Your debit card - know this risk?

You probably have a debit card; right? You know - the card that allows you to stop writing checks and just use plastic in place of checks?

When you use your debit card, the money comes right out of your checking account. Better and faster than writing checks. All you have to remember is to enter each card use promptly in your checkbook register (unless you are Daddy Warbuck's).

Is there any risk when you use your debit card? Sure, you might blow right past zero on your way out the door at BestBuy. You can spend more than the balance in your checking account, but you might already know that. It creates a nice payday for your bank or credit union, to the tune of $29-39 for the overdraft.

But there is another risk. A bigger one. One much more dangerous to your financial health.

What if you lose your debit card? Or if it is stolen?

"Hey, no problem. The finder (or thief) won't know my PIN."

Think you are safe? Think again!

A finder or thief might go into a store and present your debit card to a busy cashier and tell him (or her) to ring it up as "credit". In fact, the cashier might even help out by asking, "Debit or credit?" Your PIN is not needed if the sale is rung up as "credit".

It's not really "credit", because the amount is going to come out of your checking account balance, but after a few days - not immediately. Read - the thief has some breathing room, like for more purchases against your account!

You might end up with a little protection from your banking institution, if you complain about fraudulent use of your debit card. Call your bank now, before the fact, and ask about your bank's rules. Get the name of the person who answers your questions, and put the information, name, date, time, phone number in that file you keep for bank records (you do keep such a file, don't you?).

You might consider ordering a new debit card. Instead of writing your signature on the back of the card, write "SEE IDENTIFICATION". This might or might help you. The cashier will have to ask for the card, turn it over and then comprehend what that means. This is asking a lot of many minimum-wage cashiers.

Now, in all fairness to cashiers in Woodstock, especially at Farm & Fleet, some are really well-trained. I have a unique signature, and the sharper cashiers are asking me about it. My congratulations to them!