Wireless Provider Gripe
I received a notification from T-Mobile that in order to receive my discount for auto pay I would need to give them either my debit card or banking account number in order to continue getting the disc...
Forum Discussion
Lantley wrote:
But E-pay still puts your info out there which is my point.
Either you trust the electronic banking world or you don't. There is really no escaping it unless you pay all bills and all matters with cash. THere is only one banking system it's all tied together.
Sooner or later you have to pay the bill. Unless you pay in cash you participate in some form of the system.
If T-Mobile is offering you $60.00 in savings a year why not take it?
They would rather give you a discount vs. paying credit card fees to the bank.
No matter how you slice it at some point you are exposing your banking info, which will always have an inherent risk. Fraud, identity theft and deception are not a new phenomenon's. They have been around long before electronic banking and debit cards.
But you miss the Limit of Liability issue. A CC is limited to $50 and 99.9% of the time $0. Stolen debit card info will empty your linked bank account and you have to fight to get the funds returned. I spent the past 10 years designing and writing electronic banking software and, with this new check washing issue, I think it is much safer for retail banking. Not as safe as international commercial funds transfer because of so many customer-facing interfaces, but safer than checks.
