Which bank is most convenient for van life?

[rockloper]

All of my bills are either direct withdrawal thru a local bank or can be paid on line. Is there a preferred nationwide bank that can be used to get cash using their debit card?

 

[WanderingRose]

You can get cash back at any WalMart in the country with your debit card, which is what I do, wherever I am.

Most allow a cash back of up to $100.

 

[jacqueg]

All of my bills are either direct withdrawal thru a local bank or can be paid on line. Is there a preferred nationwide bank that can be used to get cash using their debit card?

It's possible that your small local bank belongs to some kind of wider network that would allow you fee-free ATM withdrawals. Ask them.

Or just use your debit card for cash back. There's usually a limit on how much you can withdraw this way. Just go to more stores!

I've belonged to the same credit union for 30+ years now, in a city and state where I haven't lived in 15 years. Most credit unions belong to a nationwide network that allows for fee-free ATM withdrawals at specific locations. Since credit unions are pretty common in cities and towns, I have few problems finding one that belongs to the same network that mine does.

 

[rockloper]

You can get cash back at any WalMart in the country with your debit card, which is what I do, wherever I am.

Most allow a cash back of up to $100.

Thanks for your reply. Don't they charge for using it tho?

 

[WanderingRose]

No charge, just select cash back and amount at checkout.

Most grocery stores also offer this option, tho limit the $ amount.

 

[justanothermaroon]

I've stopped needing to write checks and have no need to go into a physical bank, so I have a Discover 'checking' account with debit card and a Discover credit card. They have no fee ATMs and can add cash for no fee at Walmart.

 

[lonerwolf52]

I have a bank account at home(Ky) and a lot val Wells Fargo account. I have two debit cards. Sometimes you lose a debit card or the bank ***** it down or, it gets hacked. Always carry two debit cards. Especially if you need cash in hand.

 

[leef]

All of my bills are either direct withdrawal thru a local bank or can be paid on line. Is there a preferred nationwide bank that can be used to get cash using their debit card?

I have checking with Fidelity. They reimburse fees from any ATM. When you withdraw cash just accept the charges, and a few days later you will see a credit for the amount of the fees.

 

[VanFan]

No charge, just select cash back and amount at checkout.

Although I can't find the details in their FAQ's, I believe Family Dollar does charge for cash back. At any place where there is a charge, you will be asked to acknowledge/authorization the charge on the keypad before the transaction is finalized.

 

[Morgana]

I never use my debit card except at a credit union or bank ATM. I'm not sure whether things may have changed, but there used to be pretty strong advice against using them for general shopping and cash-backs.

The advice I got (at vaguely remembered cybersecurity seminars within the last 10 years -- sorry, I can't cite a source) was that they were just too vulnerable to fraud. Something to do with the fact that when you use a debit card, the money comes straight out of your bank account, while with a credit card, people have to jump through a few more hoops to get at that money. So if there's a fraudulent charge on a debit card, your money is gone and you have to scramble to try to get it back, but if the same thing happens with a credit card, you can challenge it, the credit card company does most of the scrambling, and the money doesn't leave your account until the charge is verified. I've even had a credit card co. call me and say "hey, this charge is really inconsistent with your purchase history -- was it you?"

I know not everybody has or wants a credit card, but it seems like, if you prefer a debit card, with a little effort you can usually find a safe, fee-free, bank-affiliated ATM to use it at. Sometimes a little inconvenience is worth the payoff in extra security.

It's possible that things have changed and debit cards are better protected now. I don't use that much cash and it's never been a problem finding a safe no-fee ATM, even 1500 miles away from my credit union, so I've never had to revisit the issue. I won't say "don't do that" but I will say "make sure you know the risks."

 

[tradesman]

I never use my debit card except at a credit union or bank ATM. I'm not sure whether things may have changed, but there used to be pretty strong advice against using them for general shopping and cash-backs.

