Hot answers tagged

52

You can simply use them to pay in a supermarket or anywhere else. Just give them the card and say ‘put 1.23$ on this one please, and the rest I pay cash‘ or whatever. They might be annoyed when you have really many, but you can use up one every time you shop easily. For some cards, you do not even have to know the remaining amount, just say use it up. Note ...


38

"electronic use only" cards can only be used by vendors that can instantly verify and authorize the purchase, which is most vendors these days, but there will be some exceptions: vendors that use old "batch" style processing vendors that "copy" the embossed numbers using carbon slips (very rare now) offline purchases (e.g. on a plane) The problem is you ...


30

I had a good half dozen of these with various amounts, none of them quite enough to make a purchase anywhere and, like you, I didn't want them to go to waste. If there is at least $1 on the card, you can use it to buy Amazon eGift cards, which is what I did. It's not as nice having actual cash, but for me it was the next best thing. You can also use them ...


15

For the most part, they're pretty similar. I have never noticed any differences related to MC vs. VISA, most differences are from the banks offering the cards. It does seem that there is a greater acceptance rate for VISA cards internationally. I have also heard that the MC warranty program (where they extend the manufacturers' warranty on anything ...


14

Yes, you can usually deposit/pay money into a credit card account in advance. They'll use it to pay any open debt; if there's money left over they'll carry it as a credit towards future changes. ("Usually" added in response to comments that some folks have been unable to do this -- though whether that was really policy or just limitation if web interface ...


12

I can't say for any country, but at least for several banks in Russia, the difference is how transactions are processed if they are nominated in different currency than the card [and both are different from the local currency of your bank's country]. E.g. when you pay for something in GBP (and the shop charges in GBP), while your card is in CHF. For ...


10

On Indian cards Verified by visa comes only for Indian sites as RBI has mandated by regulation. However foreign sites need not be governed by Indian laws. Depending on the site you can request for cancellation and get a refund. If you dispute with your card issuer, it would be very difficult to explain what you have said. Edits: Can this be ...


10

Yes, and Amazon advertises this feature.


9

It is legal and is a common practice. Hotels take your credit/debit card information in case there are additional charges (incidentals) billed to you during your stay, or to ensure you pay if you didn't pre-pay. Every hotel does it. If they just swiped it - the information is in the computer, but they still keep it. You might see a pending charge from the ...


9

In the United States there are 3 main types of cards. ATM cards. They are used at cash machines, and are linked to your bank account. The only requirement is a bank account. There is no credit check needed. Debit cards. They can be used at cash machines. These are linked to a bank account. No credit check is needed. The big difference is that they carry the ...


8

You can read about it more here. (Summary: Verified by Visa and SecureSuite.net is legit.) That said, I wouldn't share my ATM PIN online regardless.


8

The short answer is that it probably doesn't matter if you select Visa or MasterCard. Both offer contactless payments (and in Europe, too) and are widely accepted. The longer answer is that Visa and MasterCard are separate payment networks. While most merchants that accept one will accept both, that is not always the case, and there are some differences, ...


8

PC MasterCard recently added this as a new feature to their online system. It lets you see "Pending Authorizations" for your card when you log in. Their email said: Along with your purchases, you'll see a list of every transaction that's been approved, but not yet applied to your balance. You'll be able to identify these with the word “Pending” in the ...


7

Mastercard and Visa are networks, your issuer is a bank who is participating in the network. It is definitely advisable to have a couple of cards from different issuers, but having different networks is not as critical. The reason I think it is useful to have cards from different issuers is that if a system of one issuer is down - you don't get stuck ...


7

It is the people who you bought the ticket from. Blocking is frequently done by hotels, gas stations, or rental car companies. Also, for anything where the credit card might be used to cover any damages or charges you might incur later as part of the transaction. In essence, they are reserving part of your credit limit, ostensibly to cover charges they ...


6

If it is anything like here in the United States there is no real difference between the two from a consumer perspective (except at most whether your bank issues Visa or Mastercard as a debit card, although Visa debit is the most common). When it comes to using them abroad they both act the same. As long as there is a Visa logo (if you've chosen Visa/Visa ...


6

Disclaimer: Answer based on a comment conversation In the context of consulting firms, non-solicitation clauses and MOUs are generally done to protect the firms' assets (read: its workers), and are in place to prevent clients from poaching workers from the consulting firms. They do not prohibit a client from seeking the services of a competitor. Since that'...


6

AIUI this is not terribly abnormal. There are authorisations (sometimes reffered to as "pending charges" or "holds") and actual charges. An authorisation reserves money but doesn't actually take it. Normally what happens when you pay by card is that the merchant gets an authorisation immediately. Then some time later the authorisation is converted into an ...


6

A lease is stronger than a normal contract as it is an interest in land. The lease provides the tenant with an exclusive right over that land in exchange for the monthly rent. The landlord can sue the tenant for the rent regardless of whether the tenant is able to use the apartment or not. After receiving a judgment from the court that the tenant has to ...


5

From a technical POV, there are two main versions of contactless payment cards - For MasterCard there is PayPass M/Chip and PayPass MagStripe. I believe the Mag Stripe version may just be used in the US, where there are fewer chip cards, while M/Chip is used on cards which have EMV chips. (ref) I believe the current versions of PayPass M/Chip do perform ...


5

They're not. Basically, other than the data being transmitted using the RFID chip, the protection is exactly the same as the one you have on your magnetic strip: NONE. But, you tagged this as "chip-card". Don't confuse, a chip-card is something different. Chip-cards are used in Europe and in many other places where privacy and security are of a concern for ...


5

The request to block the money is made by the Party who sells the product. Based on this request the Bank blocks the funds. Subsequently the Party who sold the product makes a charge against this block. Just to give an easy example; You Check into a Hotel, as the total amount is not know, the Hotel first sends a Block request to block some funds. The Bank ...


5

It is not true. They don't chose rates, the rates are dependent on the contracts between the Visa/Mastercard and the members (banks issuing and clearing the cards and transactions). There may in fact be two conversions: one is from the original currency to USD/EUR, and the other from the USD/EUR to the target (your home) currency. If your home currency is ...


5

Payment processors get a fee when you make a payment through their system. So by encouraging you to use their cards more, they make more money. In the specific case of contactless cards, they see an opportunity to grow their market by displacing cash payments. So they're advertising it heavily to help that along.


5

Spend them at the gas pump. Just run the pump until it stops, then repeat with next card. That's always worked for me


5

In general, payments will be in the currency denominated by the seller. Your bank will automatically convert a balance of INR from your card to whichever currency you chose to pay in (be it USD or EUR) based on the bank's current exchange rate of that currency pair and some currency exchange fees will be charged on top. Fees involved is something only your ...


5

This sounds like a scam to me. The first 6 digits of a Visa card number identify the issuing bank, who they can now call, and armed with the other identifying information you have given them, can try to social engineer into transferring money out of your accounts. You should look in a reputable Canadian phone directory for the main office number for the ...


4

On payWave transactions, the $100 limit applies per transaction, and your daily withdrawal limit doesn't usually apply - it's only for SAV/CHQ transactions and ATM withdrawals, and payWave transactions are counted as Credit transactions. So really, anything in your account is up for grabs. There are a couple of options as I see it. You should see if there's ...


4

There are, in fact, two balances kept for your account by most banks that have to comply with common convenience banking laws. The first is your actual balance; it is simply the sum total of all deposits and withdrawals that have cleared the account; that is, both your bank and the bank from which the deposit came or to which the payment will go have ...


4

I don't think it's going to make much of a difference - both types of cards work fine in the US and EU IME.


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