Greg Rozelle wrote:
> On Mon, 30 Apr 2007 00:16:44 GMT, "Calif Bill"
> <[email protected]> wrote:
>
>
>>"Edward" <[email protected]> wrote in message
>>news:[email protected] groups.com...
>>
>>>I have an ATM card for my checking account. It is not a debit card,
>>>ie, it does not have a visa or mastercard logo, and can only be used
>>>to withdraw cash from an ATM machine. Will I be able to use this ATM
>>>card in Italian ATM machines? Thanks,
>>>
>>>Edward
>>>
>>
>>YOur ATM card is a debit card. The charge is debited from your checking
>>account, not put on a monthly statement. My ATM card does not charge the 3%
>>if used as a debit card, but if used as a charge card, then the 3% is added.
>>Your debit / ATM card may not work as a debit card in a local store, like
>>here in the US. The Europeans have a chip and pin system, same as Canada
>>and you could not use the Debit card at the point of sale station as a debit
>>card, only as a credit card in Western Canada.
>>
>
> If you read his post correctly. He has an atm card without the
> Mastercard or Visa symbol
>
> ====>
> Make sure you tell your bank when you will be going to Italy.
> So your card will have a less chance of being blocked Take you banks
> phone number in case you need to contact him.
>
> $1.00 Euro cost $1.36 plus a foreign transaction fee.
>
>
> Atm locater
>
> http://visa.via.infonow.net/locator/...SearchPage.jsp
>
> Some merchants do accept a visa plus but it is rare. It that case
> you would chose checking or current account and enter
> your pin.
>
>
> http://en.wikipedia.org/wiki/Dynamic...ncy_conversion
>
> If you do find a merchant who accepts the Visa plus card.
> Some say it is cheaper to let merchants do DCC and others say it would
> cost more. Try both ways
>
> Foreign transaction fees will not show on your receipt. Some banks
> don't even post until your statement is printed .
>
> The wiki article needs updated. Mastercard and Visa charge a fee
> even if dcc is used. However, I don't know if Visa plus does.
>
>
> Greg Rozelle
>

Thanks Greg.

On Mon, 30 Apr 2007 06:35:18 -0500, Edward <[email protected]>
wrote:

>Greg Rozelle wrote:
>> On Mon, 30 Apr 2007 00:16:44 GMT, "Calif Bill"
>> <[email protected]> wrote:
>>
>>
>>>"Edward" <[email protected]> wrote in message
>>>news:[email protected] egroups.com...
>>>
>>>>I have an ATM card for my checking account. It is not a debit card,
>>>>ie, it does not have a visa or mastercard logo, and can only be used
>>>>to withdraw cash from an ATM machine. Will I be able to use this ATM
>>>>card in Italian ATM machines? Thanks,
>>>>
>>>>Edward
>>>>
>>>
>>>YOur ATM card is a debit card. The charge is debited from your checking
>>>account, not put on a monthly statement. My ATM card does not charge the 3%
>>>if used as a debit card, but if used as a charge card, then the 3% is added.
>>>Your debit / ATM card may not work as a debit card in a local store, like
>>>here in the US. The Europeans have a chip and pin system, same as Canada
>>>and you could not use the Debit card at the point of sale station as a debit
>>>card, only as a credit card in Western Canada.
>>>
>>
>> If you read his post correctly. He has an atm card without the
>> Mastercard or Visa symbol
>>
>> =====
>>
>> Make sure you tell your bank when you will be going to Italy.
>> So your card will have a less chance of being blocked Take you banks
>> phone number in case you need to contact him.
>>
>> $1.00 Euro cost $1.36 plus a foreign transaction fee.
>>
>>
>> Atm locater
>>
>> http://visa.via.infonow.net/locator/...SearchPage.jsp
>>
>> Some merchants do accept a visa plus but it is rare. It that case
>> you would chose checking or current account and enter
>> your pin.
>>
>>
>> http://en.wikipedia.org/wiki/Dynamic...ncy_conversion
>>
>> If you do find a merchant who accepts the Visa plus card.
>> Some say it is cheaper to let merchants do DCC and others say it would
>> cost more. Try both ways
>>
>> Foreign transaction fees will not show on your receipt. Some banks
>> don't even post until your statement is printed .
>>
>> The wiki article needs updated. Mastercard and Visa charge a fee
>> even if dcc is used. However, I don't know if Visa plus does.
>>
>>
>> Greg Rozelle
>>
>
>Thanks Greg.


