Why was my debit card denied?
This is a question you may have and the answer might be one of several reasons.
- Insufficient funds in your debit card account. This is perhaps the most obvious reason for a decline at the point of transaction. What you might not know is that banks used to be able to allow the transaction to go through even if you didn’t have enough funds in your bank account to cover it. They could then charge a fat overdraft fee, as much as $30 a pop, and you could be hit many times before you realized your error. Now, you have to opt in to overdraft protection. So why do it? Don’t.
- Your bank could be doing a fraud check on your account. This freezes all transactions until you contact the bank and verify recent charges. They are actually freezing your card to protect you from a thief quickly draining your account with purchases you did not make because your card was stolen.
- Debit Card is expired. Check your expiration date. This is a commons scenario if you didn’t realize that your card was expired. Perhaps you received a new card in the mail but tossed it thinking it was junk mail.
- Computer glitch. If you own a personal computer, you know how computers can sometimes hang up or otherwise have a hick up. Even card reader terminals and the computers attached to them can have a glitch that requires a reboot. Sometimes the glitch is somewhere else along the technology chain. This is why it is good to have a couple of different cards at your disposal or some cash.
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