Best option for money while working out of town

[Charles]

Thanks guys for the info. He will be work 7-12 so he want have much time to do anything else but work. I just don't want some jackarse drain his account while he is working. He is responsible with his money and is saving so he can finish school with no student loans. He is working for a boring company pulling large diameter pipe.

His bank has security and protection measures in place. Not much to worry about.

How many times has your account been drained by some jackarse?

[hunter1313]

My account had been compromised twice and the bank caught it before it had gotten bad. Just took some time to get it cleared up. Sorry we don't have many banking options in the small town that we live in.

[rswell2]

There is absolutely no reason to apologize. Unfortunately, this is just a byproduct of society getting away from cash. It happens to everyone, honestly, at some point, in one form or another.

This website may ease some of your worries and give you some talking points for your son:

https://www.consumer.ftc.gov/articles/0213-lost-or-stolen-credit-atm-and-debit-cards

As for CCs, there are some perks regarding safety built in. This article is a little old and is pretty basic/general, but it would give you and idea of what to ask his CC company about (if he goes that route). It's about 6 years old, so the information could be different now, but it's a start.

https://www.forbes.com/sites/moneybuilder/2011/07/08/10-credit-card-perks-you-may-not-know/#6e8923be22c8

The thread seemed to take a bit of a turn toward how to parent an 18-22 year old. I have no dogs in that fight, yet. I can’t tell you how or what is the best way to teach your son about money management. I’m not the best at it myself.

As for money “Safety”, I’d just see if you could sit down from someone at whichever bank you decide to go with and have them explain their particular policies for eFraud.

[Bowtech1233]

Most all banks should offer some type of a transaction alerting app / tool tied to debit cards. He should be able to monitor all activity this way. This should help ease these concerns I believe.

[BlackoutRam2500]

I agree with you that a CC isn't the best idea. Yes, at some point he should start building his credit but it doesn't have to be today.


If I were you I would go into the bank and open a savings account for his paychecks to be deposited into with DD if available through his employer. Your bank should have online account access and I would link his checking account to his savings account so that he could transfer money as needed between the two accounts.... maybe starting with $500 in that checking account. Hell, he could even try to get the employer to break up his money and deposit $1,500 into his savings account and $500 into his checking account every week. That would also help him with saving his money. For those who say transferring money between the two accounts will hurt when trying to get a loan, we all know this, but the person we're using this method for is 20 years old and still in college. Good luck!

[DEG]

I opened a second checking account while I was on the road. Used that debit card. Transferred funds as needed from the main account.

[westtexducks]

Regular old debit card and a credit card. Had a discover card shortly after going to college. Use it like a debit card and pay off every month and helps build credit history. Plus like mentioned above gives a nice buffer for emergencies I know mine had saved my hide a few times. Just be sure to pay it back down quickly.


Sent from my iPhone using Tapatalk

[Landrover]

Debit card is simple enough. My daughter has carried one since she was 14. Her first year at Auburn was with the same card. NO issues with day to day things or even buying her airplane tickets for travel. As a family we don't own ANY credit cards.........just simple debit cards from our banks.

[CaptainDave]

Debit card from a major bank or credit union will do just fine.

With that said, there's no question a major credit card will have better fraud protection. Not to mention, the individual transactions are not linked directly to your bank account.

I use my Amex card almost exclusively for daily purchases. Debit card is for back-up only or a place like Costco that doesn't accept it.

[GrapeApe]

A debit card will work, but why not let the card work for him? Get him a credit card from Bass Pro, Academy or Cabelas and use it for absolutely Everything. He will learn the responsibility of paying his bills on time and at the end of the year, his points should add up to a nice new gun or some other hunting/fishing gear.

[dmk]

Problem w/ a debit card and traveling is hotels. They will put a hold on the acct. it may stay on hold up to 4 or 5 days after he checks and has made a payment. If he's got $ it may not hurt, but it could cause a problem.

[alec73065]

I travel a lot for work and I have had ALL my cards compromised twice without them ever leaving my possession in the past 12 months. I now own an ID stronghold wallet and I have ALL my current credit and debit cards set up with an alert that goes to my email if I have a charge over $25 hit any card . I did this through my banks or CC holders. I do all transactions online using my cell as a hotspot and not using whatever free wifi is available. I assume someone scanned my wallet when I was in an airport and they started systematically going through each card running up charges. Even my Home depot and Cabelas card. I can now shut them down by confirming each charge as it comes through email. It has not cost me a penny for any of the times my CC numbers have been stolen but I bank with a credit union and getting a new personal card if I am out of town is a pain as you have to go to the branch to get one. The actual CC's will be mailed but some took as long as 2 weeks to replace. My main travel card was great and overnighted a new card to me in Canada with no additional charge.
I would get him a prepaid CC and get whatever he needs to get through the month on there and have the payments automatically deducted from his checking account. Most hotels put a hold on a debit card which can be from 5-10 business days to clear. You only get a certain amount of online transfers a month from savings to checking or vice versa and once you hit that number you have to go to a bank to make the transfer, again a pain. It may also help if any time you use a debit card do it as a credit transaction. . Good Luck to your son !