I had $50 in venmo, which I used to purchase groceries, because my bank account is currently negative.

Instead of using the $50 in my bank account, instead, a week later the $50 came out of my bank account, not touching the Venmo balance at all.

So now I have an overdraft fee, effectively meaning I paid 1.5 times for those groceries.

I don’t have “overdraft protection,” I’ve told my bank I don’t want overdrafts to go through, but fuck me for being poor I guess.

  • lmmarsano@lemmynsfw.comEnglish
    1·
    15 hours ago

    Credit cards and debit cards can be disabled at a whim. Prone to being fucked up by computer error

    That’s the beauty

    • if 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.