Your welcome
A lot of people don't do how are card's works in the U.S.



For others

In the United States.

We have a restricted atm card. This only works at your banks atm
We have an atm card that will work at just atms (However, this card is
becoming obsolete)
We have an atm card that will work at atms and some merchants.

These type cards above can be assigned to a checking or a savings
account. However, some savings account and certain types checking
accounts have a monthly limit of 4 to 6 transactions. These cards
above can only be used by entering a pin.

We also have a debit card with either a MasterCard or Visa symbol
(some people still refer to this as an advanced atm card or a check
card.) This card is usually assigned to a checking account with
unlimited transactions.

These cards can be used as a pin transaction or a signature
transaction. To use it as a signature transaction the place must
accepted MasterCard or Visa. However, some places in the U.S. can now
refuse to process theses types of debit card as a signature
transaction do to the merchant lawsuits. However, most merchants try
to steer you to use the pin but won?t deny the signature transaction.
Banks try to steer you to use it as a signature transaction. Some
banks even have pin transactions fees.

A debit card is not a credit card but can work like one. The money
comes from your checking account.


Greg Rozelle

"Markku Grönroos" <[email protected]> wrote in message
news:[email protected] i.fi...
>
> "Calif Bill" <[email protected]> kirjoitti
> viestissÀ:[email protected] .earthlink.net...
>>
>>
>> It is a Debit card. Does not matter if it has a credit card logo on it.
>> If it had the CC logo, then it is a faux credit card. Can be treated by
>> a merchant as a credit card if the logo is on it, but the money is
>> "Debited" from his bank account at the end of the transaction. An ATM
>> card is really a "DEBIT" card. ATM just means an Automatic Teller
>> Machine and the card is the key to it. If it has a CC logo and is used
>> as a CC, then the CC transaction charges are added to the debit from the
>> bank.
> Pretty unconventional view. Debit cards point to card owner's bank account
> and therefore the signal initiated by an ATM machine must traverse all the
> way to servers of the bank and the online verification takes place
> (balance check). This isn't the case with credit cards. Credit cards don't
> become non-credit cards when used to withdraw money from an ATM machine.

Debit / ATM cards when used as a credit card, debit the bank account, they
do not go on a monthly statement to be paid at the end of the month. A
Credit Card used in an ATM machine, just gets you a short-term loan from the
CC company at an exhorbitant rate.

"Yves Bellefeuille" <[email protected]> wrote in message
news[email protected]...
> On Mon, 30 Apr 2007, Calif Bill wrote:
>
>> An ATM card is really a "DEBIT" card.
>
> The difference between a bank machine card and a debit card is that the
> former is used to get money from a machine, and the latter is used to pay
> for purchases. A card may do both.
>
> --
> Yves Bellefeuille
> <[email protected]>
>

There may be a rare case of some bank issuing an ATM card only that is only
usable at an ATM. But all that I ever dealt with are used for purchases
also. They were originally ATM only cards, but the banks figured out early
on, that you could also eliminate paper checks (checques) via the use of the
card in stores. Most major stores were computerized anyway. NCR
corporation had brought out the point of sale terminals, and the data was
collected in the store computer and was transmitted at night to the main
office. Was not much change to put them online all the time and connect up
to a bank network. NCR also invented the ATM and so there was an incentive
to make them all work together. A charge card, gives you a short term loan
when you purchase something. The money is loaned to you until the due date
of the statement. If you do not pay the staement off completely, the CC
company gets about 18-24% annual interest rate on the money. An ATM / Debit
card takes the money from your bank account the day of the purchase.

"Calif Bill" <[email protected]> kirjoitti
viestissä:[email protected] .earthlink.net...
>
>
> Debit / ATM cards when used as a credit card, debit the bank account, they
> do not go on a monthly statement to be paid at the end of the month. A
> Credit Card used in an ATM machine, just gets you a short-term loan from
> the CC company at an exhorbitant rate.
We all know that by now. And the rate doesn't have to be that high for
credit cards. For instance Finns pay typically something like 2%-2.5%
interest rates (plus a flat fee). For instance EU debit cards typically
(most often) have no margins whatsoever at EU ATMs. It is a law.

