What are the disadvantages of using debit cards?
* Although accepted at over 10.5 million locations around the world, debit cards cannot be used in all situations (making cash and checks necessary in some situations). * You must be certain of your checking account balance, as it might be possible to make purchases beyond the funds available causing overdraft fees * Some merchants may accept the debit card, but place a hold that exceeds your actual purchase amount on the card. You may find this with auto rentals, hotel reservations and with some gas stations. The “hold” may be placed for several days and may cause other charges to be declined.
