I have noticed as of late that I often find myself in the queue at a coffee shop/grocery store/corner market waiting to pay for my goodies, frantically pulling out cash & coinage to pay the attendant. It’s a bit funny to me, because the ‘Life takes Visa‘ commercial frequently runs through my head during this scenario [watch it here]. In the US, cards are commonplace; you use them everywhere, and if you happen to be the token individual that still uses cash (what’s wrong with you?), you throw off everyone’s pattern. No one wants cash anymore, people don’t like to make change (not actually sure if they know how to make change anymore), and cards are quick and easy. In the UK, however, cash is ridiculously common… cards, not so much. The process of using a card here is actually a bit cumbersome as compared to the US. You can’t just swipe, PIN and go; here, you have to insert the card (with the ‘chip’), enter your PIN and wait a good 20 – 30 seconds before anything is actually approved. I swear there’s a little person inside the machine that has to call the bank and get approval before you can walk away with your morning latte. It’s a bit asinine. On top of that, loads of places are cash only [is it still 1995?] and if I do use my card, I feel like everyone behind me is scowling… how dare I use a card instead of good old cash?! Don’t I know that cash is soooo much easier?

I’ve actually become quite accustomed to using cash now. So much so that I can almost count the number of times that I’ve actually used my debit card in store. Most of the time, I use it at the cash machine or for making online purchases in pounds sterling. Definitely an oddity for me… still learning to acclimate, I guess

Also weird — 1p & 2p coins. I understand having a £1 and £2 coin, but 1 pence versus 2 pence?? What is the point of a 2p? Long ago, we discovered the uselessness of $2 bills… I can’t imagine a place where we would use a coin that was the equivalent of 2 pennies! I’m sure that material could better be used elsewhere. Jewelry, perhaps.

]]> http://eideard.wordpress.com/2009/11/22/i-bought-an-atm-machine-off-craigslist-for-750-with-1000-credit-card-numbers-inside-yup-so-much-for-security/ Sun, 22 Nov 2009 09:00:47 +0000 eideard http://eideard.wordpress.com/2009/11/22/i-bought-an-atm-machine-off-craigslist-for-750-with-1000-credit-card-numbers-inside-yup-so-much-for-security/ http://geogee.wordpress.com/2009/11/19/retail-sales-cashback-scam-alert/ Fri, 20 Nov 2009 03:31:08 +0000 geogee http://geogee.wordpress.com/2009/11/19/retail-sales-cashback-scam-alert/ http://moneyunderyourfuton.wordpress.com/2009/11/19/rewards-in-checking-citibank/ Thu, 19 Nov 2009 15:21:09 +0000 Emy http://moneyunderyourfuton.wordpress.com/2009/11/19/rewards-in-checking-citibank/

This is Money Under Your Futon’s 101^st post!  To celebrate this occasion and thank our readers, we are announcing our new e-mail address: moneyunderyourfuton [at] gmail [dot] com.  Please feel free to send us your money-related questions, and we will try to respond to them in future posts.

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It is hard to make money off your checking account.  With a few exceptions, such as ING’s interest-paying Electric Orange account, most checking accounts give you no more cash than what you have already deposited into them.  And some don’t even offer that, as their maintenance fees slowly chisel through your balance.  But sometimes a bank promotion can transform a regular checking account into part of a relatively generous program.

With Citibank, for example, you can earn ThankYou points every month simply for having a checking account with a debit card and direct deposit.  The ThankYou Network allows for point accumulation through several services and merchants, including Citibank and Expedia, though the fastest way to earn points is usually through one of Citibank’s credit cards tied to the program.  But Citibank also gives its checking customers monthly ThankYou points for coupling the account with at least any two other services, such as having a debit card, direct deposit, or online bill payment.  The monthly points range from 25 to 1,200, depending on the type of checking account and the number of services linked to it (click here for a table detailing the points per account type and number of services).

You can also earn even more ThankYou points if you use your Citibank debit card for purchases.  Although the credit card offers tends to be more generous, Citibank has jumped into the bank trend of linking debit cards to reward programs in an attempt to attract more customers dropping credit cards in response to the crisis.  For purchases made with a Citibank debit card, you can earn 1 ThankYou point for every $2 spent on signature purchases (i.e., a purchase that requires your signature on the receipt) and 1 point for every $3 on purchases using your PIN.

