211–220 of 386 posts
Reminder to the people reading this thread and overall comments, that in Europe everyone uses Debit Cards instead of Credit Cards. Credit Card in Europe is very much associated with Debt.
I don't think that's the case.
Earlier quoted context omitted.
Where do you live in Europe? This has simply not been my experience at all in France, Germany, UK, Italy and Spain so far. Online shops most of all don’t take debit at all and bricks and mortar shops will accept credit more often than debit. Again, my experience. And I prefer to pay with debit because I know the shop will pay less fees. I get refused at Starbucks, random shops in train stations, etc.
Unless they have a direct agreement with a credit card company, most payment providers will give one-size-fits-all blended rate about 2.7% per transaction, even if it's debit.
Earlier quoted context omitted.
Do you mean debit cards? With very few exceptions, you can't pay with direct debit in-store, and for online payments at merchants that don't know/trust you yet as a customer it's also pretty uncommon.
What are you talking about? When have you last been to Europe!? Of course you can pay with debit cards all over Europe, every card terminal accepts them! Online the same, you just use your card details like a credit card, the payment system is the same for years now anyway - thats the whole point of initiatives like this digital euro and Wero!
On an article like this, I encourage anyone giving an opinion based on their own experience to say what country it's from. (Or have this in their profile.)
It's the Internet. Just assume they are American unless otherwise specified.
Earlier quoted context omitted.
I am Irish and in my experience most people use debit cards these days. I have a credit card but almost never use it.
I assume this is my “bounded rationality” / “bubble” bias (my impression was based on the people I know and not the full picture) I checked the stats, and about 40% of purchases in Ireland are made by credit card. In the US, it is around 70%.
Earlier quoted context omitted.
we dont in spain, we call it "tarjeta de debito" and "tarjeta de credito" or just "la tarjeta" or the card.
And in Italy many people say Bancomat when they want to pay with the card even if they don't have a card with that circuit anymore.
Earlier quoted context omitted.
As long as you don't go too far below zero, payments will go through. This may differ a bit per country.
This differs a lot by country and customer. For example, in Germany, without a fixed income, you’ll usually not get access to an overdraft loan. In the US, overdraft is generally considered a very bad thing (almost worse than the idea of credit to Germans!) and a failure of the accountholder to “balance their (figurative, today) checkbook”, and the idea of an overdraft limit as a line of credit with a defined interes…
Another difference is that if you know someone's account number, you can send them money but not take any out of their account. I understand it's more or less the other way round in the US.
This sounds more like a cross-EU unified payment system/mechanism rather than a "digital currency" (which already exists).
Reminder to the people reading this thread and overall comments, that in Europe everyone uses Debit Cards instead of Credit Cards. Credit Card in Europe is very much associated with Debt.
Eu: Most of the people I know use debit rather than credit because we can manage our finances.