 MSaukMSaukPremium
join:2002-01-17
Sandy, UT | reply to gballer
Re: hmmmm I used it and really liked how easy and fast it was to use.
Also I am shocked (well I guess not to shocked) at how far behind we are when it comes to CC security here in the US. Over in Europe back in 99 they were already used CC's or bank cards with chips in them!
Hell we still don't have that here. How sad is that!
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 LinklistPremium
join:2002-03-03
Longport, NJ
kudos:5 | said by MSauk:I used it and really liked how easy and fast it was to use.
Also I am shocked (well I guess not to shocked) at how far behind we are when it comes to CC security here in the US. Over in Europe back in 99 they were already used CC's or bank cards with chips in them!
Hell we still don't have that here. How sad is that!
Sure we do. I know a couple people with chips in their MC credit cards and they just wave card over the MasterCard PayPass terminals at CVS, WAWA, RiteAid, Home Depot, Mcdonalds, Sunocos, etc,etc.
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The nine most terrifying words in the English language are, I'm from the government and I'm here to help.
»www.politico.com/2012-election/
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| But it's pretty much useless since so few places support it. I worked at a large movie theater chain for a few summers and I *think* we had those wireless CC reader things, but nobody in the staff knew how to work them and no customers ever used them. I have no idea if our cash register software even accepted them. Most of the time the readers were stuck between the cash register and the wall. |
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MSaukMSaukPremium
join:2002-01-17
Sandy, UT | reply to Linklist
But over there it seems to be mandatory? (more of a question then a statement) or widespread than in the US.
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| said by MSauk:But over there it seems to be mandatory? (more of a question then a statement) or widespread than in the US.
In Europe, chipped credit cards are the default. Merchants are supposed to be able to accept the obsolete magnetic stripe cards, but not all do. And many ticket machines (like for the railroads) do not accept magnetic stripe cards. This issue comes up a lot on travel sites. |
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Reviews:
 ·AT&T U-Verse
| reply to Linklist
said by Linklist:said by MSauk:I used it and really liked how easy and fast it was to use.
Also I am shocked (well I guess not to shocked) at how far behind we are when it comes to CC security here in the US. Over in Europe back in 99 they were already used CC's or bank cards with chips in them!
Hell we still don't have that here. How sad is that!
Sure we do. I know a couple people with chips in their MC credit cards and they just wave card over the MasterCard PayPass terminals at CVS, WAWA, RiteAid, Home Depot, Mcdonalds, Sunocos, etc,etc. It's not the same! The "chipped" cards from Europe have contacts just like an old phone card. This has nothing to do with the wireless "paypass" feature.
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Reviews:
·AT&T U-Verse
 ·Mediacom
 ·T-Mobile US
| said by MSauk:I used it and really liked how easy and fast it was to use.
Also I am shocked (well I guess not to shocked) at how far behind we are when it comes to CC security here in the US. Over in Europe back in 99 they were already used CC's or bank cards with chips in them!
Hell we still don't have that here. How sad is that!
Some large US banks now issue credit cards with chips to frequent overseas travelers.
Also you are free to set up an account with debit chip card in Canada or Europe even if you are not citizen of any foreign country. You may be required to provide a local residence address though. |
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| ...and you're free to pay foreign transaction fees too with those banks. |
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Reviews:
·AT&T U-Verse
·Mediacom
·T-Mobile US
| No foreign atm transaction fee if you withdraw cash with ATM Global alliance bank. Here in the U.S, Bank of America is in this one. You just have to know foreign partner bank in a country you visit.
Also those foreign transaction fees are not big, but they add up if you use a lot. You still need to use a CC in certain highway tolls, gas pump stations or self-serve train kiosks. |
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Reviews:
·AT&T U-Verse
| reply to jjeffeory
said by jjeffeory:...and you're free to pay foreign transaction fees too with those banks.
As opposed to having to carry large amounts of cash and having the same fee (if not higher) buried into the exchange rate at some currency exchange place. |
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Reviews:
·Hargray Cable
| said by cowboyro:said by jjeffeory:...and you're free to pay foreign transaction fees too with those banks.
As opposed to having to carry large amounts of cash and having the same fee (if not higher) buried into the exchange rate at some currency exchange place. Cash is actually more expensive then using any CC when in a different country. |
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| reply to cowboyro
Currency exchanges are always more expensive than a visit to a local bank. |
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Reviews:
·AT&T U-Verse
| said by chgo_man99:Currency exchanges are always more expensive than a visit to a local bank.
Not always, sometimes. Airports and hotels are the places with the worst rates.
Even exchanging at the local bank is a rip-off. Depends on currency and the country. And selling back your unused foreign currency for USD is even worse. |
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Reviews:
·AT&T U-Verse
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·T-Mobile US
| said by cowboyro:said by chgo_man99:Currency exchanges are always more expensive than a visit to a local bank.
Not always, sometimes. Airports and hotels are the places with the worst rates. Even exchanging at the local bank is a rip-off. Depends on currency and the country. And selling back your unused foreign currency for USD is even worse. I agree. When came back from Canada, I had $10 Canadian dollars left in my wallet, and got back only $5.XX since local exchange ripped off this transaction $3 just for transaction. |
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MSaukMSaukPremium
join:2002-01-17
Sandy, UT | reply to CharlesH1
Yep, like I said when I was over there in 99 it seemed pretty standard. So why have the CC companies been so far behind the times here? Why is that acceptable to not be secure? Fraud is good for them? Hoping that most people miss it? I don't know but it does frustrate me that we are not ahead more tech wise in that area.
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Reviews:
·AT&T U-Verse
·Mediacom
·T-Mobile US
| 1. Cost of covering fraud is lower than replacing the whole system
2. All cc terminals in the us are linked online and all transactions are verified. In Europe offline cc transactions are not uncommon.
3. Protects well against cloning fraud but not online fraud
4. Customers do not want more liability for purchases when PIN replaces signature.
5. "Greed is good" - Gordon Gekko |
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jp10558Premium
join:2005-06-24
Willseyville, NY | reply to chgo_man99
I don't know how workable it is for changing countries, but there are online services like »www.xe.com/fx/how.php ... Not sure if you'd save money once you got the funds to them and then back out... |
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| this is for cashless transactions, not exactly something for $10 in cash. |
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