Skip to main content

Mainstreet Credit Union, Lenexa, KS

  • Accounts & Services
    • Savings
    • Checking
    • Investments
    • Youth Accounts
    • ATM/Debit Card
    • Mobile & Online
    • Visa Gift & Reload Cards
    • Other Services
    • Rates
  • Loans
    • Vehicle Loans
    • Personal Loans
    • Student Loans
    • Credit Cards
    • Home Loans
    • Rates
  • Resource Center
    • My Mortgage
    • My MasterCard®
    • Reorder Checks
    • Advice
    • Auto Avenue
    • Financial Calculators
    • FAQs
    • Other Useful Links
  • Discover Mainstreet
    • About Us
    • Join Us
    • Careers
    • Community
    • The Credit Union Difference
    • Mainstreet Talk
    • Annual Report
    • Locations/ATMs & Hours
    • Contact Us









Routing Number: 301079183

Advice

  • Credit and Debt
    • Credit
    • Debt
  • Money Management
    • Banking
    • Budgeting
    • Saving
    • Spending
  • Family Finances
    • Life Events
    • Insurance
    • Identity Protection
    • Kids & Money
    • Financial Crisis
  • Workplace Finances
    • Employee Benefits
    • Paycheck Planning
    • Retirement Plans
  • Home Ownership
    • Buying a Home
    • Mortgage
    • Home Equity
    • Refinancing
  • Paying for College
    • Saving for College
    • Financing College
    • Repaying Student Loans
  • Retirement Planning
    • Saving for Retirement
    • Social Security
    • Living in Retirement

Using a Debit Card

Using a Debit Card

Trying to cut down on your credit-card bills? Don't like to carry around large sums of cash? Then a debit card might be right for you.

Debit cards, in fact, have grown in popularity over the years. That is because they are so easy to use.

Consider a debit card an easy alternative to writing a check. When you go to your local grocery store, you can take out your debit card and pay the $80 for your groceries. You will not, though, have to pay that money back with interest as you would with a credit card. Instead, the dollars are taken immediately out of whatever bank account is connected to your debit card.

In essence, debit cards are like plastic checks, except you will not have to take the time to write a check while you are paying for your groceries, gas, clothing or any other purchase.

Usually, you'll have to enter a PIN, your personal identification number, when you complete a debit transaction. After you swipe your debit card through a reader, you'll be prompted to enter your PIN before the purchase is complete. This protects you in case your debit card is lost or stolen.

Make sure, of course, that your debit card's PIN is a difficult one for anyone else to guess. Don't, for example, use your birth date or street address.

Cautions

Debit cards come with an obvious benefit: If you use them as an alternative to credit cards you will not be running high amounts of credit card debt and the interest that comes with it. Moreover, with a debit card you will not have to carry cash with you that can be lost or stolen.

There are, however, some risks with a debit card. First, if you do not carefully track your purchases, you do run the risk of accidentally draining the account connected to your card. That could lead to expensive penalties from your bank. It might also lead to bounced checks, missed payments and late fees.

So before you swipe that debit card, make sure you have enough money in your account to pay for your purchases. Also, be sure never to let your account balance get low enough so that a $25 fill-up at the local gas station puts you at risk of emptying your account.

You should be careful, too, of thieves. If a criminal should gain access to your debit card -- especially one that only requires a signature to complete a purchase -- that thief can quickly empty your accounts. Keep an eye on your accounts for any unusual purchases. If you do suspect someone is using your card, immediately call your bank.

You can also protect yourself by not using your debit card in particular dangerous places. Security experts, for example, recommend that you only use your card at ATMs located inside banks or other buildings. Thieves can easily connect machines to ATMs located outside that skim your debit card numbers as you swipe your card. What's especially tricky about these skimming machines is that they often fit over the real card slots at ATMs. This makes them difficult to see, especially for consumers.

Gas station fuel pumps are another dangerous area; security experts say. Again, the problem is often skimming. Many gas stations are busy places, with cars driving in and out and people milling about. There may also be little supervision. Because of this, criminals can easily set up a skimming machine on your favorite station's fuel pumps.

Finally, be careful using your debit card to make an online purchase. If someone steals your information online, that thieve could gain instant access to your cash. Instead, rely on your credit cards for online purchases. 

Copyright

Related Content

Article

Exchange Rate Basics
Finding the Right Checking Account for You
Watch for Gift Card Scams
Getting Organized for Bill Payment
Automating Your Finances
Private Banking Basics
Avoiding Non-Sufficient Fund and Overdraft Fees
Using a Debit Card
Are Paper Checks Still Relevant?
Financial Basics for Service Members
What Do You Need in Your Wallet?
Savings vs. Money Market Accounts
A Financial "To-Do List" When You Move
Debit or Credit Card?
Digital and Mobile Wallet Basics
Balancing a Checking Account
What is a Cryptocurrency?
Money Transfer Options
Putting Money in a Certificate of Deposit (CD) Account
Peer-to-Peer Payment Tools
How Safe is Your Money?
The Benefits of Prepaid Cards
The Pros and Cons of Cash Advances
Going Cashless
The Basics of Mobile Payments

Financial Quiz

Banking Basics

Financial Tool

Balance Your Checkbook

Poll

What is your preferred method of payment?
Do you use a mobile banking app?
Do you use direct deposit?
How often do you use online bill payment?
Do you receive electronic statements instead of paper?
Do you use online banking?
How often do you check your account balance?

Mainstreet Credit Union, Lenexa, KS


  • Careers
  • Security
  • Privacy & Disclosures
  • NMLS Lender ID#: 465931




©

Mainstreet Credit Union.

Equal Housing Lender


You will be linking to another website not owned or operated by Mainstreet CU. Mainstreet CU is not responsible for the availability or content of this website and does not represent either the linked website or you, should you enter into a transaction. We encourage you to review their privacy and security policies which may differ from Mainstreet CU.