If you already have a ThankYou Network account, make sure to get points for your checking and debit card use.  Call customer service (1800-THANKYOU) to link your checking account to the network.  And if you have a Citibank checking account but are still not in the ThankYou Network, consider joining it and reaping rewards, especially if you use the other partners in the network, have a high-end account for which you can get a lot of points per month, or use your Citibank debit card frequently.

With the current low interest rates on savings account, you may find that your checking account gives you more bang for your buck.

The payment network/platform is a two-sided market that matches users from two different groups enabling them to do business; in this case, consumers carrying cards, and retailers accepting cards. Two-Sided Market theory models the pricing and demand of platform services which involve interactions between two distinct groups. Typically, two-sided markets have a “subsidy side” that is a high volume group of users who are valued by the “money side”, or the other user group.  In the retail industry these two groups are the merchants and consumers, where the merchant is the “money side” because they value the large group of consumers carrying payment cards. Two-Sided economics explains the allocation of prices between the two groups. The key ingredient is that at least one side of the platform needs to deeply care about the number of participants on the other side.

The goal of a platform operator (Visa/Mastercard) is to generate “cross-side” network effect. If a platform can attract enough users, the money-side will pay handsomely to reach them. This is what happens in the retailer industry with credit cards and why the interchange fee keeps going up.  Interchange does not represent or reflect any specific operational cost being incurred by the network; rather it is a reflection on the value that the retailer places on access to the card user. http://www.linkedin.com/in/peterguidi

A few weeks ago, I told you about my addictive personality. It was at this time I began an experiment with my finances. I told myself if I could go two weeks without using my best friend Chase Visa, I could make a bigger commitment to myself to get out of debt. Fourteen days came and went without using and it my body did not spontaneously combust like I imagined it would without the security of falling back on the card.

It was also at this time that I experimented with the cash vs. debit card debate my mind struggles with every day. I am adamant in my habit of never having cash unless A) I am going out (not a good idea to use the card for rounds at the bar -lesson learned the hard way) or B) I am going somewhere that takes dough only (which is another issue I get, um, passionate about. One too many times I have told a business/restaurant/etc. “It’s 2009. Who doesn’t take cards!” Only it’s not said so nicely.)

So when I accidentally had some cash on me, I wanted to see how long I could hold on to it.

I actually didn’t want to use it. Instead, I preferred to stare at it, in my wallet, like some kind of daily reward for being smart about my finances. I treated those bills like gold, people. I avoided impulse purchases and used it for necessary things that were well-thought out. It’s so easy to just swipe, swipe, swipe and I can definitely purchase without thinking twice.

So last week, I did something big.

I know you’re probably wondering, “Why didn’t she just cut it up? Or take it out of her wallet and just not use it?”

I don’t want to get rid of the card completely. Closing accounts is not good for credit and some day I will have a much lower balance and want to use the card again. I realize it may not work after living in my freezer for months, and that’s OK. I’ll cross that bridge when I get to it.

I’m not taking it out or hiding it because I know that simply will not work. I have self-restraint, but not that much.

Plus, it’s a visual reminder. Every day when I get out ice for my Green Monsters or make pb&j waffles before my runs, it will be there. Staring me in the face. Like I said, I need a little reward staring me in the face every day.

And, if there should occur an occasion where I need it in an emergency, I have a back up plan. People went years without credit cards and some still do today. Plus, an overwhelming percentage of people in my age bracket have $10,000 or more in credit card debt. That’s one statistic I don’t want to be a part of.

What about you? Are you struggling with debt or another pricey addiction? What did you do to overcome it once and for all?

You son of a bitch.  You would, wouldn’t you.  This isn’t the Mushroom Kingdom and you certainly aren’t Mario so put away all your dirty gold coins.  Not cool dude, not cool at all.

