[kwlug-disc] Cash becoming illegal?

[rbclemen at gmail.com]

Essentially Visa Debit is indistinguishable from pre-paid credit cards, except for the fee schedule

Brent
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-----Original Message-----
From: William Park <opengeometry at yahoo.ca>
Sender: kwlug-disc-bounces at kwlug.org
Date: Fri, 5 Nov 2010 14:37:28 
To: KWLUG discussion<kwlug-disc at kwlug.org>
Reply-To: KWLUG discussion <kwlug-disc at kwlug.org>
Subject: Re: [kwlug-disc] Cash becoming illegal?

On Fri, Nov 05, 2010 at 02:13:16PM -0400, Eric Gerlach wrote:
> On Fri, Nov 5, 2010 at 2:08 PM, Phil Longstaff <plongstaff at rogers.com> wrote:
> > Conversely if you were told you would be charged that same 2% to
> > 4% more because you're using a credit card would you still use it?
> 
> Worst part is, as a vendor we're not allowed to charge different
> prices for credit cards.  Part of the agreement.

Yes, you can't charge more.  But, you can charge less, hence "cash
discount" that you see at most computer stores.

> 
> > Visa actually introduced a new credit card last year, I forget the name. It
> > added an extra couple of percent to the amount charged to vendors. The
> > vendors contractually could not refuse to take payment using this card.
> > Again the customer was unaware of the extra charge but the vendors were
> > furious.
> 
> Visa Debit cards.  You get charged the percentage fee of Visa, and the
> per transaction fee of a Debit card!  It's two, *two*, *TWO* fees in
> one!

Visa Debit?  Isn't debit supposed to be from Bank account directly?

> 
> Cheers,
> 
> Eric

-- 
William


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