"Markku Grönroos" <[email protected]> wrote in message
news:[email protected] .fi...
>
> "Calif Bill" <[email protected]> kirjoitti
> viestissÀ:[email protected]. pas.earthlink.net...
>>
>>
>> Debit / ATM cards when used as a credit card, debit the bank account,
>> they do not go on a monthly statement to be paid at the end of the month.
>> A Credit Card used in an ATM machine, just gets you a short-term loan
>> from the CC company at an exhorbitant rate.
> We all know that by now. And the rate doesn't have to be that high for
> credit cards. For instance Finns pay typically something like 2%-2.5%
> interest rates (plus a flat fee). For instance EU debit cards typically
> (most often) have no margins whatsoever at EU ATMs. It is a law.

2-2.5% is a rather high interest rate if calculated for annual return. I
doubt that you get an unsecured loan at 2-2.5% annual rate. Cheaper than a
home mortgage. US debit cards may pay a fee and a competitors ATM, but
several banks waive them, and other than that there are no charges for debit
card use. Some debit card merchants will charge $0.35-0.50 per transaction.
But these are stated at the terminal.

"Yves Bellefeuille" <[email protected]> wrote in message
news[email protected]...
> On Sun, 29 Apr 2007, Edward wrote:
>
>> Thanks, I didn't realize Plus was associated with Visa. Initially when
>> I asked my bank (Amsouth) if they charged to convert money withdrawn
>> from an ATM in Italy, they told me that Visa charged 3%. When I told
>> her I was using my AmSouth ATM card, not a debit or credit card, she
>> said there would be a $2 charge, but no extra conversion rate. Now that
>> I know Plus is associated with VISA, I wonder if I will be charged an
>> extra 3% if I use an ATM machine in Italy.
>
> Banks use to apply a very favourable exchange rate when using an ATM
> abroad, but my bank no longer does so. You can ask your bank what it does,
> but you might have trouble finding someone who knows the answer.

Or you'll get an answer, but it will be wrong. Most likely you'll get a good
conversion rate plus $2 per withdrawal. My credit union charges nothing for
a foreign (or domestic) withdrawal.

Marianne

"Calif Bill" <[email protected]> kirjoitti
viestissä:[email protected] arthlink.net...
>
> "Markku Grönroos" <[email protected]> wrote in message
> news:[email protected] .fi...
>>
>> "Calif Bill" <[email protected]> kirjoitti
>> viestissä:[email protected] .earthlink.net...
>>>
>>>
>>> Debit / ATM cards when used as a credit card, debit the bank account,
>>> they do not go on a monthly statement to be paid at the end of the
>>> month. A Credit Card used in an ATM machine, just gets you a short-term
>>> loan from the CC company at an exhorbitant rate.
>> We all know that by now. And the rate doesn't have to be that high for
>> credit cards. For instance Finns pay typically something like 2%-2.5%
>> interest rates (plus a flat fee). For instance EU debit cards typically
>> (most often) have no margins whatsoever at EU ATMs. It is a law.
>
> 2-2.5% is a rather high interest rate if calculated for annual return. I

But you don't.


> doubt that you get an unsecured loan at 2-2.5% annual rate. Cheaper than
> a

We are talking about ATM WITHDRAWALS here. You hardly pay credit card bills
by installments for the next 12 months.....

"Markku Grönroos" <[email protected]> wrote in message
news:[email protected] ti.fi...
>
> "Calif Bill" <[email protected]> kirjoitti
> viestissÀ:[email protected] s.earthlink.net...

<snip>

>>
>> 2-2.5% is a rather high interest rate if calculated for annual return. I
>
> But you don't.
>
>
>> doubt that you get an unsecured loan at 2-2.5% annual rate. Cheaper than
>> a
>
> We are talking about ATM WITHDRAWALS here. You hardly pay credit card
> bills by installments for the next 12 months.....

Well, some people do....

Marianne

On Tue, 1 May 2007 07:05:04 -0700, "Mimi" <[email protected]> wrote:

>
>"Markku Grönroos" <[email protected]> wrote in message
>news:[email protected] hti.fi...
>>
>> "Calif Bill" <[email protected]> kirjoitti
>> viestissä:[email protected] arthlink.net...
>
><snip>
>
>>>
>>> 2-2.5% is a rather high interest rate if calculated for annual return. I
>>
>> But you don't.
>>
>>
>>> doubt that you get an unsecured loan at 2-2.5% annual rate. Cheaper than
>>> a
>>
>> We are talking about ATM WITHDRAWALS here. You hardly pay credit card
>> bills by installments for the next 12 months.....
>
>Well, some people do....

