Common Debit Card Errors

We like convenience. But with convenience can come problems. Case in point, the use of a debit card.

There are three kinds of debit cards. One type is the ATM debit card which is used in ATM machines to deposit or withdraw money. Another type of debit card is a check card. The check card debit card is a wonderful tool. You don't have to write those pesky checks, holding people up in check out lines. You just have to be diligent about keeping your receipts and knowing just how much you have in your account. Nobody wants to pay any over the limit charges. Then there is the combined ATM debit and check card which you can use to transfer and deposit funds from your account via an ATM machine and also use it as a check card. Sounds easy enough to handle; right?

It would be easy, if you didn't factor in a few problems that could turn your nice easy going debit account into a nightmare. Problems, you wonder in fear? Don't worry; if you are aware of some of the pitfalls and watch your statements closely you can stop the errors before they become big problems to your account and to your credit.

The first mistake that could threaten your debit card account is basic human/computer error. First this reason, keep all your monthly transaction receipts. This means all the receipts from any stores you use your debit card and any time you add money to your account.

The second common mistake is when you sign up for a service and then discontinue it. Sometimes companies will offer you an incentive to try a service for a certain period of time for free, providing you sign up using a credit or debit card. Sounds good. It can be good. But what the company hopes for is that you will like the service and continue or at least are to lazy to cancel the service. Be sure to write a note and the date you must cancel before billing starts on your debit or credit card. If you don't want the service cancel before that date. Then after canceling make sure the fee doesn't show up on your account. If it does, call the company immediately.