Sonic. A place that brings you back to the days when men wore gray flannel suits and women wore dresses with pinched in waists and high heels. Back when girls only played with Barbie and boys idolized Davy Crockett. Back when everyone knew what a Drive in Movie theatre was. People now would be wondering how you fit that many cars inside a building. Speaking of cars. Sonic was around when the guys would drive their “cool” ride into the lot. If only these many before me had warned me that you are not suppose to walk into Sonic! You are truly missing out if you have never been to this “blast to the past” place before. Not only does it serve a Cherry Limeade that is mouth watering but also makes for a good story if you try to walk inside to tell them about a mistake that happened! What happened was they had tables near the entrance that you can sit at to eat your food. Well they brought out the food and everyone was happy except for one little thing. I had a gift card that I didn’t use! So I quickly made my way through the front door to catch the lady before she swiped my debit card (Not a Credit Card because Dave Ramsey would have been shaking his finger at me). Before I put my foot on that floor inside, I saw every head turn towards the intruder… Me. By the time I had taken my second step a manager had literally ran from around the corner almost taking me out in the process. With as much authority as a Sonic Manager can do he said, “I am sorry but because of insurance purposes, Sir, we cannot have you in this building”. All eyes were now on me to see my response but to me it was pretty simple. I said “Ok, can you give the lady at the register this gift card before she runs my Debit Card?”. I felt the tension lift from the air and everyone inside continued with making burgers and scooping fries. So just beware fellow Sonic lovers! Who knows what would have happened if I had taken another step… So be safe and don’t go inside the building : )

***If you have any funny stories about fast food restaraunts, I would love to hear about them!

Ten years on and off, the bank, the grocery store, the liquor store and then home. His taste changed when he would read about a new meal that was best for a man of his age. His eyes would crinkle and a wide grin would spread across his dimpled old chin when he discovered a new beer or a new “glen” that needed exploring.

This was our routine. I drove a different car almost every time we met. Some junker or “good find” that would somehow find a way out of my life before I was there to take him out on his errands again. As I matured my cars were more permanent, but of course I was beginning to see less and less of him.

It has been ten years since we practiced this. He has been gone for a year now, but I moved away many years prior. Shortly after that he began to move on too, in his own way. He spent a splendid time mending old fences and pushing his curved little frame toward the century mark.

I made a trip to his bank today. The second visit in as many months. I also found myself in his grocery store, albeit remodeled, it was his 2^nd choice and one we would pick up only a few necessities as it was so close to his bank. As I said, it was his 2^nd choice. He preferred the one across the street.

As I waited in his bank I could feel myself slipping back to the state of mind of a thirteen year old. Even my body was slouching with that awkwardly morose hybrid of cool and insecure. I found myself getting impatient, like I always do, but this time with the nervous energy of an adolescent.

I remember how he would carefully remove his debit card from its protective sleeve and place it meticulously into the slot. He would raise his head to position his eyes so that he could read the screen through his corrective lenses. He was always a man of precision. He was a cartographer after all.

I watched him place his card back into its protective sleeve and then back into his wallet. He would always give me a little bit of cash and ask if that was enough. It was a sort of gift to help raise my spirits. It was always appreciated and I tried to spend it well. I am sure that this went on for far too long.

I don’t want to go back to that bank ever again. I don’t want to go back to that grocery store, even if it was his 2^nd choice. I don’t want to be who I was when I was thirteen, when I was eighteen, when I was twenty-four, twenty-nine. Not again. Not without him. My debit card rests peacefully in its protective sleeve.

Courtesy of Mira Hartford (via Flickr)

The Federal Reserve is setting some new rules that will soon protect you from overdraft fees on ATM and debit card transactions. In fact, banks will only be able to charge these fees if you ‘opt in’ and sign up for overdraft protection.

The rules, which take effect July 1, require banks to inform customers of their overdraft services and offer coverage. If you choose not to opt in, and refuse the service, any ATM or debit card transaction that overdraws your account will be denied. In other words – banks can only let you spend what you have. Keep in mind the new rules do not cover bounced checks or automatic payments since many customers want their rent, utilities and whatnot covered just in case. Whether you opt in or not, some good advice: stay aware of your balance and only spend what you have.

Will you opt in and take the overdraft protection? Let us know what you think about the new rules in the comment section.

Now is a great time to track your spending, start a family budget, and get financially fit with The Beehive.