I get the impression that many do in UK.
--

Martin

On 29 Apr 2007 13:16:50 -0700, Edward <[email protected]> wrote:

>I have an ATM card for my checking account. It is not a debit card,
>ie, it does not have a visa or mastercard logo, and can only be used
>to withdraw cash from an ATM machine. Will I be able to use this ATM
>card in Italian ATM machines? Thanks,

I have an Italian ATM card which can only be used to withdraw cash or
to pay for purchases using a PIN. I have used it all over the world,
including paying for groceries in an American supermarket. It all
depends on what networks your card is affiliated with. Mine has the
following logos: Maestro, Cirrus, Pagobancomat, POS, Fastpay, and one
that could be "EC" or "EIC". If yours has Cirrus or Maestro
affiliation, it should be usable nearly everywhere, as those are very
widespread networks.
--
Barbara Vaughan
My email address is my first initial followed by my surname at libero dot it
I answer travel questions only in the newsgroup

On Mon, 30 Apr 2007 00:16:44 GMT, "Calif Bill"
<[email protected]> wrote:

> ... The Europeans have a chip and pin system, same as Canada
>and you could not use the Debit card at the point of sale station as a debit
>card, only as a credit card in Western Canada.

Italy doesn't have a chip and PIN system, as yet anyway.

--
Barbara Vaughan
My email address is my first initial followed by my surname at libero dot it
I answer travel questions only in the newsgroup

On Mon, 30 Apr 2007 18:45:59 GMT, "Calif Bill"
<[email protected]> wrote:

>Debit / ATM cards when used as a credit card, debit the bank account, they
>do not go on a monthly statement to be paid at the end of the month. A
>Credit Card used in an ATM machine, just gets you a short-term loan from the
>CC company at an exhorbitant rate.

There are infinite variations of plastic, and by now it's impossible
to keep the terms separate. I have an Italian card that functions as a
Visa card. I get a statement at the end of the month, and the entire
month's worth of purchases are then extracted from my account. What
kind of card is that?

--
Barbara Vaughan
My email address is my first initial followed by my surname at libero dot it
I answer travel questions only in the newsgroup

"B Vaughan" <[email protected]> wrote in message
news:[email protected]...
> On Mon, 30 Apr 2007 18:45:59 GMT, "Calif Bill"
> <[email protected]> wrote:
>
>>Debit / ATM cards when used as a credit card, debit the bank account, they
>>do not go on a monthly statement to be paid at the end of the month. A
>>Credit Card used in an ATM machine, just gets you a short-term loan from
>>the
>>CC company at an exhorbitant rate.
>
> There are infinite variations of plastic, and by now it's impossible
> to keep the terms separate. I have an Italian card that functions as a
> Visa card. I get a statement at the end of the month, and the entire
> month's worth of purchases are then extracted from my account. What
> kind of card is that?
>
> --
> Barbara Vaughan
> My email address is my first initial followed by my surname at libero dot
> it
> I answer travel questions only in the newsgroup

It is a charge card. Just have automatic payment at the end of the month.

On Thu, 03 May 2007 05:25:11 GMT, "Calif Bill"
<[email protected]> wrote:

>
>"B Vaughan" <[email protected]> wrote in message
>news:[email protected].. .
>> On Mon, 30 Apr 2007 18:45:59 GMT, "Calif Bill"
>> <[email protected]> wrote:
>>
>>>Debit / ATM cards when used as a credit card, debit the bank account, they
>>>do not go on a monthly statement to be paid at the end of the month. A
>>>Credit Card used in an ATM machine, just gets you a short-term loan from
>>>the
>>>CC company at an exhorbitant rate.
>>
>> There are infinite variations of plastic, and by now it's impossible
>> to keep the terms separate. I have an Italian card that functions as a
>> Visa card. I get a statement at the end of the month, and the entire
>> month's worth of purchases are then extracted from my account. What
>> kind of card is that?
>>
>> --
>> Barbara Vaughan
>> My email address is my first initial followed by my surname at libero dot
>> it
>> I answer travel questions only in the newsgroup
>
>It is a charge card. Just have automatic payment at the end of the month.

It's not really, because there's no possibility of paying in
installments. It's a type of card very common in Italy (Carta Sì).
>

--
Barbara Vaughan
My email address is my first initial followed by my surname at libero dot it
I answer travel questions only in the newsgroup