On Tuesday, January 5, 2016 at 2:01:40 AM UTC-10, Xeno wrote:
> 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

I'll have to investigate whether or not I'm getting charged for using the debit card. I have no idea what that would be. As a merchant, I get charged a transaction fee, around 20 cents plus a percentage. Oddly enough, I don't recall what that percentage was.

I love getting cash because it's money that I get in my hot little hands immediately with no fees besides the taxes. With credit and debit charges, I don't have the funds available for around 3 days. The float must be fabulous. I can't say who's getting the float but I'm sure they're quite happy with this arrangement. Those *******s!