Last month the House Financial Services Committee took testimony on H.R. 2382 from both the Financial Industry and representatives of the Merchants Payments Coalition which represents NACS. Both parties represented their point of view. On the retailer side, the argument remains that the retailers are unable to negotiate with the card associations for lower prices. Retailers expressed that banks and card associations are monopolistic so, congress should act to legislate and control fees or at least give retailers the ability to negotiate for lower fees and that the payment providers should be subject to Anti-Trust legal action. The key evidence being the “outrageous” swipe fees retailers pay to accept a credit card. On the other hand the Banks cried foul claiming that retailers are simply trying to use their power to gain the valuable credit card payment services without having to pay a fair price. The credit card representatives presented an argument demonstrating that interchange fees are fair, and in fact are undervalued.

This raises the question: Why would Merchants accept payment cards if the fees associated with the card are greater than the benefits? Interchange is a fee for a service that brings value to consumers and retailers and while retailers may have choices about method of payment, or even alternative payments, it turns out that promoting a method of payment is expensive and time consuming. It’s so much easier to put a sticker on the door that says” MasterCard and Visa” accepted here.  Eleanor Roosevelt once said, “It is not fair to ask of others what you are unwilling to do yourself” and therein may lay the answer. (http://www.linkedin.com/in/peterguidi)

Now all banks will have to secure their customers’ consent before charging large overdraft fees on ATM and/or debit card transactions, according to a new rule announced today by the Federal Reserve.

The rule is in response to complaints that the overdraft fees are unfair because many people assume they can’t spend more on a debit card than is available in their account. Instead, many banks allow the transactions to go through, then charge fees of up to $35 per event. According to research some banks earn as much as $38 billion annually from overdraft fees.

The new rule will take effect July 1, 2010 and will require all banks to notify new and existing customers of their overdraft services and give customers the option of being covered. If customers don’t “opt in,” any debit or ATM transactions that overdraw their accounts will be denied, Fed officials said.

Source: The Atlanta Journal Constitution

One factor remains the same whether you are purchasing a credit card terminal or new software for your computer and that is, making sure your equipment is compatible with your current system.  It is also extremely important that your new system is supported by your merchant account provider.

Everyone has experienced that moment at check out in a retail store where something is going wrong with the merchant terminal. It could be the customer is not entering their information correctly due to an “un-userfriendly” credit card terminal or perhaps the employee is not familiar with how the equipment works.

Either way, as the frustrated employee and customer try and find a solution customers begin to pile up behind them thus causing time delays for numerous individuals.

Below are some helpful hints on choosing the correct terminal for your business and consequently avoiding timely delays and frustrations during your merchant terminal transaction:

• Traditional credit card terminals: Stationary credit card terminals work for the vast majority of businesses. They can come with or without printers and many can also accept debit card swipes.
• Wireless credit card terminals: Wireless credit card terminals are used by many taxi drivers and even in some restaurants. Make sure your merchant service provider supports the wireless credit card terminals you decide to purchase, and has plans to continue to support them in the immediate future.
• Virtual credit card terminals: If you do the majority of your business over the phone or Internet, consider using virtual credit card terminal software. It allows you to contact your merchant account provider over the Internet and it can be customized to automate recurring charges or calculate taxes and discounts.

Author: Thomas
Source: articleage.com

What is a Debit Card?

The agenda you use at the ATM is accepted as a debit card. If debit, www.eppicard.com, cards aboriginal appeared it was simple to acquaint them afar from acclaim cards. Debit cards didnย’t accept a acclaim agenda aggregation logo on them; instead, they usually just, www.eppicard.com, had your coffer name, your anniversary bulk and your name.

Today debit cards attending absolutely like acclaim cards even accustomed the aforementioned logos.

Both types of cards can be swiped at the checkout adverse , acclimated to accomplish purchases on the internet, or to pay for the fill-up at the gas pump. If you use your debit agenda to accomplish a purchase, itย’s just like using cash. The anniversary that is absorbed to your debit card, in a lot of cases your blockage account, is automatically debited if you use your debit card. The bulk of your acquirement is deducted from the funds you accept in that account. In the case of a acclaim card, you can pay just 5% of your bill bulk and backpack advanced the antithesis to be paid the next time.

You do not accept to achieve all in one go. This, www.eppicard.com, is referred to as revolving credit.

What is a Acclaim Card?

On the added hand,, www.eppicard.com, if you use your acclaim agenda to accomplish a acquirement you are using someoneย’s elseย’s money, accurately the issuer of the acclaim card, usually a cyberbanking institution.