The advice I got (at vaguely remembered cybersecurity seminars within the last 10 years -- sorry, I can't cite a source) was that they were just too vulnerable to fraud. Something to do with the fact that when you use a debit card, the money comes straight out of your bank account, while with a credit card, people have to jump through a few more hoops to get at that money. So if there's a fraudulent charge on a debit card, your money is gone and you have to scramble to try to get it back, but if the same thing happens with a credit card, you can challenge it, the credit card company does most of the scrambling, and the money doesn't leave your account until the charge is verified. I've even had a credit card co. call me and say "hey, this charge is really inconsistent with your purchase history -- was it you?"

I know not everybody has or wants a credit card, but it seems like, if you prefer a debit card, with a little effort you can usually find a safe, fee-free, bank-affiliated ATM to use it at. Sometimes a little inconvenience is worth the payoff in extra security.

It's possible that things have changed and debit cards are better protected now. I don't use that much cash and it's never been a problem finding a safe no-fee ATM, even 1500 miles away from my credit union, so I've never had to revisit the issue. I won't say "don't do that" but I will say "make sure you know the risks."

Debit cards are also protected like credit cards these days. We've had fraudulent charges and our bank always credits back usually the same day.
Of course with a credit card if someone uses it fraudulently none of your real money has been used yet.
A good idea is to have another account linked to the debit card so you don't keep large amounts in that account and just transfer once a week or whatever suits you.
A debit card is also a good way to get cash back for free as others have mentioned, walmart, grocery stores etc. With a CC you can't get cash without paying a fee.

 

[WanderingRose]

there used to be pretty strong advice against using them for general shopping and cash-backs.

I have used my debit card all over the country for 20 years or so, with no problems and no warnings from my banks, ever, that I should not do so.

Where I have had a card hacked, which has occurred a couple of times and the last time at a fuel pump 5-6 years ago, it has been the credit card but immediately caught by my card company with no cost to me.

 

[rockloper]

Thanks for all the response!

 

[Morgana]

No, I was not talking about the kind of risk where a bank would tell you not to do it. The grocery store manager won't stop you from leaving your purse unattended in your shopping cart either. There are different kinds of risk, and some of it we're expected to manage on our own.

You made exactly my point about the extra safety margin with credit cards.

Cybersecurity issues are always changing -- usually for the worse, but maybe debit cards have gotten safer. If so, great; but specifics would be good.

OTOH if anyone feels like they don't need to know, that's your choice. The point is, there is plenty of information out there on good safety practices for both credit and debit cards. Anyone can access it. If you're not sure how, a librarian can help. No one approach is right for everyone, but everyone has the option to be informed and be in charge of their own finances.

 

[rockloper]

I never use my debit card except at a credit union or bank ATM. I'm not sure whether things may have changed, but there used to be pretty strong advice against using them for general shopping and cash-backs.

The advice I got (at vaguely remembered cybersecurity seminars within the last 10 years -- sorry, I can't cite a source) was that they were just too vulnerable to fraud. Something to do with the fact that when you use a debit card, the money comes straight out of your bank account, while with a credit card, people have to jump through a few more hoops to get at that money. So if there's a fraudulent charge on a debit card, your money is gone and you have to scramble to try to get it back, but if the same thing happens with a credit card, you can challenge it, the credit card company does most of the scrambling, and the money doesn't leave your account until the charge is verified. I've even had a credit card co. call me and say "hey, this charge is really inconsistent with your purchase history -- was it you?"

I know not everybody has or wants a credit card, but it seems like, if you prefer a debit card, with a little effort you can usually find a safe, fee-free, bank-affiliated ATM to use it at. Sometimes a little inconvenience is worth the payoff in extra security.

It's possible that things have changed and debit cards are better protected now. I don't use that much cash and it's never been a problem finding a safe no-fee ATM, even 1500 miles away from my credit union, so I've never had to revisit the issue. I won't say "don't do that" but I will say "make sure you know the risks."

Interesting!

