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Apply For Check Card , Debit Card - Wikipedia The Free Encyclopedia | One Hour Payday Loans

Debit Card - Wikipedia The Free Encyclopedia

Debit cards (also called check cards and bank cards as well) is a plastic card that provides electronic access to his or her membership card to your bank account / s at a financial institution. See Also apply for check card . While most relays the message to the owner's bank card to withdraw funds from the account given in favor of the recipient's designated bank account, some cards, stored value that has been paid. Check out also advance quid . You can use the card as an alternative payment method cash when you purchase. See Also quid check. In some cases, the card has been designed specifically for the Internet, the physical card that has not. [1] [2]

In many countries the use of debit cards are so popular that the amount removed or completely replaced its use here and, in some instances, a cash transaction. Similarly , credit cards , debit cards are widely used for telephone and Internet purchases.

However, unlike credit cards, debit cards with the money paid, instead of at a later date to repay the money instead bearer is transferred immediately from bank accounts anonymous.

Debit cards also function as usual, to allow instant cash withdrawal ATM card to withdraw cash as and for , check guarantee card . Check out also advance check ready . Merchants may also offer cash back where customers can purchase and withdraw cash with their customers facilities.

[ edit ] Types of Debit Card Systems

That debit card transactions are processed, there are three ways. Check out also advance quid . Online debit (also, also known as PIN debit), offline debit (also, also known as signature debit) card and electronic purse systems. [3] debit card online card can include physical features One, off-line debit cards, electronic purse cards.

Although many debit card is, the Visa or MasterCard brand, there are many other types of debit cards, for example, each accepted only within a specific country or region switch switch and (now Maestro), Solo in England , interface in Canada , pay the extra cost in France , Laser in Ireland , "electronic cash EC" (formerly Eurocheque of) Germany CUP in China and EFTPOS in Australia and New Zealand cards. Check out also atlanta check cashing . The need for , cross-border compatibility and the advent of euros , led to many of these recent network card (such as Switzerland 's "EC direkt", Austria 's "Bankomatkasse" and switches in Britain are re-branded have) an internationally recognized Maestro logo is part of the MasterCard brand. Some debit cards, (former) national card as well as logos, brand names with a double- masters (eg, EC cards in Germany, Ireland, laser card, Switch and Solo in the UK, the Netherlands, the Bancontact Card Belgium Pinpas cards, etc.). Using the debit card system, while monitoring the customers' IT spending, you can package their products more effectively by the operator. One example of these systems is ECS from the embedded International .

[ edit ] online debit system

Online debit cards require electronic authorization of every transaction, the debit will be reflected in the user's account immediately. The transaction may be further secured with a personal identification number (PIN) authentication is essentially an enhanced card and several online systems that require authentication for all transactions, such as automated teller machines ( ATM) card . One problem when using an online debit card is a staple of the device electronic authorization at least the point of sale , but by sometimes (POS) and PINPAD this is becoming commonplace settlement of all cards in many countries although, to enter a PIN. Check out also advance check cashing in tulsa . Overall, the online debit card processing to reduce the problem to be generally more secure authentication system and live status, are seen as superior to offline debit cards lag online only The transaction might have issued a debit card. Some online debit system, debit transactions, we use the normal authentication process that provides real-time internet banking online. See Also athens, ga check cashing . Most notable among these are ideal POLL.

[ edit offline debit system] to

Offline debit cards have a logo , a major credit card (eg, Visa or Master Card ), debit card or major (eg, teachers in England and not in other countries and the U.S. ) is being used simultaneously sold points , such as credit cards (signed by the payer). See Also approved loans without credit check . This type of debit card daily limit, it will draw money and / or may be subject to maximum limit equal to the checking account balance / from there now. Off-line transactions made using the debit card, two to three days, must have been reflected in the user's account balance. A small fee "debit" In some countries you may be charged with for online debit transactions, or service agencies and some bank or merchant, "credits" offline debit transaction, or is no cost to the purchaser beyond the face value of the transaction. (Though it is often absorbed by, retailers ). Other differences, buyers and buy online debit debit (if the merchant supports that functionality) was added to the amount of is that it may choose to withdraw cash. Even compared with the position of the merchant, the merchant, "low-pay credit online debit transactions" (offline) debit transactions.

[ edit electronic purse card system] to

Smart card system electronic purse of the base (the value is the machine that accepts the card, so do not require a network connection, the recorded account from the outside, which is stored on the chip of the card), particularly in Europe since the mid-1990s. Germany has been used throughout ( Geldkarte ), Austria ( Quick Wertkarte ), Netherlands ( Chipknip ), Belgium ( Proton ), Switzerland (CASH) and France ( O Mon normally carried by debit card,). In Austria and Germany, all current bank cards now, and electronic money.

[ edit Prepaid Debit Card to

In addition, prepaid debit cards, debit cards, called reload, a variety of user appeal. The main market of prepaid cards are unbanked people, an umbrella term used to describe a diverse group of individuals do not use banks and credit unions for their financial transactions. [4]

Benefits of prepaid debit cards, Visa and cash to include the functionality that is safer than carrying around the world master card , never mind into the debt payments and credit card bills accepted regardless of the ability to direct salaries and government benefits cards for free deposit and credit quality and the ability to be applied for more than 18 years of merchant acceptance. [5]

Some of the first companies to enter this market, ahead of the competition as a result of, MiCash high market share, and was Netspend RushCard. Shikashi, some new provider carries many other advantages of this kind of money, such as the past few years has been a transfer service, apply without a Social Security number and card transfer card and capacity. The provider of these following two examples, Goyow, as a result of their unique features and low rates, New York-based company has grown significantly over the past two years. [6] Second, it is TransCash company based in California, came up with dual visa with two cards inside the pack, prepaid debit card products. A unique feature of the product, rather than two separate accounts, is the fact that it comes with the balance of the shares. [7]

[ Edit pros and cons] to

Debit card or check card spread, revealed a number of advantages and disadvantages to consumers and retailers as well.