In effect, you accede to pay them aback the money you adopted to accomplish your purchase. In accession you will aswell pay absorption on the money ย”loanedย” to you at the amount which you agreed to if you activated for their acclaim card.

This is accepted as the anniversary allotment amount (APR). While the two cards ability act and attending alike, the levels of chump aegis that anniversary blazon of agenda provides can be different.

Credit Cards action Better Protection!

Under federal law, if anyone steals your acclaim agenda you’re alone amenable to pay the aboriginal $50 of crooked charges. However, if you acquaint the acclaim agenda issuer afore a bandit is able to accomplish any accuse you may be chargeless from all liability.

If the acclaim agenda is not physically present if an crooked or counterfeit acquirement is made, such as over the internet, youย’re aswell chargeless from accountability for those charges.

MasterCard and Visa action zero-liability aegis area you wonย’t pay any accuse if anyone uses your acclaim agenda to accomplish an crooked purchase.

The aegis offered to debit agenda artifice is agnate but with a few exceptions. For example, your accountability beneath federal law is bound to $50, the aforementioned as for a acclaim card, but alone if you acquaint the issuer aural two business canicule of advertent the card’s accident or theft.

Your accountability for debit agenda artifice can jump up to $500 if you donย’t address the accident or annexation aural two business days. And if you are the blazon of being that gives a casual glance to your annual coffer statement, you could be absolutely accountable for any counterfeit debit agenda accuse if you delay 60 canicule or added from the time your annual is mailed. Visa and MasterCard zero-liability aegis applies to your debit agenda but alone for affairs that do not absorb the use of your PIN (personal identification number).

Additional aegis adjoin counterfeit use of your acclaim or debit cards may be accessible through your homeownerย’s or renterย’s insurance. Check your action or with your abettor for added advice about your coverage.

Also be acquainted that you should acquaintance your agenda issuer by certified letter, acknowledgment cancellation requested, afterwards youย’ve contacted them by buzz to assure your chump rights.

As for which agenda to use for what blazon of purchase, a lot of experts accede that you should use your debit agenda for the aforementioned blazon of purchases youย’d accomplish as if you were using cash.

Therefore, it makes added faculty to use your debit agenda than your acclaim agenda at the grocery abundance or gas base (provided you accept acceptable funds to awning these purchases of course).

Credit Agenda Acquirement Disputes

You should abstain using your debit agenda for any online acquirement or for something which is expensive. Why? The capital acumen is that it is abundant easier to altercation a allegation if you use your acclaim card. Your acclaim agenda aggregation will abolish the allegation until the botheration is resolved.

With your debit agenda you are ashore ambidextrous with the merchant anon to

resolve any problems with a purchase. The merchant enactment will accept a debit terminal. If you accord your agenda to accomplish, www.eppicard.com, the payment, the agenda will be swiped. The moment it is done, an cyberbanking bulletin is beatific to the coffer which checks to see if the chump has that abundant money in his/her account. A acclaim agenda requires the coffer to accomplish a transaction to the merchant enactment (online shop, auberge or wherever you absorb money using your card).

The cardholder has to achieve the bill later.

I love these promotions that banks run that are driven completely by debit cards. Chase has brought back their “Chase Picks up the Tab” promotion. When you use your debit card, you are entered into a sweepstakes. If they draw your number, then that transaction gets paid for by Chase. The maximum is $200 and the minimum is $5. So, this encourages the consumer to use their debit card as much as possible. Of course, this benefits the bank in a few ways.

First, the bank earns the higher transaction fee forced on the retailer to pay.

The rules stipulate that you use the debit card as a credit transaction without using your PIN. If you use your debit card as a debit card with your PIN, it is an online transaction that is debited from your account right away. The bank charges a small fee per transaction. It is minimal.

However, if you use as a credit transaction, it goes through the Visa and MasterCard system as a credit purchase and is an off-line transaction. The bank can then charge interchange fees of say 1.79% (current national average) on the entire purchase. Say you charged $200. As a debit transaction, it might cost the retailer 10 cents. As a credit transaction, the retailer would be forced to pay $4 to the bank (assuming a 2% transaction fee). Therein lies the big difference.

