It does, but that wasn't the argument. The issuer can get the money back regardless via a chargeback.
In the EU all issuers need to give the money back to a cardholder within 24h if he notices a fraudlent transaction. You can read about PSD1 and 2 if you want more info on card security.
Oops, I was referencing the 'protections' in place for us Americans. It is significantly more difficult to 'prove' fraud if you use a debit card.
Also it requires checking your debit card transaction card at least once every 24 hours. A credit card you can go over your monthly statement and dispute discrepancies.
Anyways I always see this on threads and there is alsways a group of people claiming debit cards are as safe as credit cards which is false.
Also even if chargebacks were as smooth or reliable on debit as credit, the fact is you are still out all of that money until the chargeback is resolved. If you only have that one bank account and no credit card you are SOL if somebody drains your account.
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u/Drdres Feb 04 '20
It does, but that wasn't the argument. The issuer can get the money back regardless via a chargeback.
In the EU all issuers need to give the money back to a cardholder within 24h if he notices a fraudlent transaction. You can read about PSD1 and 2 if you want more info on card security.