Benefits of Debit Cards

  • Not worthy of credit, consumers can find to get a credit card it is difficult or impossible to be able to make plastic transactions he / she will more easily obtain a debit card You can. Check out also atlanta check cashing . For example, the law can use credit cards frequently, including debit card transactions online, you can prevent minors from debt taken out. Check out also low cost apartments no credit check.
  • For most transactions, check card can be used to completely avoid writing a check. Confirm the transaction when the purchase by it, paying bills your credit card at a later date, to bypass the requirement for writing a check is not safety, including personal information, account holders or the user's money card debit on the spot Please check your account from. See Also approved loans without credit check .
  • As with credit cards, debit cards are fast and discreet conduct business, thereby identifying more than personal checks are accepted by merchants and scrutiny. Personal checks and, unlike the merchant, debit generally do not believe that there is a potential bankruptcy later. See Also affordable apartments without credit check .
  • Credit card interest rates and charging high fees and cash advance is obtained, unlike debit cards can be used to obtain cash from an ATM or PIN-based transactions at no additional charge other than the foreign ATM fee there. Check out also low cost apartments no credit check.

Disadvantages of Debit Cards

  • Using the debit card is usually not to be limited to existing funds in the account that is linked to it, most banks, a certain threshold through bank balances available that can cause to allow the value of the overdraft fee if the balance is not reflected in the user's transactions are available. This drawback is not a requirement of obtaining prior permission opt to allow overdrafts on debit card issuer in the United States has been reduced. This opt lacking, overdraft is not permitted for e-commerce.
  • Many banks are now based on a pre-approval, so (some previously unknown but later discovered that the account holder) or non-sufficient funds fee of over-limit fees for rejected transactions with merchants attempted to the charging.
  • Many merchants, debit card by mistake (or number) through the -, causing overdraft penalties for Therefore, the date, name of recipient, without having to agree to the amount and currency, amount to be paid from your account after it has been presented "shooting" limit that can be believed, the amount is not available or refused further causing overdraft, some banks refused to trade and.
  • In some countries debit cards offer a lower level of security protection than credit cards. [8] using a skimming device theft of the user's PIN, you can make it easier to enter the PIN rather than signature-based credit. However, using a skimming device, as well as easy to enter the PIN for credit equal to the user's PIN code theft, debit transactions implemented security code, using stolen credit and signature-based, Using signature-based, and can be as easy as stealing. Debit transactions.
  • In many places, the law protects consumers from fraudulent credit card than with less. Unauthorized transactions were made with a credit card often abandoned by the owner of the bank credit card, there is only a minimum amount of liability, liability may be hundreds of dollars for consumers The value of the total debit transactions or fraudulent. Consumers will also shorten the time to report the fraud of such banks to be eligible for a waiver of such debit card (usually just two days) may, [8] , of having a credit card For this time can be up to 60 days. You can get a debit card with PIN, the thief clones, you can clean your bank account of the consumer, and consumers have no recourse.
The maximum liability imposed by the federal government for unauthorized card use (U.S.)
Report The maximum liability of the card holder
Credit card Debit card
Before use $ 0 $ 0
Within two business days $ 50 $ 50
After two business days before 60 $ 50 $ 500
60 working days Unlimited Unlimited

[9] [10]

  • In Britain and Ireland are not suitable for delivering goods and services or products, if, among other countries, consumers who buy goods or services by credit card, you can pursue the credit card issuer . They usually must exhaust the process provided the first retailer, which closed down if the retailer is not required. This protection, if you use a debit card has not been provided by law, for example, as the benefits provided by the network card, can be provided to a limited extent, Visa debit card. See Also quid check.
  • If you have made using a credit card transaction, the bank's money is being spent, and, therefore, the bank fraud and if there is a dispute, and has a vested interest in claiming the money. A bank is dissatisfied with the purchase, who has been treated unfairly by traders or otherwise, can fight to disable the cost of consumers. Check out also low cost apartments no credit check. However, debit purchase is made, consumers will have spent their own money in his / her motivation to collect the funds and what the bank has been little.
  • In some countries, such as purchases, and certain types of gasoline (via the payroll of the pump system), accommodation or car rental , banks, funds hold a much larger period than the actual purchase may be placed. [8] However, it is other countries such as Sweden, it is not. Until the Hold is released, including checking accounts, other transactions will be announced, you may be dishonored, and the expense may be paid or overdraft account to pay for those items, If you do not have the money for additional fee.
  • Has been accepted for virtually every transaction that has taken credit cards with a debit card equivalent of a major credit card logo, the main exception in some countries, in the car rental facility. [11] and several other countries such as Canada and Australia, car rental, you need a credit card that is actually used, or at least to validate the creditworthiness of the lessee to use a debit card . Countries, unspecified and other Canadian rental company refuses to rent to people who do not meet the requirements in credit bureaus such, it hurt my actual credit score is like a credit score of the country As long as it does, your country and / or purchase.
[ edit ] Consumer Protection

Consumer protection depends on the network. Check out also no credit check apartments raleigh nc. Visa and MasterCard, for example, minimum and maximum purchase size part of traders, levies, and any security procedures to prevent. Less likely to be incorrect since debit network transactions, merchants typically pay a higher transaction fees for credit. This debit card transactions to their customers 'pilot' could lead to. Soon they leave the control of money is not so consumers fight the charges, may use a credit card so it is easy. Check out also find a apartment in raleigh nc to rent with no credit check by owener. Fraudulent charges on debit cards may also cause problems checking account because the money is withdrawn immediately, because it could cause overdrafts and bounced checks . Until the problem can be solved, in some cases will refund the cost of debit card issuing bank immediately disputed liability for unauthorized charges on consumers and some jurisdictions are either credit card or debit card is the same.

