Pull out your ATM card. A thief who has a copy of a debit card restaurant receipt can drain your checking account, even if your card itself or PIN hasn't been stolen. Worse, under the law, your liability is higher for debit card fraud than for credit card fraud, although VISA and Mastercard have announced that their issuing banks are voluntarily reducing liability, due to pressure from other consumer advocates. Worse, regardless of your ultimate liability, with ATM debit card fraud, the thief has your money, from your checking account, and you still have to fight to get it back from the bank.
Some banks issue one, some the other.
The cards also offer consumers convenience, but at a price. If the thief drains it, you have to fight with the bank to get your own money back. Meanwhile, your other checks could bounce and you could face bounced check fees, bad credit reports, cash flow problems and other hassles. Reinvestigation timetables under the law must be toughened, banks should issue provisional refunds quickly and banks should be required to make consumers whole after fraud occurs by restoring credit reports, sending apology letters to creditors, etc. Banks should be prohibited from mailing unsecure cards that do not require affirmative activation.