341–350 of 386 posts
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Haven't run into that in Europe.
Some Europeans refer to girocards as "debit cards" and everything else incorrectly as "credit cards"
I am hoping this could be utilized by those living in the US who also don't want to use the dollar. The surveillance has grown too large and I don't trust my own money. The IRS requires all transactions sent to them if they total $600 or more on a payment app. Why would I want my money in US dollar when the Euro has vastly more robust protections and less corruption?
I regret to inform you that your tax obligations don't disappear just because they're in a different currency. Worse, because you're a US national, they don't disappear even if you're physically in a different country.
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Same fraud systems monitor credit cards except in the American case you get at worst 1% cash back so 1% off the purchase price of everything and if something does happen, and regardless of protections fraud still occurs, it’s the bank’s money that is gone and not yours. Separately the EU is a large collection of states and each one has its varying levels of participation and sophistication with payment processing. Ap…
Accepting cards from US-controlled schemes is not an issue at all. The geopolitical issue is not having any alternative, and these US schemes being the only way to pay even in domestic transactions. Almost nobody considered this a problem until a few years ago, but the relevant EU stakeholders got pretty rattled recently [1], and my prediction is that this particular bell can't be un-rung. [1] https://www.theguardian…
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Slowly coming to a close in the US also. Some places already of course not accepting Amex, some places not accepting Visa Infinites (CSR, Venture, etc). The future of banking is direct. The days of free rewards at a loss are gone as premium US cards are nearing the $1,000 AF mark for luxury coupons.
Which places are distinguishing high-fee Visa cards?
https://www.redbridgedta.com/us/market-intelligence/the-visa...
I am admittedly having trouble finding where I’ve seen it brought up, but some online forums I lurk on for finance have had stories of people being denied from using specifically Visa Infinite branded credit cards. There’s also been stories of businesses not accepting Chase cards flat out, which I assume is to also curb the higher costs they incur from the premium Chase cards.
Europe has long had laws in place that have hard caps set at 0.3% and 0.2% respectively for credit or debit cards. The US has been milking this with uncapped 3.0%+ fees, which is why the credit cards there drive so much profit - at the expense of every business owner.
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That's interesting argument. Here it is usual to have a daily limit on debit cards. You can not spend more money than that, so a thief can not drain your account. Also many banks give you multiple accounts (you can transfer between them instantly). The debit card is connected to only one of them, so if you keep part of your money on the other account, that couldn't be touched even if the card payment limit has techni…
Multiple accounts (both debit and credit) are normal in the US as well, but I have never heard of a debit account here that has a daily spending limit. Sounds like the US and Euro systems work fine within their own borders. Solutions designed for one make less sense in the context of the other.
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Some Europeans refer to girocards as "debit cards" and everything else incorrectly as "credit cards"
Some Europeans meaning people in Germany? Most people have debit cards from our normal banks here, credit cards are generally associated with companies like Revolut or Klarna, as they push ads for getting credit cards.
I guess, I haven't really kept track, but I've observed this many times from different people.
> credit cards are generally associated with companies like Revolut
That's surprising. Revolut only offers credit cards in a couple of countries, and has only done so for a rather short period of time.
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I would argue the opposite, makes no sense to pay right away when you can pay with no interest 15 days later on average. In an inflationary fiat currency system it's always better to defer payment assuming you can manage your cashflow and you're living hand to mouth
> makes no sense to pay right away when you can pay with no interest 15 days later on average. Why in a pray tell would you favor late payment? Why would I create myself a chore for an end of a month if I can just pop a card, pay and see the transaction in e-banking right away? If it is auto-charge by the end of month, why not charge it right away? You are gaining absolutely nothing. > In an inflationary fiat currenc…
Do they not have direct debit where you live?
>If it is auto-charge by the end of month, why not charge it right away?
Because there's no way I'm going to keep anywhere close to that much money on my debit card? Because the credit card won't get randomly locked while I'm trying to pay a 40k euro hotel room bill in Asia? Or if it does, I can switch to another credit card or deal with reasonable customer service.
If you're only making small payments, of course it doesn't matter. If you're regularly spending significant amounts of money, doing so with a debit card will be a huge pain in the ass and an unnecessary risk.
I hope that they don't fall into the same trap that a lot of EU projects fall in to: only solving one problem. My VISA card is not only a convenient payment method, it also forces ATM operators to give me cash without any extra fees. In Germany the EC card used to be THE way of paying with a card but you had to go to the ATMs of your bank, otherwise there would be sometimes pretty ridiculous fees. The kicker was that…
Try buying something with your card that VISA or the US government doesn’t like.