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Are bank debit cards technically illegal?

Are bank debit cars technically illegal?

  • Come to think of it, yes. Bank debit cards are not legal. They should be government issued.

    Votes: 1 7.7%
  • No, bank debit cards are legal.

    Votes: 12 92.3%
  • Bank debit cards are technically illegal but they are crucial to the economy so don't rock the boat.

    Votes: 0 0.0%

  • Total voters
    13

Smeagol

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The constitution says congress is responsible for printing currency. The founding fathers had no way of envisioning the technology that allows for the use of "plastic money" with digital transactions across computer networks. Nevertheless, in 2025 bank cards are used more frequently than cash, having become the currency of choice of most consumers. Since these debit cards are not government issued, are they technically a counterfeit currency system?
 
Since these debit cards are not government issued, are they technically a counterfeit currency system?

Not even close. Debt cards are not "currency," they are a mechanism to electronically transfer money from one account to another account when making a purchase of goods and services.
 
The constitution says congress is responsible for printing currency. The founding fathers had no way of envisioning the technology that allows for the use of "plastic money" with digital transactions across computer networks. Nevertheless, in 2025 bank cards are used more frequently than cash, having become the currency of choice of most consumers. Since these debit cards are not government issued, are they technically a counterfeit currency system?

No they are not illegal.. the constitution is the problem.
 
Is a debit car what you use at the drive through?
 
No, all they are is a way to transfer money from your account. Debit cars on the other hand I do not know.
 
The constitution says congress is responsible for printing currency. The founding fathers had no way of envisioning the technology that allows for the use of "plastic money" with digital transactions across computer networks. Nevertheless, in 2025 bank cards are used more frequently than cash, having become the currency of choice of most consumers. Since these debit cards are not government issued, are they technically a counterfeit currency system?

Debit cards and credit cards are not really "currency" as such. Currency is quickly going the way of the buggy whip anyway.

And a lot of the money that Congress "prints" is actually just arranging electrons to increase the amount of money in circulation.

Just what is "money" anyway? Does it really have to have a physical presence?
 
The constitution says congress is responsible for printing currency. The founding fathers had no way of envisioning the technology that allows for the use of "plastic money" with digital transactions across computer networks. Nevertheless, in 2025 bank cards are used more frequently than cash, having become the currency of choice of most consumers. Since these debit cards are not government issued, are they technically a counterfeit currency system?

One of us must have gone through a time portal or something, I didn't know it is 2025.
 
One of us must have gone through a time portal or something, I didn't know it is 2025.

Sorry. Fat finger syndrome.
 
The constitution says congress is responsible for printing currency. The founding fathers had no way of envisioning the technology that allows for the use of "plastic money" with digital transactions across computer networks. Nevertheless, in 2025 bank cards are used more frequently than cash, having become the currency of choice of most consumers. Since these debit cards are not government issued, are they technically a counterfeit currency system?

No, because you aren't paying anything at all with your debit card . . . Merely authorizing someone to release the gvmt issued money behind it.
 
The constitution says congress is responsible for printing currency. The founding fathers had no way of envisioning the technology that allows for the use of "plastic money" with digital transactions across computer networks. Nevertheless, in 2025 bank cards are used more frequently than cash, having become the currency of choice of most consumers. Since these debit cards are not government issued, are they technically a counterfeit currency system?

2025? :shock: In New Hampshire it's only 2015.

To answer your question, no they are not illegal. Debit cards aren't currency printing. They are a means for you to transfer funds via ACH from your account to an approved merchant.
 
The constitution says congress is responsible for printing currency. The founding fathers had no way of envisioning the technology that allows for the use of "plastic money" with digital transactions across computer networks. Nevertheless, in 2025 bank cards are used more frequently than cash, having become the currency of choice of most consumers. Since these debit cards are not government issued, are they technically a counterfeit currency system?

I can't see that far into the future anymore... sorry. We will have to wait.
 
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