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Old 05-05-2008, 02:11 AM   #21
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Most businesses over here do not accept cheques any more. It is cash or card. I must admit that I write very few cheques now - the estate management fee, the boys swimming tuition and a few bills that do not have electronic payment. I also use them for paying into our savings accounts.
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Old 05-05-2008, 06:30 AM   #22
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...When out and about, we use our debit cards but like Picanis pointed out we always tell them to run them as credit. If you use your PIN, the bank charges you $0.50. If you use it as credit, it costs the merchan...

The 50 cent fee is not universal. I pay no fees when I use a debit card. Some stores don't make a distinction between debit and credit and run them all as credit cards, then my bank recognizes the transaction as a debit and processes it properly.
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Old 05-05-2008, 06:37 AM   #23
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The 50 cent fee is not universal. I pay no fees when I use a debit card. Some stores don't make a distinction between debit and credit and run them all as credit cards, then my bank recognizes the transaction as a debit and processes it properly.
Mine doesn't charge for that either. I usually choose credit just so I don't have to type my PIN in.

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Old 05-05-2008, 07:24 AM   #24
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You should also check with your bank about what programs they have to protect you. I use my credit card for everything to get the points. When I shop online I can use a programs from the bank that gives me a temporary credit card account number. The account number is good for a one time purchase. I open the small program (or go to the banks website and enter the info there) and plug in a few things and it spits out a credit card number, exp date, and security code. I use that to make my purchase. The number is good for that one purchase only. If someone tries to use that number again it will not work.
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Old 05-05-2008, 07:27 AM   #25
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You should also check with your bank about what programs they have to protect you. I use my credit card for everything to get the points. When I shop online I can use a programs from the bank that gives me a temporary credit card account number. The account number is good for a one time purchase. I open the small program (or go to the banks website and enter the info there) and plug in a few things and it spits out a credit card number, exp date, and security code. I use that to make my purchase. The number is good for that one purchase only. If someone tries to use that number again it will not work.

That's a great idea! Care to share the name of the bank??
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Old 05-05-2008, 07:36 AM   #26
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Sure Andy. It is Citibank. The programs is called the Citi Virtual Account Numbers. I do not know if it works for Debit cards as well, but I know it works for credit cards.
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Old 05-05-2008, 07:38 AM   #27
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When out and about, we use our debit cards but like Picanis pointed out we always tell them to run them as credit. If you use your PIN, the bank charges you $0.50. If you use it as credit, it costs the merchant....
I didn't realize banks charged their customers .50/transaction to use a debit card. It's been so long since I've used one. It used to be they only charged a fee if you took cash out at a machine that wasn't theirs. Is this all banks, or does it depend on the type account you have?

I gotta play devil's advocate here though..... why should the merchant absorb the cost for the customer's convenience of not paying with cash? Especially if it is one of these small sales like the TV ads are pushing; like paying for fast food.
It is not uncommon among small businesses to discuss an extra "markup" to cover CC processing fees, then turn around and give the markup as a discount to someone paying with cash. It is illegal to do it the other way, charge an extra 3% (or so) to anyone using a CC for a purchase.

Sometimes there is very little markup and all those CC fees add up at the end of the month.
Unless your Wally World who happens to be their own processing co, too, so the money just goes in a circle.
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Old 05-05-2008, 07:47 AM   #28
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...why should the merchant absorb the cost for the customer's convenience of not paying with cash?...

...to get their business! It's been going on for decades for credit card purchases.
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Old 05-05-2008, 09:16 AM   #29
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I guess it all depends on the business.
I find just as many people who pay with cash or check as with CC, but then my charges are rarely something they would need to "finance" and not pay off all at once. Isn't that why CCs first came out, to allow purchases you can't afford all at once?
All these perks (like your points that earned you a trip to Aruba) really hurt small businesses. The only real advantage to accepting a CC for a merchant, is you don't need to worry about a check going boing. And of course that can be verified now.

I admit I still have one foot in the past though. Especially when it costs me money.
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Old 05-05-2008, 09:24 AM   #30
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The only real advantage to accepting a CC for a merchant, is you don't need to worry about a check going boing.
That is not the only real advantage. More and more people are not carrying cash, or at least not a lot of cash. The advantage to the merchant is that these people can still buy things from them even if they do not have any cash on them. If a store does not accept CC's then it is very possible that they have lost my sale as I simply do not have the cash on me to make the purchase that way.
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