tagged w/ Debit Cards
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RushCard is a prepaid Visa debit card. You can only spend what you deposit, so there are no costly overdraft or interest fees. It’s an easy-to-use and convenient alternative to credit cards and traditional banking–without all of the worry of going into debt or overdrawing your account.
Avoid high interest charges and the danger of falling into debt. With RushCard there are no hidden fees or interest charges so you can enjoy the convenience of worldwide acceptance and protect yourself against overspending.
http://sn.im/1nxe29RushCard is a prepaid Visa debit card. You can only spend what you deposit, so there... more
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TULSA - If you don't have plenty of padding in your checking account there are certain purchases you don't want to make with your debit card.
It's because some merchants place holds on money in your bank account, over the actual price of the item, tying up your money until the transaction is complete.
The CEO of LowCards.com Bill Hardekopf provides this helpful information:
Consumer Headaches Resulting from Debit Card Holds
If you are tight on your checking account balance, you may want to think twice about using your debit card for certain purchases.
After a debit card is swiped for payment, certain retailers like hotels, gas stations and car rentals, sometimes place a hold or a block on money from the account in order to secure the payment, protecting the money from any other use. This reduces the risk that the customer will be overdrawn and leave the merchant unpaid.
The hold can even be for more than the the amount of payment. For example, some hotels puts a hold on 120% of the cost of your room. If the cost is $100, that's a $120 hold on your account. It holds the cost plus the additional amount to cover any incidentals expenses that may occur during the stay.
The actual charge is not put through until the merchant submits their batch of transactions and the banking system transfers the funds.
A big surprise can also happen at gas stations. If you use your debit card at a pump that does not require a PIN, your bank may block out as much as $50 to $75. (Some stations may place only a $1 hold to make sure the account is still active). That hold can last up to 72 hours. A card can be declined even if you have enough money for the gas, but not enough for the hold.
Full Story: http://www.kjrh.com/dpp/news/problem_solvers/there-are-certain-things-you-should-not-buy-with-your-debit-card
http://lsnbonline.com/images/debitCard.jpgTULSA - If you don't have plenty of padding in your checking account there are... more
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Debit cards have become a big part of our everyday lives. The increase in use of debit cards can be attributed to the growing debt the US public has managed to accrue using credit cards. Banks are trying their best discourage the use since they make more on fees from credit card transaction.Debit cards have become a big part of our everyday lives. The increase in use of debit... more
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Debit cards have become a big part of our everyday lives. The increase in use of debit cards can be attributed to the growing debt the US public has managed to accrue using credit cards. Banks are trying their best discourage the use since they make more on fees from credit card transaction.Debit cards have become a big part of our everyday lives. The increase in use of debit... more
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A money-transfer company has made a piece of banking history in Somalia - introducing the first-ever debit card in the breakaway region of Somaliland.
http://news.bbc.co.uk/2/hi/africa/8330569.stmA money-transfer company has made a piece of banking history in Somalia - introducing... more
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Buying a prepaid debit card these days is just about as easy as picking up a bottle of shampoo or a candy bar. Walk into a Wal-Mart or almost any major drugstore, and rows of plastic worth $25, $100 and even $500 beckon from kiosks alongside prepaid phone cards and gift cards for retailers. But there's more to these cards than meets the eye...Buying a prepaid debit card these days is just about as easy as picking up a bottle of... more
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Banks will let you overspend on your debit card in a way that is much, much more expensive than almost any credit card.Banks will let you overspend on your debit card in a way that is much, much more... more
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Google Checkout wll stop accepting Maestro debit cards from next week with pretty much no word from either Google or Mastercard (who own the Maestro brand).
I'm posting this because i reluctantly use Google Checkout (I'm a fan of Paypal) and only ever use my Maestro card on the internet in general. I can't see any reason why they would stop accepting it, considering it has around 540 million users worldwide.
Anyways of you want more information then head over to the Google Merchant forums to join in the ranting:
http://www.google.com/support/forum/p/checkout-merchants/thread?tid=0c67063b46ef7819&hl=enGoogle Checkout wll stop accepting Maestro debit cards from next week with pretty much... more
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JClem
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added this
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2 years ago
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Self-checkout systems in UK supermarkets are being targeted by hi-tech criminals with stolen credit card details.
A BBC investigation has unearthed a plan hatching online to loot US bank accounts via the checkout systems.
Fake credit cards loaded with details from the accounts will be used to get cash or buy high value goods.
The supermarkets targeted said there was little chance the fraudsters would make significant gains with their plan.
With the help of computer security experts the BBC found a discussion on a card fraud website in which hi-tech thieves debated the best way to strip money from the US accounts.
The thieves claim to have comprehensive details of US credit and debit cards passed to them from an American gang who tapped phone lines between cash machines and banks.
The information found by the BBC has been passed to the Dedicated Cheque and Plastic Crime Unit so it can investigate the ongoing fraud.
Andrew Moloney, security evangelist at RSA, said the gang were involved in "classic" card fraud by cloning details on to magnetic stripes.
He said it was an example of a long observed trend in fraud.
"We've seen a shift from card-present fraud to card-not-present to fraud abroad," he said.
"The internet is the global marketplace," he said. "It's not difficult to take compromised cards from one country and exploit them in another. It's a simple and routine procedure for these guys these days."
The discussion on the crooks' forum is a bit of a wake-up call for all those who think that the introduction of chip-and-pin in the UK has wiped out card fraud
Jacques Erasmus, from security firm Prevx, agreed that cashing out abroad was a well established method. "They do not normally cash out in the same country," he said, "just because it makes the law enforcement job that much harder."
He said many criminal gangs even offer their fraudulent services via the web. Self-checkout systems in UK supermarkets are being targeted by hi-tech criminals with... more
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