Monday, October 17, 2011

Banks have you hooked on their debit cards with their automated bill pay; is it really safe to use the cards in public anyway?



Maybe this story doesn’t really apply so much to “personal identity security”, but maybe it does, as far as this column has dealt with debt collection.


The New York Times Sunday ran a story by Nelson D. Schwartz showing how big banks can get away with their new debit card fees because they have everyone hooked on the ease of automated bill paying. It would be too much work to move twenty bills to a credit union, right?

For now, if you never use your debit card to actually make purchases (which security experts say you shouldn’t do anyway – so here’s the relevance) there’s no problem.

But it’s a lot easier to use it at the 7-11 than worry about trips to the ATM with your same bank.

Here we go with the story. A friend had said on Facebook that it was easier just to pay bills by mail. I don't think so. 


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