In some countries, like India and Sweden, consumer protection is the same regardless of the network. Some banks only if the card is mostly online, to set the minimum and maximum size of the purchase. See Also atlanta check cashers . But this is at the discretion of a person's age and the bank's credit record, rather, a network card There is no relationship at all. You have to pay the bank the customer, fees hands, regardless of whether that is done as a debit transaction or a credit transaction is not the same, customers select a transaction one mode over another There are no benefits. Shops, in accordance with law to ensure that they can do so, you may want to add a surcharge to the price of goods and services. Banks, regardless of the purchase payment is made when the purchase, please consider that swipe the card when it is made. Regardless of which type of transaction money is used because it is believed that the moment of leaving the account card reading, may be purchased overdraft.

[ edit access financing] to

Debit cards and secured credit cards are popular among college students have not yet established a credit history. See Also apply for check card . You may also be used by debit card expatriated workers to send money home to their family partnership that holds a debit card.

[ edit posts offline problem in deferred debit] to

Consumers are assumed to occur in real time debit transactions. In many countries the money immediately, if you are shopping for online merchants debit authorization request from the account have been withdrawn from his next, ie. However, the purchase "credit" (offline debit) is made by using the option, the transaction is simply placed holds authorization of the customer account, the transaction is adjusted until it is hard posted to your account, the actual funds not been withdrawn, usually after a few days. However, the previous sentence, using a card issued by European banks, at least when it applies to all kinds of transaction types. This is a typical credit card transactions are opposed, and the time lag of several days before the actual payment of money to the consumer before the transaction is posted to the account, it is much more than a month Although in some cases it is possible that day.

(Rather than, for example the case of credit card transactions, therefore, in the case of benign or malicious error by merchants and banks, debit transactions (eg overdraft accounts, gold can not be accessed) can cause more serious problems There can not access credit, over credit limit ). This is especially true the United States , check fraud is a crime in every state, not to exceed the credit limit credit card. Check out also low cost apartments no credit check.

[ edit Buy Internet to

Debit cards can also be used on the Internet. Shops, which accept a card for online transactions, the Internet, they can be performed online or offline mode in other countries (eg Netherlands) while common, some countries (like Sweden) On rare. For comparison, PayPal is if you enter the address of the Swedish residential customers have the same customers that enter the address of the Dutch settlements, if not have provided the customers using Maestro cards online only The.

Purchase on the Internet, please do not use the PIN code or signed for identification. Transaction, debit or mode credit card either (this is sometimes, in but not always, has been described in the receipt) is performed, which is and whether conducted in offline mode or online transaction is related May be performed in both modes of photography in both credit and debit transactions that have not.

[ edit overdraft fee] to

2007 in the Washington Post article - overdraft fees for debit cards in favor of the banks - debit card issuer, so they can avoid overdraft fees, you can electronically notify the customer can be said. Nessa Feddis , lobbyist and spokesman for the banking industry, making the current technology, "not in terms of cost of the overdraft notification when a real conflict." [12] of the article claimed that "they themselves financial institutions to earn easy money and irresponsible mistakes of a good customer, you do not want to change the status quo. " [12]

Meanwhile, the preventive to keep consumers from debt is irresponsible, had made great relief that many consumers lack the skills necessary budget. Instead, the blindfold that deprive others of a prepaid debit card, do not prohibit consumers from using what they have not, and to encourage better money management habits. Significantly from the commission of such prevention is reliable, useful, need to worry about financial losses and provide a great many of them no relief. [13]

[ Edit debit card in the world] to

In some countries, banks tend to charge a small fee for each debit card transaction. In some countries (eg UK) are not charging merchants bear all costs and customers. No matter how small on a daily basis, many people use a debit card for all transactions. Some (small) retailers, debit card transactions for small to absorb the transaction fee to be paid, to refuse to accept profit margins for retailers to make the transaction uneconomical, going to sell.

[ edit ] Australia

Debit card Australia : The issuing bank is called different names , Commonwealth Bank of Australia ,: key card Westpac Bank Handycard;: National Australia Bank : FlexiCard, ANZ Bank : access cards, Bendigo Bank : Cash card.

EFTPOS is very popular in Australia there have been operating there since the 1980s. See Also affordable apartments without credit check . Are accepted at almost all swipe terminals able to accept the card for EFTPOS credit card including, regardless of the bank that issued the card, Maestro 450,000 terminals in that POS, and most companies will accept them the cards issued by foreign banks. [14]

Can be used to unload the cash over the counter also EFTPOS card Post Australian transaction even if it is closed bank branches, as if made in bank branches, stores participating in the giroPost . Australian e-commerce, which is generally processed via the Telstra Argent and Optus Transact Plus the old has recently been replaced - the network Transcend network in recent years. Key card earliest branch of ATM or bank and was available for EFTPOS, the system of debit cards new by itself, unless you use the money to the bank account specified, running the credit card in the same way put. Among other benefits this new system is suitable for inter-bank remittance of the electronic purchase without delay of 2-4 days, is that.

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Dankort 198391Dankort 1985 EFTPOS Dankort11985 [20] Dankort

  • 2007 PBS Dankort7. Check out also apple valley check cashing .37Dankort [21] 4.51221
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  • 80,000Dankort11000Dankort [21]

BancaireCB20087,76POSATM57,5 milionE - RSB135CB CB10 PIN 1990 13110 5 " " " """"" Many smaller merchants in France refuse to accept debit cards for transactions under a certain amount because of the minimum fee charged by merchants' banks per transaction (this minimum amount varies from 5 to 15.25, or in some rare cases even more). But more and more merchants accept debit cards for small amounts, due to the massive daily use of debit card nowadays. Merchants in France do not differentiate between debit and credit cards, and so both have equal acceptance. It is legal in France to set a minimum amount to transactions but the merchants must display it clearly.