 

[tradesman]

No, I was not talking about the kind of risk where a bank would tell you not to do it. The grocery store manager won't stop you from leaving your purse unattended in your shopping cart either. There are different kinds of risk, and some of it we're expected to manage on our own.

You made exactly my point about the extra safety margin with credit cards.

Cybersecurity issues are always changing -- usually for the worse, but maybe debit cards have gotten safer. If so, great; but specifics would be good.

OTOH if anyone feels like they don't need to know, that's your choice. The point is, there is plenty of information out there on good safety practices for both credit and debit cards. Anyone can access it. If you're not sure how, a librarian can help. No one approach is right for everyone, but everyone has the option to be informed and be in charge of their own finances.

Here's three:

-Wells Fargo Debit and Credit Cards come with zero liability protection. You won't be held responsible for unauthorized card transactions, as long as you report them promptly.

-You're protected by Bank of America's $0 Liability Guarantee: Fraudulent transactions made using Bank of America credit and debit cards are covered by our $0 Liability Guarantee as long as you report them promptly; please visit our account and card security page for additional details.

-Special Provisions for Card Transactions (Zero Liability Protection): Chase will reimburse unauthorized debit card transactions when reported promptly.

 

[Happy Camper]

If you don't need to make cash deposits you can use just about any bank you want. There are solid online only bank options that have access to large ATM networks that you can use fee free.

If you plan to get a loan at a later date I would recommend a credit union. They take your banking into consideration when assessing a loan, and generally have better rates. And most credit unions are part of a larger credit union group. They let you use other credit union locations as branches of their own where your can do most banking functions.

Regardless if which banking option you choose, I have very strong recommendations I have given to clients, friends, and family since the 90s. I've been in tech a long time, and there are ways to limit your liabilities simply.

I have done variations of this for a long time, but this is my current setup:

Part 1. I bank with a credit union. I have a debit card with them that is of course connected to my checking and savings. I very rarely use this card. If it's compromised, there is potential for all funds in the connected accounts to be at risk. I do understand that some banks are great about how they handle these cases. But it's easier to avoid it in the first place. Sometimes it's a slog to deal with. And your time and money can be affected as well.

Part 2. This has changed over time, but this is the simplest setup currently for me. I made a cash app account, and have a debit card with the app. Yes, it connects to my credit union account. But I control the interaction, and can decide how much to transfer to the app. I keep a small amount in my cash app account. Enough for buying small things here and there, but not much. Maybe $20-$50. I use the cash app debit card to buy everything I use a debit card for. The safety factor is there the card can't access my bank balance directly. I can only use the amount in my cash app account. Transferring more money into the app takes seconds if I need to make a larger purchase. And you can always take excess money out of the app and put it back into your bank account.

If the card gets compromised, the only money that is at risk is the amount in my cash app account. So I control the risk.

It's simple, effective, and it works. Previously I would use reloadable debit cards, which was clunky. This setup streamlines things, and it's always smooth sailing.

Edit: Please feel free to ask me questions regarding this. I encourage it.

 

[quilting22]

Interesting!

I have used Chase bank since about 2000 and twice people have tried fraud on my credit card. Chase has been proactive and AMAZING ! But l really appreciate the info in this post...thank you.

 

[quilting22]

I have used Chase bank since about 2000 and twice people have tried fraud on my credit card. Chase has been proactive and AMAZING ! But l really appreciate the info in this post...thank you.

I also have a different debit card and lm very glad for the reminder of the increased risks of a debit card. I really like the sharing of info and opinions on Van Life forum.

 

[maki2]

Although I can't find the details in their FAQ's, I believe Family Dollar does charge for cash back. At any place where there is a charge, you will be asked to acknowledge/authorization the charge on the keypad before the transaction is finalized.

Yes they do charge for cash back as does dollar general, dollar tree and the 99 cent stores. The fees though are often based on how much cash back want. Smaller fees for smaller amounts.