Second, the bank makes big bucks in overdraft fees. The Center for Responsible Lending estimates that banks could earn as much as 38 billion dollars this year in overdraft fees. That is a big business. A large majority of those fees were generated by mistakes from debit cards. Thus, banks offer promotions to consumers that promote heavy use of debit cards. Personally, I think debit cards are a mistake waiting to happen. It is so easy to use that card without really knowing if the accounting on your bank is accurate. You might forget to write things down.

Also, if it is true that banks sometimes “order” when transactions are paid, then they can figure out which transactions to pay first to rack up the most fees. By the way, this was proven to happen in a special report by USA Today.

So, don’t be impressed that Chase is willing to pay out more than $3 million in winnings. They can afford to do so given the crazy amounts of money that they will make.

Being a newbie can be fun it can be exciting and it can be downright dangerous!!

Like a bleeding fish being circled by hungry sharks…..ewww….scary much!!??

Ther are many programs, and help the newbie websites out there that quite frankly makes the mind boggle???

Anyway there is something called a Newbie Blogger, which is fun and easy and FREE….did I mention FREE??

This is where the Newbie Blogger can sit back and contemplate  anything and everything.

Newbie Blogger can write whatever they want without having to be an expert on it.  Newbie Blogger can use it to pour out their feelings about a certain subject…..heartbreak perhaps…….poems……….lost love…..found love.

Newbie Blogger can do whatever Newbie Blogger wants.  Most times Newbie Blogger starts looking outwards from their new blog home and finds other things like Get paid cash programs………but beware Newbie Blogger because danger lies just around the corner ready to pounce on their next Newbie Blogger victim….You have been warned!!!!

I’m sure everyone has their own horror story to tell, not everyone got it right first time.  Nope not even me, in fact I have been burned so many times it’s not funny anymore.  And guess what I’m still getting burnt….though not as much as before….I read the fine print now, the little bitty bits at the bottom of all those websites that says….By subscribing to this program after your 7 day trial (which by the way, didn’t mention anything about this at all on the web page) your credit card will be charged every month for the amount of X amount of dollars being your contribution to remain part of this program.

Don’t let this happen to you Newbie Blogger, always, always read the fine print wherever they keep it and make sure that you know what you are signing up for.

Personally Newbie Blogger, I like to use Paypal whenever I use a free trial of anything, because if you don’t like it you can log into Paypal and cancel the subscription, with a click of the button.

Now Newbie Blogger, when you use your credit card, probably half the time you don’t even know that the trial period is only for 7 days, hell sometimes you wont even know if there even is a trial period, not until you find out that  X amount of dollars has been cahrged to your credit card or money taken out of your Visa Debit.

Not a very good thing to find out if you are cash strapped and then you find out also that you have to call them to cancel it????  What if you live 5 thousand miles away in another country??  Do you think they care?  I don’t think so, because if they did, the trial would have been mentioned on the first page, usually in big letters at the top of the web page.

So Newbie Blogger, this may all sound like doom and gloom, but be assured that there are a lot of excellent programs out there, all you have to do is tread carefully.

So Newbie Blogger, I hope you have enjoyed reading my blog and I wish you Good Luck in what ever tickles your fancy.

Visa’s card brand’s fiscal year ended September 30^th.  Visa reported that US Debit Sales where up 4.8% during the same period last year with an overall increase for the year if 13.2%, accounting for 6 billion debit transactions. “Digital Transactions” November 5, 2005 article entitled “Network Rivalry Sparks 10-year Quadrupling if PIN-Debit Pricing” details this increase using data compiled by the Federal Reserve Bank of Kansas City. One industry leader is quoted, “The only justification is when you have an anti-competitive business model and you can illegally fix prices”.  The question: Is he right? How is it possible for the price of debit to rise even as the use of the product also becomes more widespread? 

The payment card business is a “two-sided” market where consumers are unable to negotiate retail prices based on costs merchants pay to participate in the payment system. In a one-sided market, the consumer would be able to negotiate a lower price for a product based on payment, like a cash discount. Most people think that competition generally reduces prices. With two-sided markets, competition may yield increased costs and here’s why:

Consumers are issued Debit Cards from “issuers” (banks) and so this is the Issuer’s “inventory”. Banks need to make business decisions based on which “network” (STAR, INTERLINK, NYCE etc) they choose. The network is how the inventory gets used. As a result, networks compete for the Banks business, which in this case, means giving the “issue” more money when the card is used. The result is a higher cost to those who use the inventory. In this case the retailer, by paying higher fees to accept the card from the issuer, who is trying to maximize on the value of their inventory. This is something the retailers and banks share in common.

http://www.linkedin.com/in/peterguidi

The kind hearted often don’t suspect that those claiming to serve charities may be serving themselves. Due to their unsuspecting and generous natures they can often fall prey to the less than philanthropic, and less than honest. Be generous, but be alert.

