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RE: Do you use a Bitcoin Debit Card?
Why cant you segregate you bank funds i have a incoming account, a savings acc,a debit acc,a global bebit acc for use when i travel overseas that i load up when my dollar is good against the currencies im going to travel to and a credit acc all of theses i can transfer to and from in the one bank account .
I guess it depends on the bank.
You cant generally segregate or tag your funds into very specific buckets. My current bank for instance only lets you open at most 2 accounts; a savings account and a current account. I couldnt have one called "car fund", another called "holiday fund", another called "christmas fund". Do you see where I am going.
With the copay app you can even have multisig versions of these "funds" which is really interesting. Separating your funds like this also means that if your using something you dont fully trust like online purchases of if your travelling and there is a risk of your card being skimmed you can just expose that segregated fund and not your entire bank account which often is accessible via your bank issued debit card.
Yeah i see were your going and i agree .maybe the banking here is different my bebit card is only used for online stuff and l only load the amount im going to spend .my every day spending card has no chip so im not sure how it could be skimmed .but i have always worried about the credit cards getting skimmed.
Debit cards can be copied stolen or skimmed with or without chips as easily as credit cards. It happened to me about a year ago. My account was emptied. My bank covered the loss but it was only a small amount. I don't know if they have limits on what they would cover or not. My bank was really nice about it but this may not always be the case. They could blame you for not reporting a stolen card in time for example. In my case I didn't even know my card details had been stolen.
As I said at the start of the post though maybe I am just grasping at straws for use cases of bitcoin :)
Yes it happened to my parents a few years ago got done for 8 grand the bank paid them back but it took a few weeks to get the money . Sorry do you mean by skimming that the card reader has been replaced with a fake one or when some one uses a rfid device when they walk past you. In Australia the government will cover up to $ 250,000 grand i think for each account holder if the bank goes under .but not all banks have this protection. So may be the banks might work to that sort of figure
What i am referring to are where machines that copy your card. It can be atms or pos devices. I haven't encountered NFC devices copying your card yet thankfully but where I am based a lot of atms were stealing card info from people. I assume that is how I was scammed a few years ago as my card wasn't stolen.
When your just using you're card over the net or phone to pay for things there is a whole host of other ways to scam you.