Posts Tagged ‘debit’

Frank Abagnale Jr: No Debit Card

Posted by admin on Tuesday, February 18, 2020

Frank Abagnale Jr Money Quote saying debit cards are riskier than credit cards because someone could access your cash, not the bank’s money. Frank Abagnale Jr said:
 
a debit card is certainly and truly the worst financial tool ever given to the American consumer. Why? It’s simple: Every time you use one, you put your money and your bank account at risk Quote
 

“Never, ever use a debit card….. a debit card is certainly and truly the worst financial tool ever given to the American consumer. Why? It’s simple: Every time you use one, you put your money and your bank account at risk” — Frank Abagnale Jr.

 
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Aaron Klein: Slow-Clearing Bank Settlements

Posted by admin on Thursday, October 6, 2016

Aaron Klein Money Quote saying low-income consumers subsidize wealthy and must pay to use their own money. Aaron Klein said:

Lower-income Americans, who disproportionately use cash, prepaid cards or debit cards, get little to nothing and are in effect subsidizing the wealthy through the payment system. They also deal with a slow clearing and settlement system that causes additional expensive overdraft fees
— Aaron Klein

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