I wonder if/how they factor in when US consumers use their debit card but elect to use it as a credit card (meaning the purchase is still being deducted from existing funds in your bank account, it's just being run in the credit system instead of the debit system). I always do, and I know a lot of other people who do too...
I'm guessing you meant to say "use their credit card but elect to use it as a debit card"? Otherwise I'm not sure what you mean. And no, I don't think they do factor it in, for statistics like those.
It's interesting though, how large differences between countries can be in terms of which banking products and services are used. For instance, in Belgium, checks are hardly ever used, compared to the US, but that isn't by any means a European thing, as the French for instance use them all the time as well. And while it's rather self-evident to most people here to pay things like rent and other non-varying recurring bills through automated monthly bank transfers, in other countries that's rarely done.
Fed Proposes 12-Cent Max Fee On Merchant Debit Fees
17/12/2010 06:00:35 PM
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I'm a little iffy on this
17/12/2010 09:08:56 PM
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It may hurt consumers, it will hurt the banks
18/12/2010 06:03:40 AM
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I'd like to use credit cards more without feeling guilty that it's costing the business money. *NM*
20/12/2010 03:26:04 PM
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I'm so glad Visa and Mastercard are so worried about consumers, especially given THEIR tight budgets
17/12/2010 09:14:53 PM
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You do know Barney Frank (Democrat and major liberal and progressive) is against the change
18/12/2010 06:18:37 AM
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I didn't; guess that just means he's wrong. I fail to see how opposing this is progressive at all.
18/12/2010 12:49:36 PM
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It has nothing to do with being progressive, it has everything to do with his banker constituents. *NM*
20/12/2010 01:30:04 PM
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I figured, but, as you say, nothing progressive in that.
20/12/2010 02:44:47 PM
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I am just pointing out that Evil is not unique to a single political party
20/12/2010 06:56:29 PM
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It wouldn't be nearly as effective it it were; it's quite systemic, for a reason.
20/12/2010 07:46:29 PM
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Sounds good to me, but it does seem like a natural monopoly, so that competition idea... eh.
17/12/2010 09:37:20 PM
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Curious.
20/12/2010 07:02:05 PM
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True, that does amount to largely the same thing.
20/12/2010 07:12:27 PM
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I am not sure what the proper amount should be but there does need to be limits
20/12/2010 11:10:18 PM
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