Disadvantages of ATM card

Answer 1

Disadvantages

1. With a debit card you must keep accurate records. You must record each transaction so you will know what your account balance is at all times. If you do not keep records you run the risk of overdrawing your account which will result in bank fees. Not to mention the embarrassment you will suffer at the checkout line when your card is denied.

2. If your child needs lunch money you can't just hand them the debit card. You have to drive to the nearest ATM machine to access a few dollars to send to school with your child.

3. Some ATM machines charge a fee for their use and then your bank adds another foreign ATM charge (if the machine is not from your bank). Know ahead of time what the fees are and where you can access your money for free if possible.

My grandmother prefers to stick to her cash. I value the convenience of the debit card. If you plan carefully, keep a few dollars around for emergencies, stay organized with your records, and stay away from ATM's that charge a fee, you will have no problems sticking with your debit card. If, however, you are terrible at keeping track of your spending, I would recommend you stick with cash