That's how we all did it 20 years ago.
It’s a bit more complicated, but you can thank the financial regs passed by our Democrat Overlords for this.
Do you get all of your financial news from the “gal at the car wash?”
Bill limiting debit card fees goes to Assembly - August 5, 2010
The CC company can pull the access to the system if you violate this rule.
CC companies Charge $0.30 per transaction plus from 2.0% to 5%.
This rates very depending on the company and also the type of card. Reward/ Airline miles I have to pay a higher percentage than a debit card. NO THE REWARDS AMD AIRLINE MILES ARE NOT FREE.
Myself and many SB owner will not take American Express as the gorge us on the fees.
What the Financial Reform Bill did was allow merchants to charge a surcharge for smaller transactions and this company is doing this.
The old Visa/MC rules didn't allow surcharging on debit or credit cards but congress just changed this. Merchants can also set a minimum now where before they couldn't.
Visa Check Card
WTH is wrong with cash? It’s safe, universal, and ANONYMOUS. Meaning, nobody can track your individual purchases because there’s no name attached to your cash, except for the one stated under the picture of the dead white guy on the bill itself.
I always tell them credit vs, debit when I use mine and I rarely ever carry cash. I’ve never had my account compromised either (yet).
I also never do business with banks, I’ve been a member of a credit union ever since I started working in 1984 (I switched from one to another a couple years ago).
The way things are going, we will soon all be trading with chickens, pigs and other livestock.
Stock up on all the toilet paper you can get your hands on..... it will be worth fortunes. ;>)
Be careful about using your PIN # for debit card transactions. If you use the PIN you don’t have the same consumer protections like being able to do a chargeback, or fraud insurance. If you use it as a credit card then the money still comes out of the same account, but you have all the same protections as if you had used a regular credit card. You just can’t get cash back if you don’t use your PIN.
There will be changes in Overdraft charges beginning 8/15, at your regular bank. These changes will affect Debit Cards and ATMs. Unless you contact your bank and tell them you still want the bank to cover any shortages in your account, as they do now, and charge you an Overdraft Fee, they will start denying any purchases you make with a Debit Card, or any withdrawal from an ATM, unless you have the available funds in your account.
Note that these changes do not cover checks drawn on insufficient funds, nor does it cover Automatic Payments you may have set up with your bank.
My bank has always charged me 50 cents per ATM debit card transaction. I have no problem with it. Been going on for at least 10 years.
The plain ATM card is so much safer than a visa/mc debit card, that it’s quite worth it.
A visa/mc debit card can be used without a pin by a crook, and there goes your own money.
If I need a credit card for a transaction, I use one. My ATM card works 99% of the time, and the PIN makes it more secure.
I’d never have or use a visa/mc debit card.
Most debit cards function as a credit card as well. Just choose the “credit” option with the same card ... money comes out of the account the same way, just changes the technicalities with how the business is paid.
SnakeDoc
There seem to be a lot of comments on this thread that are not answering your question:
The answer is NO. Banks are not charging consumers 50 cents (or any other amount) when you use your debit card.