Quote:
Originally Posted by pilotbob
Generally here in the US... unless it has changed there is usually a per-transaction fee to use your debit card. It could be $.25-$3 depending on the merchant/bank.
There is no borrowed money (credit) with the debit card... so no interest. The card is declined in the balance won't cover it.
I'm not sure about the Electron brand.
BOb
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Ouch on the per transaction fees. I Guess it reflects the difference in cultures, that most people here use debit cards for everything, almost never using cash. Banks have cottoned onto that,and made Debit cards easily available, and something I love have mostly scrapped ATM fees, and with peering agreements, I've not had to pay a ATM fee in years, no matter which banks ATM I use.
I think credit cards are a little harder to get, not that much but a little.
Also, while Debit cards don't have a credit limit, you can pretty easily get a bank overdraft, turning you current account into a pseudo Credit card, at least for me as I tend to keep most of my money in my savings account, just transferring over enough every month to cover expenses.
Oh, and you can use some debit cards as Cheque Gurantee cards, though I've never had to use it that way and seen someone use it for that in real life.