I'm torn. I can't decide. In my experience it hasn't worked the way it is supposed to. At least 3 times I've been blocked from using my debit at a checkout due to "fraud protection". It's frustrating, it's embarrassing, and it's infuriating!
Yet there was a time when my credit card number was stolen and duplicated. The duplicated card was being used all over a city I've never been to. The bastards were running all over making small purchases. I noticed this and reported the issue. They didn't catch it, I did.
This last time I was prohibited from accessing my funds, I was at a grocery/everything store that I frequent. I'm there once/week or perhaps every other. We've been making some extra purchases lately - birthdays, spring cleaning, etc. And so the bill is a bit higher, bit not much.
I actually have had no say in this "protection" they just block a purchase, inconvenience everyone around, then call and demand my identity and annoyingly have me verify purchases or something else. This last time I got a text at 1am while I was asleep - long after the attempted use. I replied when I was awake next day and saw the text. Why did it take 5 hours to get the text?
I've had several frustrating phone calls with the fraud people. I'm almost ready to call it quits and use cash. Is it worth the inconvenience for some added possibility of security? Is this really a feature or an imposition on how I can use my money? Even if it is making things more secure, is it worth the cost? It would be great if I had some measure of control over this "fraud protection", then I might be willing to call it a feature. Right now its just some other folks sitting around looking at data deciding how and when they can block my purchases. We as humans can do better, I'm sure.
Looks like I'll be changing banks soon at least and try my luck somewhere else.