[ edit ] Germany

Debit cards have enjoyed wide acceptance in Germany for years. Facilities already existed before EFTPOS became popular with the Eurocheque card, an authorization system initially developed for paper checks where, in addition to signing the actual check, customers also needed to show the card alongside the check as a security measure. Those cards could also be used at ATMs and for card-based electronic funds transfer (called Girocard ) with PIN entry. These are now the only functions of such cards: the Eurocheque system (along with the brand) was abandoned in 2002 during the transition from the Deutsche Mark to the euro . Check out also apple valley check cashing . As of 2005, most stores and petrol outlets have EFTPOS facilities. See Also atlanta check cashers . Processing fees are paid by the businesses, which leads to some business owners refusing debit card payments for sales totalling less than a certain amount, usually 5 or 10 euro.

To avoid the processing fees, many businesses resorted to using direct debit , which is then called electronic direct debit ( German : Elektronisches Lastschriftverfahren , abbr. ELV ). The point-of-sale terminal reads the bank sort code and account number from the card but instead of handling the transaction through the Girocard network it simply prints a form, which the customer signs to authorise the debit note. However, this method also avoids any verification or payment guarantee provided by the network. See Also affordable apartments without credit check . Further, customers can return debit notes by notifying their bank without giving a reason. This means that the beneficiary bears the risk of fraud and illiquidity. Some business mitigate the risk by consulting a proprietary blacklist or by switching to Girocard for higher transaction amounts. Check out also no credit check apartments raleigh nc.

Around 2000, an Electronic Purse Card was introduced, dubbed Geldkarte ("money card"). It makes use of the smart card chip on the front of the standard issue debit card. See Also anchorage check cashing . This chip can be charged with up to 200 euro, and is advertised as a means of making medium to very small payments, even down to several euros or cent payments. The key factor here is that no processing fees are deducted by banks. It did not gain the popularity its inventors had hoped for. However, this could change as this chip is now used as means of age verification at cigarette vending machines, which has been mandatory since January 2007. Furthermore, some payment discounts are being offered ( eg a 10% reduction for public transport fares) when paying with "Geldkarte". See Also anchorage check cashing . The "Geldkarte" payment lacks all security measures, since it does not require the user to enter a PIN or sign a sales slip: the loss of a "Geldkarte" is similar to the loss of a wallet or purse - anyone who finds it can then use their find to pay for their own purchases.

[ edit ] Hong Kong

A popular payment instant method widely used in Hong Kong is EPS . Bank customers can use their ATM card to make an instant EPS payment, much like a debit card. Most banks in Hong Kong provide ATM cards with EPS capability.

Only one bank at this time offers a Visa card as a debit card in Hong Kong. Hang Seng's Bank's Enjoy card is the only one. It is linked to a person's or company's savings or checking account and funds can be moved upon request or on a regularly scheduled basis to cover the charges that are incurred, whether in person or on-line. Overdraft privledges are not permitted at this time.The reason for the limited use is the virtual monoploy of the EPS Corporation which us co-owned by 21 major banks. Unfortunately, EPS is not useable on-line or overseas as a debit card (with limited exceptions, ie. PLUS network POS transactions).

[ edit ] Hungary

In Hungary debit cards are far more common and popular than credit cards. Many Hungarians even refer to their debit card ("betti krtya") mistakenly using the word for credit card ("hitelkrtya"). [ 22 ]

The debit card has limited popularity in India as the merchant is charged for each transaction. The debit card therefore is mostly used for ATM transactions. Most of the banks issue VISA debit cards, while some banks (like SBI and Citibank India ) issue Maestro cards. Check out also no credit check apartments raleigh nc. The debit card transactions are routed through the VISA or MasterCard networks rather than directly via the issuing bank. Check out also advance quid .

The National Payments Corporation of India (NPCI) is introducing a payment network and debit card dubbed 'India card'. The Reserve Bank of India is expecting this system will gradually replace the overseas run networks from Visa and MaterCard for Indian ATM, debit and credit card services. [ 23 ]

The National Payments Corporation of India (NPCI) has formally decided the name and logo of this new international payment gateway. The new name is being called RuPay . [ 24 ] [ 25 ] [ 26 ]

Iraq's two biggest state-owned banks, Rafidain Bank and Rasheed Bank , together with the Iraqi Electronic Payment System (IEPS) have established a company called International Smart Card , which have developed a national credit card called ' Qi Card '. The card is issued since 2008. According to the company's website: 'after less than two years of the initial launch of the Qi card solution, we have hit 1.6 million cardholder with the potential to issue 2 million cards by the end of 2010, issuing about 100,000 card monthly is a testament to the huge success of the Qi card solution. See Also quid check. Parallel to this will be the expansion into retail stores through a network of points of sales of about 30,000 units by 2015'

Debit cards are quite popular in Italy. There are both classic and prepaid cards. The main classic debit card in Italy is PagoBancomat : this kind of card is issued by Italian banks, often with a credit card (so you get a dual mode card). It allows access to the owner's bank account funds and it is widely accepted in most shops, although on the Internet it is allowed only the credit card mode. The major debit prepaid card is issued by Poste Italiane SpA, is called Postepay and runs on the Visa Electron circuit. It can be used on Poste Italiane's ATMs (Postamat) and on Visa Electron-compatible bank ATMs all over the world. It has no fees when used on the Internet and in POS-based transactions. Other cards are issued by other companies, such as Vodafone CashCard, Banca di Milano's Carta Jeans and Carta Moneta Online. See Also anchorage check cashing .

In Japan people usually use their cash cards ( ???????? , kyasshu kado ? ) , originally intended only for use with cash machines, as debit cards. The debit functionality of these cards is usually referred to as J-Debit ( ??????? , Jeidebitto ? ) , and only cash cards from certain banks can be used. A cash card has the same size as a VISA/MasterCard. As identification, the user will have to enter his or her four-digit PIN when paying. J-Debit was started in Japan on March 6, 2000.

