that I used regularaly as well.

I never use my check/debit card for online transactions, I always use a regular credit card. The reason being is that if your debit card is stolen or ID theft occurs the liability risk is much greater. With my Credit card I'm liable for the first $50 if it's stolen either physically or via online.

[seanooi]

I live in US and what i did was just open a checking account and they issued me a debit card. And i make purchases online with my debit card. It works like a credit card i think, just that the difference is it is directly deducted from your account.

[xaetos]

I have a debit card, but from what I've seen, you can only use a credit card online. If you could use debit, I'd have ordered a lot of stuff online by now.

Maybe its cause I'm in Canada, not the US? :\ You never know.. Canada's odd like that.

If you can use debit online.. someone want to tell me how? XD

[ameribass]

I have a debit card and I have bought many things online. I have a Visa card that was issued to me by Chase Bank. In order to get a debit card, you need to open a checking account with the bank that you are at and they will send you a debit card in the mail, usually within the first week. If you are under the age of 18, some banks have programs where you can get something called a high-school checking account where your account will be linked to your parent's account in case you fall into debt. This is just to assure the banks that they will get their money back as people under the age of 18 do not have any credit history as they cannot legally enter binding contracts. Good luck and if you need any help, make sure that you come back and ask!

[xaetos]

So.. wait. You need a checking account on your debit card in order to buy stuff online with it? 'Cause I only have savings. I'm not sure why, I think it has something to do with the type of account I have.. hmm.. I'll have to look into that. Does it have to be checking, or can you use savings, too?

Edit: I figured it out :\

Edited by xaetos, 16 February 2006 - 02:43 AM.

[CroSpartacus]

I don't want a credit card because currently i don't work and can't pay off the interests. I just want to buy things online such as on E-bay but they only accept cards. I am pretty sure I you can use debit cards for online purchases.

I heard from a friend that you have to have a certain amount of money in your account for the debit card to work. He said something around at least $150. Is this true?

[wild20]

No. Debit doesn't need a certain ammount. But you can use your debit card as a credit card though. That is what I am saying. Now what you can do with a debit online, I don't know. But I know you can use your credit part of your debit card online. Does that help?