The Best Debit Card Sources

Debit-card sources should go beyond just listing debit-card issuers. The best sources of information help consumers determine what type of debit-card services are available and what fees they should expect to pay. Consumers also should understand what their responsibilities are if their debit cards are used without their consent.

Debit-Card Issuers

The websites of card issuers are good sources for information if you're shopping for a debit card. Card issuers' sites will have up-to-date information about terms and services they provide. For example, the Visa debit card site explains how customers can use their debit cards to pay their bills. Visa also promotes what it calls an e-commerce fraud detection system. Visa cardholders are alerted if the system detects a change in their typical spending patterns that may point to fraudulent activity.

Types of Cards

You can compare several debit-card issuers' offers at Bankrate.com. The site also provides information on the types of debit cards that are available and what to look out for when using them. Some people get prepaid debit cards because they can't open traditional bank accounts due to past financial problems. Prepaid card issuers require cardholders to deposit money into an account. The account is linked to the debit card, which is used to make purchases up to the amount of the deposit. However, Bankrate.com warns consumers to avoid the high fees that some prepaid card issuers charge by comparing fees listed in issuers' terms.

Cardholder Liability

The U.S. Federal Trade Commission explains the Electronic Fund Transfer Act on its website. It's important for debit-card users to be familiar with the EFTA because it outlines users' liability. For instance, the amount of money you would be obligated to pay if your debit card is stolen and used for fraudulent transactions depends on how quickly you report the theft. The EFTA says a cardholder can't be held responsible for any unauthorized transactions if the theft is reported before the card is used. However, people who don't report such thefts they discover within two business days may have to pay up to $500 because of unauthorized transactions.

Consumer Alerts

"Consumer Reports" and other types of consumer-focused publications and websites are good sources for keeping up with abuses, scams and other issues associated with debit cards. For example, "Consumer Reports" notes on its website that it found a prepaid debit card for teens that included 15 potential fees in 2009. "Consumer Reports" says another prepaid debit-card issuer charged cardholders $1 just to speak with a customer service representative.