My ATM card was recent made into a "direct payment" card-- and I cut it up and sent it back!
I tend to keep a high balance in my checkbook-- (i also have high deductables on car and house insurance) and i do not want to have my ATM/Debit card "cloned" and my account cleared. Its was a big problem in California, on of the first states to begin to use ET POS. I use cash or credit cards. If my credit card is cloned, i am liable for the first $50-- I can afford that!.
What happened in CA was, in wascarwashes and other small businesses that work with "part time" help, and very little direct Management, the employees set up small cam corders in the drop ceiling tiles, to record someone pin number-- and then used the "print out of purchches (which included account numbers, but no "pins") and synced the two-- there are some places i am told where you don't even have to put in a pin! It swipe and go!
I also bank at Citi-- so there are thousand of branches-- so when i was in Japan-- i went "downtown" and used my ATM to get more cash. Citi doesn't add a fee if you use an other bank*, but can't void other banks fees. I rarely end up paying them, since in NY Citi has millions of branches-- including some that are just machine branches--no back services except ATM's.
*This is not a plug for citi bank-- i get great service because i have a "High Balance"-- which i think is weird! my high balance is the "Balance due" (on my mortgage) because its over $10,000, i am considered a "high level" user! It will be years before I fall back into the catagory of less than $10,000 in combined balances in my accounts! it not hard to have a balance due on a mortgage ove $10,000!
