Belial6 wrote:
The US banks are definitely making money of of fraud somewhere. All you have to do to know that is look at how heavily they push the "Check Cards". Check cards are basically credit cards that automatically withdraw the money every charge immediately after use.
Here in the US, they even run ads that show how difficult it is to use a check when you don't have any ID, and that with a Check Card, you can just swipe the card and and go. They are even advertising how you don't even need to sign a receipt now.
It amazes me how many people that I would have thought were mentally capable, happily accept these cards from their banks.
In Norway, and most places in Europe AFAIK, we have PIN codes on these cards...
No/Wrong PIN = No money
(unless you yank out the phone line from the card terminal, in which case you'll have to sign the receipt and show ID).
Correct PIN basically serves as the signature.
Oh, and btw: My bank has no fees whatsoever, except a 30 EUR yearly fee for the Debit/VISA card.
Usage of the card is free, so is paying your bills, transferring money, etc...
Cheques are only used by old people every now and then, debit cards have been common since the early 90's