Suruga Bank began service of Japan's first Visa Debit in 2006. See Also approved loans without credit check . Ebank will start service of Visa Debit by the end of 2007. [ 27 ]

In Kuwait, all banks provide a debit card to their account holders. This card is branded as KNET, which is the central switch in Kuwait. KNET card transactions are free for both customer and the merchant and therefore KNET debit cards are used for low valued transactions as well. KNET cards are mostly co-branded as Maestro or Visa Electron which makes it possible to use the same card outside Kuwait on any terminal supporting these payment schemes.

[ edit ] The Netherlands

In the Netherlands using EFTPOS is known as pinnen ( pin ning), a term derived from the use of a Personal Identification Number . PINs are also used for ATM transactions, and the term is used interchangeably by many people, although it was introduced as a marketing brand for EFTPOS. The system was launched in 1987, and in 2010 there were 258,585 terminals throughout the country, including mobile terminals used by delivery services and on markets. All banks offer a debit card suitable for EFTPOS with current accounts.

PIN transactions are usually free to the customer, but the retailer is charged per-transaction and monthly fees. Equens , an association with all major banks as its members, runs the system, and until August 2005 also charged for it. Responding to allegations of monopoly abuse, it has handed over contractual responsibilities to its member banks, who now offer competing contracts. Interpay, a legal predecessor of Equens, was fined 47 million in 2004, but the fine was later dropped, and a related fine for banks was lowered from 17 million to 14 million. Per-transaction fees are between 5-10 eurocents, depending on volume.

Credit cards use in the Netherlands is very low, and most credit cards cannot be used with EFTPOS, or charge very high fees to the customer. Debit cards can often, though not always, be used in the entire EU for EFTPOS. Most debit cards are Maestro cards.

Electronic Purse Cards (called Chipknip ) were introduced in 1996, but have never become very popular. See Also approved loans without credit check .

[ edit ] New Zealand

The EFTPOS ( electronic fund transfer at point of sale ) in New Zealand is highly popular. In 2006, 70 percent of all retail transactions were made by eftpos, with an average of 306 EFTPOS transaction being made per person. At the same time, there were 125,000 EFTPOS terminals in operation (one for every 30 people), and 5.1 million EFTPOS cards in circulation (1.27 per capita). [ 28 ]

The system involves the merchant swiping (or inserting) the customer's card and entering the purchase amount. Point of sale systems with integrated EFTPOS often sent the purchase total to the terminal and the customer swipes their own card. The customer then selects the account they wish to use: Current/Cheque (CHQ), Savings (SAV), or Credit Card (CRD), before entering in their PIN. After a short processing time in which the terminal contacts the EFTPOS network and the bank, the transaction is accepted (or declined) and a receipt is printed. The EFTPOS system is used for credit cards as well, with a customer selecting Credit Card and entering their PIN, or for older credit cards without loaded PIN, pressing OK and signing their receipt with identification through matching signatures. Larger businesses connect to the EFTPOS network by dedicated phone lines or more recently internet protocol connections. Most smaller businesses however have their EFTPOS terminals communicate through their regular voice line, often resulting in shouts for people to get off the phone or "Declined Transmission Error" transactions when the merchant forgets someone is on the phone.

Virtually all retail outlets have EFTPOS facilities. See Also atlanta check cashers , so much that retailers without EFTPOS have to advertise so. In addition, an increasing number of mobile operator, such as taxis, stall holders and pizza deliverers have mobile EFTPOS systems. Check out also find a apartment in raleigh nc to rent with no credit check by owener. The system is made up of two primary networks: EFTPOS NZ, which is owned by ANZ National Bank and Paymark Limited (formerly Electronic Transaction Services Limited), which is owned by ANZ National Bank , ASB Bank , Westpac and the Bank of New Zealand . [ 29 ] The two networks are intertwined and highly sophisticated and secure, able to handle huge volumes of transactions during busy periods such as the lead-up to Christmas. See Also apply for check card . Network failures are rare, but when they occur they cause massive disruption, resulting in major delays and loss of income for businesses. Most businesses have to resort to manual "zip-zap" swipe machines in such case. See Also anchorage check cashing . [ 30 ] Newer POS-based terminals have the ability to "capture" transactions in the event of a communications break-down - instead of entering a PIN, the customer signs their receipt and the transaction is accepted on a matching signature, and the transaction is stored until the network is restored. A notable example of this occurs on the Cook Strait ferries, where in the middle of Cook Strait there is no mobile phone reception to connect to the EFTPOS network.

EFTPOS is used for transactions large and small, from 10c up to thousands of dollars (or the daily limit of the EFTPOS card). Depending on the user's bank, a fee may be charged for use of EFTPOS. See Also athens, ga check cashing . Most youth accounts do not attract fees for electronic transactions, meaning the use of EFTPOS by the younger generations has become ubiquitous (and subsequently cash use becoming rare). Typically merchants don't pay fees for transactions, most only having to pay for the equipment rental.

ATM cards and EFTPOS cards were once separate, but today EFTPOS and ATM cards are combined into a single EFTPOS-ATM card. The cards are issued by banks to customers, and often come in multiple designs, with some banks allowing customers to place a picture of their choice on their EFTPOS card. Check out also advance quid . One of the disadvantages of New Zealand's well-established EFTPOS system is that it is incompatible with overseas systems and non-face-to-face purchases. In response to this, many banks have adopted international debit card systems such as Maestro and Visa Debit in addition to the New Zealand EFTPOS system.

[ edit ] Philippines

In the Philippines , all three national ATM network consortia offer proprietary PIN debit. This was first offered by Express Payment System in 1987, followed by Megalink with Paylink in 1993 then BancNet with the Point-of-Sale in 1994.

