Airport Transportation
Oh Ron -- no! We want to avoid transaction fees! That's the whole point!
Sounds like a plan, Karen--but will we accept credit cards for our services? ;-)
Ron - let's do an escort service. It's a better way to make money! ATM's ==pofff!
When I need cash, I just resume my escort service. ;-)
Let's take Stacy'advice and get back to the original topic: Airport Transportation
Al - when I need cash - I will get it from from DEBIT card. When I charge purchases, restos, etc, etc, I will use the charge card. Please remember I use these cards in France and when I travel abroad.
KAREN.......Your CREDIT card I would assume also has a Mastercard or Visa logo on it as most all CC cards that I know of do. It should never be used in an ATM machine as it will treat your withdrawal as a loan and charge you high interest. I will also assume that you get a separate monthly statement for charges.
The DEBIT card withdraws directly from your checking account when you get cash in an ATM. By the same token if you used it for restaurants or purchases it also takes directly from your checking account immediately and if there is not enough money in your checking account you can be heavily penalized. If you use your CREDIT card for restaurant or purchase your CC statement allows you at least THREE Weeks before you have to pay and has no automatic relationship with your checking account. That's why I gave the bank back their Debit card for an ATM card that I only use for ATM cash withdrawals. I have no need for a Debit card and I want to avoid using it in error.
Al - I am looking at my HSBC cards. One card says CREDIT - while the second one is a DEBIT card. Perhaps new branding -- but if I withdraw money from the DEBIT card, it comes directly out of my bank account and I am not charged a huge percentage. BUT -- it does not have a smart chip whereas my French card has a puce.
Sorry, in rereading the link that Stacy brought up I must say that my comment about not dreaming up a Debit card as wrong because what the link describes IS a debit card only they never gave it the name other than ATM. The name change came when the banks saw what a money maker for the bank the Debit Card was...they gave it the name and big time promotion. The debit card is such a money maker that private companies have gone into it as the link from the NYTimes that Karen showed us a couple of weeks ago. The article was a big User Beware notice.
STACY.......Wow. where did you come up with that link to ATM info. It was printed in 1995 and just about the beginning of ATM as a national item. Debit cards were not in anybody's imagination then and most people treated ATM as a new invention (which it was) just as Twitter and Facebook are today. Much of it is outdated.
In 1985 I was traveling for biz in Brazil and I noticed in corners by banks,kiosks with long lines going in and people counting money going out. There was horrific 3 digit inflation in Brazil and if people saw a good purchase that would want CASH or the final price by credit would be much higher. And the machines were only for the bank you had your money in.
In the US inthe late 1980s some of the big NY banks introduced machines (don't know if they had an ATM name)but at the beginning they were located in main offices of banks like Chase-Manhatten,Manny -Hanover,etc like the Wall Street area, and only for the bank where one had the money.
I called Chase to ask if ATM cards could be used for purchases and I got sort of a modified yes but with the admonition that I should be careful with free use of my pin. An ATM with a pin number exposes all ones accounts that are linked together.
Stacy -- thank you for coming up with AN answer. Al - perhaps, you could check with your banker. I'd hope he or she would know.
thank you.
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Karen, I *wish* I were always right, but sadly that is far (very far!) from being the case.
Al, I've been away from the US for a while and am not sure which merchants (if any) take ATM cards there now--in the past the US Post Office did, if I recall correctly, and some gas stations and stores but I don't recall which ones. Since the ATM-only card doesn't have a Mastercard or Visa logo on it, the merchants need to have a keypad for PIN entry and be able to process the transaction on the card's network (e.g., Plus, Cirrus, Shazam, etc.).
Here's a consumer publication that gives an overview; it's old but overall still relevant.
http://www.pueblo.gsa.gov/cic_text/money/shopwith-atmcard/shop-atm.htm
STACY......good to hear from you. You had me curious when you said that ATM cards can be used for PinBased purchases at certain merchants.New to me..What are "certain merchants"?
Oui! ;-)
Stacy is always right@@ how about we nominate her to take over the discussion board. All those in FAVOR - say OUI!
Thanks, Karen. I know this topic is for airports, but I saw all of these posts regarding
credit cards, so I decided to go ahead and "join the crowd" and not start another topic.
Stacy is right...
STACY - thank you. and thank you again. I will see about having a tech person moving this thread. thank you EVERYONE for your contributions.
Oops, hit reply too soon. When your bank said DEBIT card they were likely referring generically to card that take money directly from your bank account (both debit and ATM cards), as opposed to credit cards which will indeed rack up huge fees for cash advances.
Karen, an ATM card is not the same as a debit/check card. The ATM card can be used to withdraw cash from ATMs and also for PIN-based purchases at certain merchants. A debit card can do both of those things but also be used for signature-based purchases.
(Is there a way to move these posts to a more appropriate topic? We seem to have wandered from the subject of airport transportation.)
Karen.........
Karen ANY type of card other than a DEBIT card, there would be a fee. Could it be possible that ATM/Debit is one and the same??
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Not a chance in the world. The Debit Card is multicolored and has the logo of one of the CCs.
My card is solid Chase blue with a white Chase Logo and ATM CARD in white and the raised account number. Believe me....I have an ATM card and know enough about Debits that I don't want and don't have. And I can't buy anything with my ATM card.
Ron -- speak to someone at Capitol One and be sure to get his or her name and serial number. I am not at all sure those are the current regulations. I applied for its credit card and never activated it after reading the tiny print.
Thank goodness the current administration is making noises about not permitting banks to charge obscenely high rates for credit card usage. ALWAYS be certain to pay off the balance on time and not even a day late. Take no prisoners!
You are right, Karen. The nomenclature on these cards can be a little confusing.
My BA VISA card is also called a "check card" in addition to being a debit card and a
credit card.
Regarding just a plain old credit card, I will be acquiring a Capital One card to avoid
the foreign transaction fee when I charge my hotel bill, etc. When I "Googled" credit cards
that don't charge a foreign transaction fee, Capital One was the only one that popped up.
I have heard that Discover does not charge the fee, but how often is it accepted in Europe?
Most companies charge a minimum 3 % transaction fee (such as Citibank).
AL == Please check with Chase. I just received a new mailing that said if a cash withdrawal were taken from ANY type of card other than a DEBIT card, there would be a fee. Could it be possible that ATM/Debit is one and the same?
Ron - you are ever so right about B of A and BNP Paribas. When it comes to Capitol One - the same is true for a debit card bit NOT a credit card. HSBC allows you to withdraw cash from any ATM for free UNLESS you're in NYC and since HSBC has so many branches there, unless you use one of their ATM's, there IS a transaction fee.
Ronald.......my message to you disappeared .This is a repeat and maybe there will be two showing.
I do not have your experiences as I only have an ATM card(not accepting a Debit Card) from Chase which aside from the ATM it is also used as an ID card in intra-Chase transactions. No CC card is involved in my ATM withdrawals. I have never been charged a fee by a foreign bank in western Europe in an ATM withdrawal. At Chase there is no fee if I maintain a required balance and when I didn't have the balance the fee was a modest amount in the $3 to $5 area.
The amount was taken from my checking account and appeared in my monthly BANK statement.
There are plenty of posts here ... whatever happened, I will never know! (:
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