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Posted by Sandra Loosemore on August 17, 2008, 9:41 am
>>
>> ATMs are handy if you need to get cash after bank hours. They also are
>> more convenient than trying to cash at a bank at which you don't have
>> an account.
>
> I suppose, but I don't think we go anywhere that won't accept a card. I
> think the only time we really *need* cash is when we buy a raffle ticket for
> a non-profit something-or-other.
You must live a much more constrained life than the rest of us. Don't
think the food truck where I buy lunch sometimes takes credit cards, nor
does the guy who sells books outdoors on a table in Harvard Square. A
fair number of shops I visit have posted policies like a $10 minimum for
credit card purchases, so you need cash for smaller purchases. I think
most of the fast-food chains have been taking cards for quite a while
now, but I dunno about the smaller, independent ethnic food counters I
see in the local food courts. There are at least two good sit-down
ethnic restaurants in my neighborhood that I know don't take cards at
all; I think the owners of one of them are muslims who believe such
things are sinful. If I need to tip the bellhop or shuttle bus driver
when I'm travelling, it's a lot easier to hand him a dollar bill than to
figure out how to get him a credit card payment.
And, having an ATM card means you can get the cash for such small
purchases pretty much anywhere (even in other countries, in the local
currency), anytime, instead of being constrained to visit your own bank
during business hours. If you sincerely believe ATM cards are evil,
it's your perogative not to use them, but it seems pretty arrogant to
assert that *nobody* can possibly have any valid use for them.
-Sandra the cynic
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Posted by Elizabeth Richardson on August 17, 2008, 5:42 pm
>
If you sincerely believe ATM cards are evil,
> it's your perogative not to use them, but it seems pretty arrogant to
> assert that *nobody* can possibly have any valid use for them.
>
Wow! I don't think I've ever used the term evil in this newsgroup to
describe anything, and I certainly haven't used it in this thread to
describe debit cards. The instances you described would be instances for
using cash, not a card of any type, so it seems pretty hard for you to
somehow assert that using a debit card could be preferable to a credit card.
No, my life isn't as busy as most of you who work for a living, nor those in
the lower-48. But planning of any sort - financial, time, parental - takes
thought. Going to my credit union to get sufficient cash takes as much
planning as do the other things in life. We try to get a month's supply at a
time, so we only have to do it once a month. I don't see how that should be
a problem for anyone.
Elizabeth
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Posted by Sandra Loosemore on August 17, 2008, 7:40 pm
> Wow! I don't think I've ever used the term evil in this newsgroup to
> describe anything, and I certainly haven't used it in this thread to
> describe debit cards. The instances you described would be instances for
> using cash, not a card of any type, so it seems pretty hard for you to
> somehow assert that using a debit card could be preferable to a credit card.
Well, your assertion was that nobody really needs to buy anything with
cash any more, therefore you can just use a credit card all the time
and never have to worry about getting cash in an odd place or at an
odd time. I'm just pointing out that your assertion is not valid for
many of us, so what business do you have telling people who find it
convenient to use an ATM card to get cash that no, they should stop
doing that and only visit their bank in person during business hours?
(As it happens, I use an internet banking service, and don't even know
where their nearest branch office even is....)
-Sandra the cynic
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Posted by Elizabeth Richardson on August 17, 2008, 8:49 pm
>
> Well, your assertion was that nobody really needs to buy anything with
> cash any more, therefore you can just use a credit card all the time
> and never have to worry about getting cash in an odd place or at an
> odd time. I'm just pointing out that your assertion is not valid for
> many of us,
I guess you didn't take the time to read the thread. What I said originally
is that I don't understand the need for a debit card, and then stated my
reason. You may disagree, but I haven't "asserted" that one does not need
cash. In fact, I said that we do use cash. I personally use very little
cash, but my husband uses a small amount on an almost daily basis. Neither
of us uses a debit card. I maintain that if you're going to use plastic a
credit card is a far wiser choice.
Elizabeth Richardson
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Posted by Sandra Loosemore on August 18, 2008, 9:11 am
> I guess you didn't take the time to read the thread.
I did thread the thread. I went back now and found the specific
quotes I was taking issue with. In particular, these are pretty strong
and sweeping statements about other people's behavior, coming from
someone who admits she doesn't even understand debit cards:
> I think my point is that people who are using a debit card instead of
> a credit card are not adequately handling their finances. A debit card in
> the hands of the end user makes no sense whatsoever.
and
> I don't understand people *consistently* doing things that are not in
> their own interest. Using a debit card is probably the least of these, but
> it makes the list and is on topic in this forum.
When Ron pointed out that some people find debit cards useful for
getting cash in odd places at odd times, and you came back with a
series of replies that seemed very dismissive of that, with the
implication that because *you* don't need to get cash at odd places
at odd times, it's still not a valid reason for using a debit card -- we
should all just go to the bank once a month like you do:
> Going to my credit union to get sufficient cash takes as much planning
> as do the other things in life. We try to get a month's supply at a
> time, so we only have to do it once a month. I don't see how that
> should be a problem for anyone.
But isn't withdrawing a month's supply of cash all at once even less
optimal than using a debit card for incremental withdrawals throughout
the month? You're losing the float on that cash in the meantime.
And, just speaking for myself, as a single woman in the city, I'd feel
really uncomfortable walking around with that much cash on my person,
or keeping it in my home. (I've never been mugged or robbed yet, and
don't spend a lot of time worrying about it, but I do take
common-sense precautions, and this is one of them.)
So, please: using a debit card makes perfect sense for some of us.
It's a convenience, sure, and in the old days we did have to "make do"
by going to the bank in person. But taking advantage of convenient
new banking features that make life easier is not a sign of financial
irresponsibility, IMO. My time is worth something as well, after all!
Additionally, going back to address this complaint:
> The banks want you to use it because it increases their bottom line,
> but it seems to me that it has only increased prices for everything.
If you had your way and everybody went to the bank in person instead
of using debit cards to make ATM withdrawals, wouldn't *that* increase
prices, too? It sure costs the banks more to put human-staffed
branches everywhere than ATMs, and they'd have to find some way to
pass those costs on to customers. I'm not terribly up on the banking
business, but it seems like one reason why the internet banks are
offering better interest rates on deposits and lower fees on
transactions than brick-and-mortar banks is precisely because they
don't have those front-office costs and don't have to handle piles of
cash and coins themselves.
-Sandra the cynic
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to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
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