We do not endorse charities, however we do share information upon which the philanthropist and ephilanthropist may make an informed donation.

 It is always advisable to make your donations through your favorite charities approved websites and links. Check with your charities first.

If you are wondering what facecard is, let me tell you that it is the answer for parents to teach their college going children financial responsibility. Facecard is like an ‘allowance’ in which parents or friends can deposit money that a student can use anywhere mastercard is accepted. It is a prepaid card introduced by MetaBank in 2008. The idea behind introducing this card is to establish an alternative to a credit or debit card especially for students.

Parents can load cash to the student facecard account using their mobile phone or computers. They have the authority to monitor where the student is spending the money, which gives them a greater control. Also, if the child shows irresponsible spending behavior, the parents can have a chance to teach their child how to utilize credit in a better way. Moreover, the card has discounts known as prewards for saving on purchases. Prewards work something like this – students receive preward offers in their account, which they can accept or reject at their free will. Suppose the offer suggests a 3$ discount on sandwich. If the sandwich costs $6, only $3 will be deducted when the student uses the card.

Last month, Facecard, in association with Facebook, launched an application, which links both of them. This application, also known as facecard, can be downloaded directly. It promotes money transfers on facecard through facebook. You can transfer money in three ways, either by sending ‘money messages’ or transferring money to the another Facebook user’s wishlist or by gifting it using the ‘thinking of you’ option.

Facecard charges $5 for signing up and $3 as a monthly account maintenance fees. The monthly maintenance fees can be waived off on two occasions – if you load paycheck through direct deposit or spend minimum $100 a month using the facecard. The prewards and other features make facecard a better utility than the free checking account. The facecard seems to have a good future and remarkable uniqueness among other cards.

http://www.free-credit-report-360.com

Amos Tamam is the CEO of Verifone Transportation Systems, Inc. After his immigration into the United States in the early 1980’s, he worked by servicing taxicabs in New York. Now, he is the great innovator of new technologies for the taxi industry.

Amos Tamam is the man who developed the idea of enabling fleet owners to process credit cards simply by using wireless technology. This means that the daily commuter in New York City no longer has to go thumbing through their change purse to pay for cab fare. They can simply hand the driver their debit or credit card, and off they go. In the near future, this technology will be available nationwide.

Cab drivers and commuters alike have Amos Tamam to thank for this wonderful innovation of convenience.

Hello brother and sister
I am sealing international master card at only 10000taka

You will get one card for one card free
Monthly management cost only 40taka
Per transaction fee 120
5 years validity
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Theodore Bikel, who made his film debut in The African Queen, once said “All too often arrogance accompanies strength”. I suppose, he may have been speaking of Humphrey Bogart, but today, couldn’t we apply this to the constant drumbeat announcing the death of ACH Decoupled Debit from the nation’s Financial Institutions and analysts’?

Capital One’s shuttering of its decoupled debit card has raised the eyebrows of industry experts with ISO & Agent declaring; “Decoupled debit cards appear to be fading away”. Meanwhile, Javelin Strategy and Research declares; “Merchant-centric decoupled debit suffers disconnect between the merchants’ interests and their costumers”.

The Mercator Group may have it closer to true when they say “Decoupled debit is all about loyalty.”, and there lies the real disconnect. It’s not between the merchant and consumers interest, it’s between the merchant and financial institutes interest. When it comes to the consumer, we all agree that providing the best value is paramount, but who is best able to provide the consumer with the best value, the retailer at the point of purchase, or the financial institute through a method of payment? In the end, it all boils down to costs, rewards and the giant’s desire to wake. One has to wonder, if the high cost of interchange and financial institutes’ monopolistic practices have created enough discomfort to break the slumber? (http://www.linkedin.com/in/peterguidi)

Miss mom/dad/Fido? Do not go home! I repeat: DO NOT GO HOME!