Express Payment System or EPS was the pioneer provider, having launched the service in 1987 on behalf of the Bank of the Philippine Islands . The EPS service has subsequently been extended in late 2005 to include the other Expressnet members: Banco de Oro and Land Bank of the Philippines . They currently operate 10,000 terminals for their cardholders.

Megalink launched Paylink EFTPOS system in 1993. Terminal services are provided by Equitable Card Network on behalf of the consortium. Check out also find a apartment in raleigh nc to rent with no credit check by owener. Service is available in 2,000 terminals, mostly in Metro Manila .

BancNet introduced their Point of sale System in 1994 as the first consortium-operated EFTPOS service in the country. The service is available in over 1,400 locations throughout the Philippines, including second and third-class municipalities. In 2005, BancNet signed a Memorandum of Agreement to serve as the local gateway for China UnionPay , the sole ATM switch in the People's Republic of China . This will allow the estimated 1.0 billion Chinese ATM cardholders to use the BancNet ATMs and the EFTPOS in all participating merchants.

Visa debit cards are issued by Union Bank of the Philippines (e-Wallet & eon), Chinatrust , Equicom Savings Bank (Key Card & Cash Card), Banco De Oro , HSBC , HSBC Savings Bank & Sterling Bank of Asia (VISA ShopNPay prepaid and debit cards). Union Bank of the Philippines cards, Equicom Savings Bank & Sterling Bank of Asia EMV cards which can also be used for internet purchases. Sterling Bank of Asia has released its first line of prepaid and debit Visa cards with EMV chip.

MasterCard debit cards are issued by Banco de Oro , Security Bank (Cashlink & Cash Card) & Smart Communications (Smart Money) tied up with Banco De Oro. Check out also apple valley check cashing . MasterCard Electronic cards are issued by BPI (Express Cash) and Security Bank (CashLink Plus). All VISA and MasterCard based debit cards in the Philippines are non-embossed and are marked either for "Electronic Use Only" (VISA/MasterCard) or "Valid only where MasterCard Electronic is Accepted" (MasterCard Electronic).

In Poland , local debit cards, such as PolCard, have become largely substituted with international ones, such as Visa, MasterCard, or the unembossed Visa Electron or Maestro. See Also quid check. Most banks in Poland block Internet and MOTO transactions with unembossed cards, requiring the customer to buy an embossed card or a card for Internet/MOTO transactions only [ citation needed ] . The number of banks which do not block MOTO transactions on unembossed cards has recently started to increase. Check out also advance check cashing in tulsa .

[ edit ] Portugal

In Portugal , debit cards are accepted almost everywhere: ATMs, stores, and so on. The most commonly accepted are Visa and MasterCard, or the unembossed Visa Electron or Maestro. See Also quid check. Regarding Internet payments debit cards can't be used for transfers, due to its unsafeness, so banks recommend the use of 'MBnet', a pre-registered safe system that creates a virtual card with a pre-selected credit limit. All the card system is regulated by SIBS, the institution created by Portuguese banks to manage all the regulations and communication processes proply. SIBS' shareholders are all the 27 banks operating in Portugal. See Also affordable apartments without credit check .

In addition to VISA, Master Card and American Express, there are some local payment system based in general on Smart Card technology.

  • Sbercard . This payment system was created by Sberbank around 19951996. It uses BGS Smartcard Systems AG smart card technology that is, DUET . Sberbank was a single retail bank in USSR before 1990. De facto this is a payment system of the SberBank. See Also check advances orlando florida.
  • Zolotaya Korona . This card brand was created in 1994. Zolotaya Korona is based on CFT technology.
  • STB Card . This card uses the classic magnetic stripe technology. It almost fully collapsed after 1998 (GKO crisis) with STB bank failure. Check out also advance check cashing in tulsa .
  • Union Card . The card also uses the classic magnetic stripe technology. This card brand is on the decline. These accounts are being reissued as Visa or MasterCard accounts.

Nearly every transaction, regardless of brand or system, is processed as an immediate debit transaction. Non-debit transactions within these systems have spending limits that are strictly limited when compared with typical Visa or MasterCard accounts.

[ edit ] Saudi Arabia

In Saudi Arabia , all debit card transactions are routed trough Saudi Payments Network (SPAN), the only electronic payment system in the Kingdom and all banks are required by the Saudi Arabian Monetary Agency (SAMA) to issue cards fully compatible with the network. It connects all point of sale (POS) terminals throughout the country to a central payment switch which in turn re-routes the financial transactions to the card issuer, local bank, VISA, AMEX or MasterCard.

As well as its use for debit cards, the network is also used for ATM and credit card transactions.

[ edit ] Singapore

Singapore's debit service is managed by the Network for Electronic Transfers (NETS), founded by Singapore's leading banks and shareholders namely DBS, Keppel Bank, OCBC and its associates, OUB, IBS, POSB, Tat Lee Bank and UOB in 1985 as a result of a need for a centralised e-Payment operator.

However,due to the banking restructuring and mergers, the local banks became UOB, OCBC, DBS-POSB as the shareholders of NETS with Standard Chartered Bank to offer NETS to their customers. However, DBS and POSB customers can use their network atms on their own and not be shared with UOB, OCBC or SCB (StanChart). The mega failure of 5 July 2010 of POSB-DBS ATM Networks (about 97,000 machines) made the government to rethink the shared ATM system again as it affected the NETS system too.

In 2010, in line with the mandatory EMV system, Local Singapore Banks starts to reissue their Debit Visa/Mastercard branded debit cards with the EMV Chip compliant ones compared to the magnetic stripe system in place. Banks involved includes the NETS Members of POSB-DBS, UOB-OCBC-SCB along with the SharedATM alliance (NON-NETS) of HSBC, Citibank, State Bank of India, and Maybank. Standard Chartered Bank (SCB) is also a SharedATM alliance member. Non branded cards of POSB and Maybank local ATM Cards are kept without a chip but has a Plus or Maestro sign so that they can use it only to draw cash locally or overseas.

