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Comment on Venmo overdrafted my bank rather than use the balance in my account

A_Random_Idiot@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

ATM networks are typically for withdrawing money without a fee.

I dont think I’ve ever seen one that lets you deposit your cash at, for example, a gas station atm or anything… Feels like there’d be way too many liabilities… but who knows, maybe there is one that lets you.

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lmmarsano@lemmynsfw.com ⁨3⁩ ⁨weeks⁩ ago
More than maybe one. Some also accept deposits through stores. I’ve never used them or needed to.

It was easy to adapt away from cash, and I prefer the safeguards of credit & mobile pay.

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- A_Random_Idiot@lemmy.world ⁨3⁩ ⁨weeks⁩ ago
  No thanks, I prefer cash. Credit cards and debit cards can be disabled at a whim. Prone to being fucked up by computer error, don’t work when the internet is down, or during a disaster with no power.
  
  Cash always goes through, though. Cash will always remain king.
  
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  - lmmarsano@lemmynsfw.com ⁨3⁩ ⁨weeks⁩ ago
    
    Credit cards and debit cards can be disabled at a whim. Prone to being fucked up by computer error
    
    That’s the beauty: my card goes missing, I can lock it. Unauthorized charges can be reversed. I’m alerted of any charge immediately. Cards extend warranties on purchases & provide purchase protections.
    
    don’t work when the internet is down, or during a disaster with no power.
    
    Unless you carry around a huge supply of cash at all times, you’ll be in the same bind withdrawing cash: ATMs & account ledgers run on power & networks.
    
    Cash always goes through, though.
    
    That’s also a problem: anyone can use my cash. If they steal it, I have no way to disable it, and it’s more difficult to recover. If I lose it, it’s most likely gone.
    
    Cash will always remain king.
    
    Not in terms of security or recovery.
    
    I could withdraw cash, and carry it around, but then it won’t earn high interest.
    
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