On 5/01/2016 8:13 AM, dsi1 wrote:
> On 1/3/2016 10:01 PM, sf wrote:
>> On Sun, 3 Jan 2016 16:43:58 -0800 (PST), dsi1 >
>> wrote:
>>
>>> On Sunday, January 3, 2016 at 2:01:06 PM UTC-10, Ed Pawlowski wrote:
>>>> On 1/3/2016 6:20 PM, Doris Night wrote:
>>>>
>>>>>
>>>>> *In Canada, we don't have to swipe a card and enter a PIN. We just
>>>>> have to touch a screen with the card. The whole thing takes about 1.5
>>>>> seconds.
>>>>>
>>>>> Doris
>>>>>
>>>>
>>>> Sorry to hear that. That type of card is being eliminated because
>>>> it is
>>>> possible to steal the information and clone them. New chip cards take
>>>> longer but are much more secure.
>>>
>>> As of October 1st, 2015, businesses in the US were supposed to
>>> replace their card readers with new ones that take the chipped cards
>>> or face bad things happening to them. I got my new reader but haven't
>>> connected it yet. It seems like a lot of bother to have to swipe and
>>> insert the cards and input a pin. I've been telling folks that I
>>> haven't gotten my new reader up a running so a check would be
>>> perfectly acceptable but I don't think I can keep that up for long. 
>>
>> I don't need to insert a PIN when I use my chipped card.
>>
>
> I have a debit card so it just uses the PIN. It can be processed like a
> credit card but my assumption is that funds gets subtracted from my
> account right away. That's goofy as hell, if you ask me.
There is method in their madness. I have a similar debit card. If I use
it as a debit card, I pay a fee to my banking institution. If I use it
as a credit card, I pay no fee and all I need to do differently is
select credit instead of debit at the POS terminal. Naturally I select
credit for most instances. Some vendors charge a fee if using a CC,
usually a percentage of the transaction. In those cases I determine
which fee will be greater, CC or DC, and use the alternative.
No matter whether I select CC or DC, the money comes straight out of my
account. I have set up an overdraft facility on the debit card account,
in order to avoid penalty fees, and if there are insufficient funds, it
acts as a CC and I get hit with interest immediately. That has only
happened on rare occasions as I have a CC that I can use as an
alternative if I know my funds in the DC account are low.
--
Xeno