Maybank Debit Mastercard are also available to use in Malaysia just as a normal ATM or Dedit MEPS card.

Singapore also uses the e-purse systems of NETS CASHCARD and the CEPAS wave system by EZ-Link and NETS.

[ edit ] United Kingdom

In the UK debit cards (an integrated EFTPOS system) are an established part of the retail market and are widely accepted both by bricks and mortar stores and by internet stores. The term EFTPOS is not widely used by the public; debit card is the generic term used. Cards commonly in circulation include Maestro (previously Switch ), Debit MasterCard , Visa Debit (previously Visa Delta ) and Visa Electron . Banks do not charge customers for EFTPOS transactions in the UK, but some retailers make small charges, particularly where the transaction amount in question is small. The UK has converted all debit cards in circulation to Chip and PIN (except for Chip and Signature cards issued to people with certain disabilities), based on the EMV standard, to increase transaction security; however, PINs are not required for internet transactions.

In the United Kingdom, banks started to issue debit cards in the mid 1980s in a bid to reduce the number of cheques being used at the point of sale, which are costly for the banks to process; the first bank to do so was Barclays with the Barclays Connect card. As in most countries, fees paid by merchants in the United Kingdom to accept credit cards are a percentage of the transaction amount, [ 31 ] which funds card holders' interest-free credit periods as well as incentive schemes such as points, airmiles or cashback. Debit cards do not usually have these characteristics, and so the fee for merchants to accept debit cards is a low fixed amount, regardless of transaction amount. [ 31 ] For very small amounts, this means it is cheaper for a merchant to accept a credit card than a debit card. Although merchants won the right through The Credit Cards (Price Discrimination) Order 1990 to charge customers different prices according to the payment method, few merchants in the UK charge less for payment by debit card than by credit card, the most notable exceptions being budget airlines , travel agents and IKEA . [ 32 ] Debit cards in the UK lack the advantages offered to holders of UK-issued credit cards, such as free incentives (points, airmiles, cashback etc.), interest-free credit and protection against defaulting merchants under Section 75 of the Consumer Credit Act 1974 . Almost all establishments in the United Kingdom that accept credit cards also accept debit cards (although not always Solo and Visa Electron ), but a minority of merchants, for cost reasons, accept debit cards and not credit cards.

[ edit ] United States

In the US , EFTPOS is universally referred to simply as debit . The same interbank networks that operate the ATM network also operate the POS network. Check out also advance check ready . Most interbank networks , such as Pulse , NYCE , MAC , Tyme , SHAZAM , STAR , and so on, are regional and do not overlap, however, most ATM/POS networks have agreements to accept each other's cards. This means that cards issued by one network will typically work anywhere they accept ATM/POS cards for payment. For example, a NYCE card will work at a Pulse POS terminal or ATM, and vice versa. Check out also atlanta check cashing . Many debit cards in the United States are issued with a Visa, MasterCard or American Express [ 33 ] logo allowing use of their signature-based networks. See Also athens, ga check cashing .

The liability of a US debit card user in case of loss or theft is up to $50 USD if the loss or theft is reported to the issuing bank in two business days after the customer notices the loss. [ 34 ]

The fees charged to merchants on offline debit purchasesand the lack of fees charged merchants for processing online debit purchases and paper checkshave prompted some major merchants in the US to file lawsuits against debit-card transaction processors such as Visa and MasterCard. In 2003, Visa and MasterCard agreed to settle the largest of these lawsuits and agreed to settlements of billions of dollars [ citation needed ] .

Some consumers prefer "credit" transactions because of the lack of a fee charged to the consumer/purchaser; also, a few debit cards in the US offer rewards for using "credit" (for example, S&T Bank's "Preferred Debit Rewards Card" [ 35 ] ). However, since "credit" costs more for merchants, many terminals at PIN-accepting merchant locations now make the "credit" function more difficult to access. For example, if you swipe a debit card at Wal-Mart in the US, you are immediately presented with the PIN screen for online debit; to use offline debit you must press "cancel" to exit the PIN screen, then press "credit" on the next screen. See Also check advances orlando florida.

2009-07-08: Minimum and Maximum Charges for Visa in USA

The Merchants Agreement for Visa states (page 9, or 14/141 in PDF):

Always honor valid Visa cards in your acceptance category, regardless of the dollar amount of the purchase. Imposing minimum or maximum purchase amounts in order to accept a Visa card transaction is a violation of the Visa rules. [ 36 ]

As a result of the Dodd-Frank Act, US merchants can now set a minimum purchase amount on credit cards (but not debit cards), not to exceed $10. [ 37 ] [ 38 ]

[ edit ] FSA, HRA, and HSA debit cards

In the USA , a FSA debit card only allows medical expenses. Check out also advance check cashing in tulsa . It is used by some banks for withdrawals from their FSAs , MSAs , and HSAs as well. See Also apply for check card . They have Visa or MasterCard logos, but cannot be used as "debit cards", only as "credit cards"", and they are not accepted by all merchants that accept debit and credit cards, but only by those that accept FSA debit cards . Merchant codes and product codes are used at the point of sale (required by law by certain merchants by certain dates in the USA) to restrict sales if they do not qualify. Because of the extra checking and documenting that goes on, later, the statement can be used to substantiate these purchases for tax deductions. In the occasional instance that a qualifying purchase is rejected, another form of payment must be used (a check or payment from another account and a claim for reimbursement later). In the more likely case that non-qualifying items are accepted, the consumer is technically still responsible, and the discrepancy could be revealed during an audit. Check out also find a apartment in raleigh nc to rent with no credit check by owener. A small but growing segment of the debit card business in the US involves access to tax-favored spending accounts such as flexible spending accounts (FSA), health reimbursement accounts (HRA), and health savings accounts (HSA). Most of these debit cards are for medical expenses, though a few are also issued for dependent care and transportation expenses. See Also check advances orlando florida.

