[LargeFormat] Re: OT: What's an ec card?

[Richard Knoppow]

----- Original Message ----- 
From: "Stuart Phillips" <stuart.phillips@rcn.com>
To: <largeformat@f32.net>
Sent: Friday, June 20, 2003 11:59 AM
Subject: Re: [LargeFormat] Re: OT: What's an ec card?


> And debit cards are being used for smaller and smaller
purchases.
>
> ----- Original Message ----- 
> From: "Wilkes, Don MSER:EX" <Don.Wilkes@gems9.gov.bc.ca>
> To: <largeformat@f32.net>
> Sent: Friday, June 20, 2003 12:42 PM
> Subject: RE: [LargeFormat] Re: OT: What's an ec card?
>
>
> > > It's quite similar to a credit card and is issued by
almost
> > > all European banks for free. There are 1.65 million
shops in
> > > Europa that accept the ec-card but 'only' 2.7 million
world-wide.
> > > Fees are considerably lower that for credit cards.
> >
> > It sounds like what is known in Canada as a "debit
card".  You use it much
> > like a credit card, but the funds come straight out of
your bank account
> and
> > into the merchant's account.
> >
> > \dw


  Beware of debit cards. These are also called fake credit
cards. They are somewhat different than an ATM (automatic
teller machine) card which is what works as above, i.e.,
like a check, the money being transferred directly from your
checking account. Debit cards and ATM cards are often
combined, make sure what kind of transaction you are
getting. Debit cards do NOT have any of the protections of a
true credit card, so be very careful with this kind of
transaction.
---
Richard Knoppow
Los Angeles, CA, USA
dickburk@ix.netcom.com