Can we talk about why some people think digital money is totally private?

I keep hearing younger folks say that using Venmo or Apple Pay means nobody can see what you buy. That is just WRONG. I learned this the hard way back in 2018 when my bank froze my account for buying $400 of electrical supplies from a new vendor. They flagged it as suspicious and asked for receipts. The bank saw every single transaction. Digital records are WAY easier to track than cash, and that bothers me. Has anyone else had their bank step into their business like that?

2 comments

2 Comments

vera1956d ago

Told my bank exactly what I was doing after that first freeze. Started calling ahead before any big purchase or weird vendor. It's annoying but they loosen up once they see your pattern. Tbh digital money ain't private at all, just convenient. Cash is still the only real private option if you ask me.

patricia2625d ago

@vera195 hit the nail on the head talking about calling ahead. I had a similar headache last year when my card got declined at a craft store for a $60 spool of yarn. Had to call the bank and explain I was stocking up for a charity knitting drive. Felt like they treated me like a criminal for buying yarn. You'd think they'd have better things to do than watch every penny we spend.