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dthomsen8
08-18-2007, 09:06 AM
Why am I frequently asked, "Debit or Credit?" Apparently the card readers cannot tell, so the consumer must make the choice instead. I am puzzled about why this is the case. Does anyone here know why?

On the other hand, asking for my zip code is a useful protection, especially at the gas pump, and I don't mind doing that.

ktinkel
08-18-2007, 09:26 AM
Why am I frequently asked, "Debit or Credit?" Apparently the card readers cannot tell, so the consumer must make the choice instead. I am puzzled about why this is the case. Does anyone here know why?The times I have been asked, they had to do something in the cash register depending on if a PIN was required (for debit).

Not sure why they cannot tell. They know everything else! <g>

ElyseC
08-18-2007, 09:30 AM
Why am I frequently asked, "Debit or Credit?" Apparently the card readers cannot tell, so the consumer must make the choice instead. I am puzzled about why this is the case. Does anyone here know why?The debit cards issued by banks around here can be used either as credit or debit cards. With the first you sign your name and can't "charge" extra to get cash back; with the second you plug in your PIN number and often can get cash out in the same transaction. I'd guess cards aren't encoded to convey whether they're debit or credit, just the name of the issuing financial institution, account number, expiry date, and name of the cardholder.

dthomsen8
08-18-2007, 09:38 AM
The debit cards issued by banks around here can be used either as credit or debit cards. With the first you sign your name and can't "charge" extra to get cash back; with the second you plug in your PIN number and often can get cash out in the same transaction. I'd guess cards aren't encoded to convey whether they're debit or credit, just the name of the issuing financial institution, account number, expiry date, and name of the cardholder.

Well, that partially explains it. If a card could be either, then the user must say which they expect to use. For myself, I only have some credit cards and just one ATM card, and no debit cards at all.

ElyseC
08-18-2007, 10:04 AM
Well, that partially explains it. If a card could be either, then the user must say which they expect to use. For myself, I only have some credit cards and just one ATM card, and no debit cards at all.Yeah, I don't think any banks here issue ATM-only cards any longer, all are debit with VISA affiliation, so they can be used as either debit or credit for the businesses whose machines don't do debit. Sure saves on check writing. Which reminds me...

Seems when you order checks these days you get precious few deposit slips in the books. Since so many transactions are being done without checkwriting these days, I suspect the check printing companies are pushing you toward ordering separate books of just deposit slips. I would rather use the preprinted deposit slips, but put up with using the blanks that banks have when you go inside. I grab a handful whenver I go in and use them even when depositing at the ATM. I guess you're, technically, not supposed to use them for ATM deposits, but I've been doing it right along and our bank has never complained.

iamback
08-18-2007, 02:04 PM
Yeah, I don't think any banks here issue ATM-only cards any longer, all are debit with VISA affiliation, so they can be used as either debit or credit for the businesses whose machines don't do debit. Sure saves on check writing. Which reminds me...

Seems when you order checks these days you get precious few deposit slips in the books.What on earth is a deposit slip?

annc
08-18-2007, 02:45 PM
Why am I frequently asked, "Debit or Credit?" Apparently the card readers cannot tell, so the consumer must make the choice instead.Here, we're asked 'Cheque, savings or credit?' because the credit cards can be programmed to access all three.

dthomsen8
08-18-2007, 06:45 PM
...
Seems when you order checks these days you get precious few deposit slips in the books. Since so many transactions are being done without checkwriting these days, I suspect the check printing companies are pushing you toward ordering separate books of just deposit slips. I would rather use the preprinted deposit slips, but put up with using the blanks that banks have when you go inside. ...
My bank does provide separate books of just deposit slips, which I recently ordered and received, no charge.

dthomsen8
08-18-2007, 06:48 PM
What on earth is a deposit slip?A deposit slip identifies you and your account with the bank, and lists the cash and checks you are depositing into your checking or savings account. If you handed the bank teller an endorsed check, how would the teller know how to process it, without a deposit slip to say what you wanted done? Some deposit slips come preprinted with your preprinted checks, but banks also provide blank deposit slips for your to fill out completely, including their rather long, these days, account numbers.