Got questions? Hit me up in the comments or shoot me an email at melanie@collegecandy.com

I hear college is the perfect time to get a credit card. Should I trade in my debit for credit?
NO. Okay, so maybe the prospect of a limitless spending spree “for emergencies only” is a good idea in theory, but it really isn’t that great. You gotta pay that shiz off sometime, and that “sometime” comes with a giant interest fee.

Hold onto your debit card so you can only spend what you got. If you decide the perks of a credit card (airline miles! woooo!) are too good to pass up, make sure you get the lowest limit card possible and PAY IT OFF every month. Don’t do any of that minimum BS – that will only get you in big-time trouble down the road. Are those new Citizens/front row tickets to another DMB show really worth ruining your credit score? I think not.

I’m homesick. What do I do?
I can’t tell you what to do, but I can tell you what not to do. And that is go home every weekend. DO NOT DO IT. This will only make you miss home more and won’t help you get adjusted to your new lifestyle at all. Keep in touch with your family and friends from back home, but try and branch out of your comfort zone. You went away to school for a reason – to become independent and to experience college life. Try and push yourself to stay on campus for a few weekends in a row and give mom and dad a call every couple days. To tell them how much fun you’re having. Cuz you will be.

Do I really have to read every word of every chapter assigned for class?
No. Don’t waste your time.

What do I wear to class?
There’s a tricky middle ground for lecture halls. If you stumble in every day in your pajama bottoms and a baseball hat pulled over your face, people will notice. I know it’s super exciting to go from wearing a uniform every day to wearing whatever the h you want, but try and show some self control. On the other side of the coin, coming into your eight AM class teetering on sky-high heels, bedecked in a mini dress and perfectly curled hair might come off equally as ridiculous as the girl scrubbing it in the same sweatpants she’s worn all week. Find a middle ground. Jeans and flats are a nice meet-in-the-middle-and-be-comfy-while-also-not-smelling-like-eye-crusties sorta look. Try that.

Welcome back.

It began simply enough.  Our debit card monitoring service detected an abnormal pattern in a sizable number of member debit card transactions.  It was sort of like: a transaction Sunday evening in Colorado Springs, one in Georgia Monday morning and another in Colorado about a half hour later.

Loss prevention specialists saw the pattern and immediately notified local police.  It looked like a data compromise at a local merchant, with likely impact on other financial institution customers. At the same time, our member service teams began notifying members whose card data was exposed to the compromise.  That effort – initially 1500 member accounts – kept service staff on the phone late Friday and all day Saturday of a 3-day weekend.

Then a member called a local TV station to report what they had heard from Ent.  So, for about 48 hours we were the only story on TV; and it played like we were the source of the problem, not helping to solve it.  That generated a lot of member inquiries and confusion about whether or not the compromise was an Ent data breach, and what were we doing about it.

By the end of the week, the merchant acknowledged it was the source of the data capture; police spokesmen revealed that other financial institutions were affected. 

Our member contact service staff worked diligently to help members through their concerns.

Importantly, we recognize the role member vigilance can play in helping minimize unauthorized or fraudulent use of plastic.  In a period when plastic is replacing cash as a means of buying things – whether in person or through the Internet – it is critical that individuals regularly monitor their accounts for unauthorized transactions.  This may sound like a broken record, but the most efficient way I know of to do that is with Online Banking, regularly reviewing your account’s transaction history.

Now it’s your turn:  What do you do to watch for unauthorized transactions on your debit or credit card?

JM

Thursday, October 15, 2009.

Today a couple of coworkers and I traveled to Webster Springs for a grand opening event. It was a wonderful event to help local entrepreneurs with business ideas. After the grand opening we went to a local diner for lunch. It was a small quaint little local diner with great food. Only one problem, they didn’t take debit cards, only cash. In today’s age of debit cards and credit card usage who would have thought, but it was true. Everyone had some cash on them except one of the coworkers I was with.

Without a second thought, I hurriedly offered to take care of it for the person. It wasn’t like they didn’t have the money, unexpectedly they just didn’t have any cash. But it felt good to be able to step up and help a coworker out with no expectation in return. I’m sure they will return the money to me, but it’s okay if they don’t – I just wanted to help a friend out!