Traditionally, FSAs (the oldest of these accounts) were accessed only through claims for reimbursement after incurring, and often paying, an out-of-pocket expense; this often happens after the funds have already been deducted from the employee's paycheck. (FSAs are usually funded by payroll deduction.) The only method permitted by the Internal Revenue Service (IRS) to avoid this "double-dipping" for medical FSAs and HRAs is through accurate and auditable reporting on the tax return. Statements on the debit card that say "for medical uses only" are invalid for several reasons: (1) The merchant and issuing banks have no way of quickly determining whether the entire purchase qualifies for the customer's type of tax benefit; (2) the customer also has no quick way of knowing; often has mixed purchases by necessity or convenience; and can easily make mistakes; (3) extra contractual clauses between the customer and issuing bank would cross-over into the payment processing standards, creating additional confusion (for example if a customer was penalized for accidentally purchasing a non-qualifying item, it would undercut the potential savings advantages of the account). See Also athens, ga check cashing . Therefore, using the card exclusively for qualifying purchases may be convenient for the customer, but it has nothing to do with how the card can actually be used. If the bank rejects a transaction, for instance, because it is not at a recognized drug store, then it would be causing harm and confusion to the cardholder. In the United States, not all medical service or supply stores are capable of providing the correct information so an FSA debit card issuer can honor every transaction-if rejected or documentation is not deemed enough to satisfy regulations, cardholders may have to send in forms manually. Check out also advance check ready .

[ edit ] See also please. [ edit References to
  1. ^ Skra kortbetalningar p Internet | Nordea.se
  2. ^ "Swedbank e-kort" . Swedbank . http://www.swedbank.se/sst/inf/kort-och-betalningar/0,,135189,00.html .
  3. ^ Martin, Andrew (January 4, 2010). "How Visa, Using Card Fees, Dominates a Market" . New York Retrieved 2010-01-06 .
  4. ^ [1]
  5. ^ http://www.creditcards.com/credit-card-news/prepaid-debit-card-benefits-1271.php
  6. ^ http://goyow.com/
  7. ^ http://www.transcash.com/
  8. ^ a b c "Debit card facts" . US PIRG . http://www.pirg.org/consumer/banks/debit/debitcards1.htm .
  9. ^ Your Liability for Unauthorized Credit and Debit Card Charges
  10. ^ Fact Sheet 131: Credit Card vs. Debit Card
  11. ^ "Dollar Car rental - General Policies" . Dollar car rental . http://www.dollar.com/AboutUs/GeneralPolicies.aspx .
  12. ^ a b "They Want You to Go Over Your Debit Limit" . See Also apply for check card . The Washington Post, Michelle Singletary, July 19, 2007. 2007-07-19 . http://www.washingtonpost.com/wp-dyn/content/article/2007/07/18/AR2007071802394.html . Retrieved 2010-05-01 .
  13. ^ Prepaid Debit FAQ
  14. ^ MasterCard Maestro
  15. ^ http://www1.folha.uol.com.br/fsp/dinheiro/fi3004201007.htm
  16. ^ http://esask.uregina.ca/entry/automated_teller_machines.html
  17. ^ "Consumers and Changing Retail Markets" . Canada's Office of Consumer Affairs (OCA) . http://www.ic.gc.ca/eic/site/oca-bc.nsf/eng/ca02096.html .
  18. ^ "NYCE - Participating Canadian Financial Institutions" . NYCE Payment network . http://www.nyce.net/consumers/canadian/canadian_banks/index.htm .
  19. ^ FCAC - For the Industry - Reference Documents
  20. ^ Dankortet fylder 25 r i dag
  21. ^ a b c PBS rsrapport 2007
  22. ^ http://www.deccanherald.com/content/21014/rbi-fixes-five-free-atm.html
  23. ^ "India card to replace Master, Visa" . mydigitalfc.com. 6 December 2009 . http://www.mydigitalfc.com/banking/india-card-replace-master-visa-221 .
  24. ^ "RuPay card Launch" . NPCI. March 2011 . http://www.npci.org.in/photo21.aspx .
  25. ^ "India card to be called Rupay" . http://www.financialexpress.com/news/indiapays-name-changed-to-rupay/730023/1 .
  26. ^ "India card to be called Rupay" . The Times Of
  27. ^ eBank Money Card - eBank Corporation(Japan)
  28. ^ "Payment and Settlement Systems in New Zealand" . Reserve Bank of New Zealand . March 2008 . http://www.rbnz.govt.nz/finstab/payment/3236268.pdf . Retrieved 2010-09-19 .
  29. ^ https://www.paymark.co.nz/cms_display.php?sn=31&st=1
  30. ^ http://www.stuff.co.nz/stuff/0,2106,3521599a10,00.html
  31. ^ a b "Electronic payment system pricing" . RSTO electronic-payments.co.uk . http://www.electronic-payments.co.uk/pricing.jsp .
  32. ^ "IKEA FAQ 70p charge on credit cards in IKEA stores" . IKEA . http://www.ikea.com/ms/en_GB/customer_service/faq/faq.html#0700 .
  33. ^ "Prepaid Cards" . American
  34. ^ Consumer Handbook to Credit Protection Laws: Electronic Fund Transfers
  35. ^ http://www.stbank.com/PreferredAccount/DebitRewardsCard.aspx
  36. ^ http://usa.visa.com/download/merchants/rules_for_visa_merchants.pdf
  37. ^ http://usa.visa.com/about_visa/ask_visa/index.html
  38. ^ http://www.paymentssource.com/news/merchants-debit-transactions-cheaper-3003058-1.html

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