Frequent Contributor
Posts: 364
Registered: ‎08-23-2011
Re: So.. How does the Paypal debit card work?

Actually I just thought of a better plan for if and when "Judgement Day" comes for us credit card fans.


My checking account is with Bank of America. I have the myaccess checking which is free for me with direct deposit. They also have a second checking account called an eChecking or something like that.


It is free if you never see a teller about it and enroll in online statements.


Is it possible to have two checking accounts with the same company? My plan was to open that second account and opt out of overdraft. Then when I travel move some money from my main checking account to the eChecking one and use it basically as a prepaid debit card with no fees. That way if it ever happens that my debit card number is ever hacked or stolen, I lose very little, if any money and my main checking account remains isolated.


Having a debit card linked to your main checking account just seems very risky.


Haha I have been watching the Terminator movies lately and the day credit card surcharges appear would feel like judgement day. I hope the current settlement is rejected and the banks and retailers work out something that doesn't involve surcharges. Lower the interchange fee and make rewards less generous, or give the merchant the ability to reject premium cards like Visa signature, etc because right now both the banks and retailers are fighting and both turning around and kicking the customer in the balls every chance they get.


What really makes me spit nails is when I read articles that say "Retailers and their customers" won today. Umm, no. Just retailers. The customer didn't win by having the opportunity to be charged extra.

FICO Scores: TU: 768 (Jan 2012), EQ: 755 (Jan 2012 Lender pull)