▲ 1393 ▼ Mastercard/Visa’s control (thelemmy.club) submitted 7 months ago by ontariobay@lemmy.world to c/curatedtumblr@sh.itjust.works 231 comments fedilink hide all child comments
[–] ColeSloth@discuss.tchncs.de 2 points 7 months ago (1 child) It's hard to use a debit card? permalink fedilink source parent hideshow 2 child comments replies: [–] bruhbeans@lemmy.ml 0 points 7 months ago (2 children) That's different from bank transfers, and, in the US, debit cards are weird permutations of credit cards, they either have a Visa or MasterCard logo and the fee structure is different from credit cards but not zero (maybe? It's changed a bunch and the fees are usually hidden from customers) permalink fedilink source parent hideshow 4 child comments replies: [–] Holytimes@sh.itjust.works 2 points 7 months ago The fees just straight up don't exist for customers now. They havent for decades. Its even illegal to charge one at all if your bank has a few billion in assets. So at worse a company might pass their processing fees onto their customers. But banks can't charge you one and most companies don't either. It's just a cost of doing business. So only the poorest shittiest banks, and the shittiest companies charge one. That or small businesses that can't afford to eat the 2.5 to 3% that's common. But functionally debt cards are just a free service as far as the consumer is concerned. permalink fedilink source parent [–] ColeSloth@discuss.tchncs.de 0 points 7 months ago* (last edited 7 months ago) You obviously don't have a debit card. It's not "a permutation" of a credit card and they don't come from visa or MasterCard. You're talking about a credit line through your bank. I own a debit card. From my bank. With only my bank as the issuer. It takes money directly from my bank account when I use it. No creditor involved. It's a money transfer straight from my bank account to the retailer I use it at. Millions of people have them. permalink fedilink source parent
[–] bruhbeans@lemmy.ml 0 points 7 months ago (2 children) That's different from bank transfers, and, in the US, debit cards are weird permutations of credit cards, they either have a Visa or MasterCard logo and the fee structure is different from credit cards but not zero (maybe? It's changed a bunch and the fees are usually hidden from customers) permalink fedilink source parent hideshow 4 child comments replies: [–] Holytimes@sh.itjust.works 2 points 7 months ago The fees just straight up don't exist for customers now. They havent for decades. Its even illegal to charge one at all if your bank has a few billion in assets. So at worse a company might pass their processing fees onto their customers. But banks can't charge you one and most companies don't either. It's just a cost of doing business. So only the poorest shittiest banks, and the shittiest companies charge one. That or small businesses that can't afford to eat the 2.5 to 3% that's common. But functionally debt cards are just a free service as far as the consumer is concerned. permalink fedilink source parent [–] ColeSloth@discuss.tchncs.de 0 points 7 months ago* (last edited 7 months ago) You obviously don't have a debit card. It's not "a permutation" of a credit card and they don't come from visa or MasterCard. You're talking about a credit line through your bank. I own a debit card. From my bank. With only my bank as the issuer. It takes money directly from my bank account when I use it. No creditor involved. It's a money transfer straight from my bank account to the retailer I use it at. Millions of people have them. permalink fedilink source parent
[–] Holytimes@sh.itjust.works 2 points 7 months ago The fees just straight up don't exist for customers now. They havent for decades. Its even illegal to charge one at all if your bank has a few billion in assets. So at worse a company might pass their processing fees onto their customers. But banks can't charge you one and most companies don't either. It's just a cost of doing business. So only the poorest shittiest banks, and the shittiest companies charge one. That or small businesses that can't afford to eat the 2.5 to 3% that's common. But functionally debt cards are just a free service as far as the consumer is concerned. permalink fedilink source parent
[–] ColeSloth@discuss.tchncs.de 0 points 7 months ago* (last edited 7 months ago) You obviously don't have a debit card. It's not "a permutation" of a credit card and they don't come from visa or MasterCard. You're talking about a credit line through your bank. I own a debit card. From my bank. With only my bank as the issuer. It takes money directly from my bank account when I use it. No creditor involved. It's a money transfer straight from my bank account to the retailer I use it at. Millions of people have them. permalink fedilink source parent
