[GNC] Handling VISA Debit Accounts

[Mike or Penny Novack]

On 5/7/2018 8:45 PM, randix wrote:
> Did VISA debit cards do somethin' to you as a child, why are you pickin' on
> them (that reply is to no one in particular, only the thread, so pleeze, no
> one get defensive)?
>
> A debit card [to me] is a non-existent entity, it has no business having its
> own "account".
>
> My schwab checking account has a VISA debit card

THAT is what the question was about. YOUR debit card is associated with 
a checking account. That is one common type. But there are OTHER sorts 
of debit cards. There are ones associated with what are more like 
savings accounts (no checks, the debit card is used for all 
withdrawals). There are "free standing" debit cards (pre-paid debit 
cards) that are stand alone, associated with no bank account and which 
should be handled like "gift cards", just not tied to a particular 
vendor. And then there are "debit cards" associated to virtual accounts 
<< some agency might be adding so much per month to the debit card 
balance >>

YOUR type of debit card would/should have no existence in the CoA. Some 
of these other sorts (I will avoid the word "type") would.

Michael D Novack