Protect your debit cards like cash

Why is it when you purchase something with your debit card, the money comes out of your account immediately - usually before you can even make it back to the car?

And, why is it when you return something, it takes up to three days to get a credit back?

My mom recently was shopping in Birmingham and saw a sign posted in a store that said it could take 10 days to get a refund when using a debit card.

According to AARP, when purchasing with a debit card, the card reader electronically contacts your bank and subtracts the amount from your account.

If it's this easy, why can't I receive a refund just as quickly?

Checkout lines move much faster using a debit card instead of checks. I love the convenience, especially when it comes to purchasing gas or using a self-checkout.

Using debit cards also is a good way to pay for purchases without having to pay interest, as you would if using a credit card with an outstanding balance. You can even use your debit card to get cash back when you make purchases at a store.

What's the bottom line? Since a debit card payment is just like writing a check, you should always keep track of how much money you have left in your account to avoid overdrawing the account and incurring fees.

My only complaint about using a debit card is getting refunds. If this problem were fixed, I wouldn't even bother using checks at all - except for rent, of course.

AARP offers several useful tips when it comes to debit cards:

Protect your debit card

• A debit card is like a blank check, so you need to guard the card and the account number carefully against loss or misuse.

• If your card is lost or stolen, or if someone is using it fraudulently, call your bank immediately. Follow it up with a letter.

• Thieves don't even need your card. As long as they have your name and card number, they can order goods by mail or over the telephone, even when you still have the card.

• Holding on to your debit card receipts and check them against your bank statement each month.

• Memorize your PIN but don't keep it with your card. Don't choose one that a smart thief could figure out, like your phone number or birthday. Never give your PIN to anyone.

What if your debit card is lost, stolen or misused?

• Act quickly. The most you can lose is $50 if you report to the bank or credit union that your card is lost or stolen within two days of when you discover the loss. Your liability increases to $500 if you report within 60 days after you receive your bank statement.

• If you don't to notify your bank within 60 days after you receive your bank statement, your liability is unlimited. You could lose all the money in your account. Check your bank statements carefully and promptly for charges you didn't make.