ElyseC
08-18-2007, 09:39 PM
What on earth is a deposit slip?What dthomsen8 said. :)

ElyseC
08-18-2007, 09:44 PM
My bank does provide separate books of just deposit slips, which I recently ordered and received, no charge.I'll ask again about getting the preprinted ones for free, but last time I inquired (three years ago) there was a charge. The commercial check design/printing companies definitely charge for them.

Now, it may be that our bank will provide free deposit slip books if we're ordering our checks through them, but I found a check printer with a design we like and who prints on recycled paper, which I think is rather cool. Their prices beat the bank's, too, (or did when I checked three years ago) so we go where our pocketbook is happier.

Hm...that reminds me that it's about time to reorder checks...

ElyseC
08-18-2007, 09:47 PM
Here, we're asked 'Cheque, savings or credit?' because the credit cards can be programmed to access all three.Using my card at the bank ATM I can access either savings or checking accounts, but in stores the card processing machines only know credit or debit. Hm...I can see where it could be handy to pull from savings for some purchases. That will probably become possible here at some point.

annc
08-18-2007, 10:18 PM
Hm...that reminds me that it's about time to reorder checks...Do you write many? I've come to the conclusion that the current cheque books I have for both business and private use will be my last unless I change banks. Both books are at over four years old.

annc
08-18-2007, 10:22 PM
Using my card at the bank ATM I can access either savings or checking accounts, but in stores the card processing machines only know credit or debit. Hm...I can see where it could be handy to pull from savings for some purchases. That will probably become possible here at some point.Well, obviously the ATMs only recognise debits (cheque or savings) for withdrawals. :)

But the machines at retail outlets here all recognise cheque, savings and credit.

ElyseC
08-18-2007, 10:40 PM
Do you write many? I've come to the conclusion that the current cheque books I have for both business and private use will be my last unless I change banks. Both books are at over four years old.Not many, but there are a lot of tiny businesses around here that only take checks or cash. School districts also take only checks or cash (for book rental, sports/extracurricular fees, meal accounts). Well, maybe the largest districts are set up for credit/debit cards, but the districts I'm familiar with don't take them.

We wrote more checks when we first moved here, but very soon virtually all our monthly bills could be paid electronically, sans checks. This check order we're running low on was placed about 2.5 years ago, so it's lasted us a lot longer than any previous.

iamback
08-19-2007, 12:14 PM
A deposit slip identifies you and your account with the bank, and lists the cash and checks you are depositing into your checking or savings account. If you handed the bank teller an endorsed check, how would the teller know how to process it, without a deposit slip to say what you wanted done? Some deposit slips come preprinted with your preprinted checks, but banks also provide blank deposit slips for your to fill out completely, including their rather long, these days, account numbers.
Oh boy, different worlds. First of all, of course, we do not deposit checks normally (except those from the US, and it costs, because processing them is a laborious manual process). To identify yourself at the bank (if you even need to go there any more), you use your bank pass, possibly supplemented with legal identification such as passport, identity card or driving license. And to tell what needs to be done, well, you just tell the teller. ;) Depositing cash is also rare, but possible (no laborious manual process with signatures and counter signatures needed): the teller will accept your cash, slide your bank card through the machine, type something on hir terminal, and print out a little piece of paper for you as proof that you paid the money into your account. So clearly, I don't really understand the necessity of a "slip" to tell anyone anything at a bank.

It's years (at least well over a year) ago since I've been in any bank office.

annc
08-19-2007, 01:01 PM
Not many, but there are a lot of tiny businesses around here that only take checks or cash. School districts also take only checks or cash (for book rental, sports/extracurricular fees, meal accounts). Well, maybe the largest districts are set up for credit/debit cards, but the districts I'm familiar with don't take them.You'd think the fees on bad cheques would more than outweigh the cost of running a credit card facility.

ElyseC
08-19-2007, 04:16 PM
Different worlds indeed. Our systems might be more alike had we many separate currencies and banking systems to handle on a daily basis. I'm sure financial institutions there are much happier now that most countries are using a single currency.

Here we rarely see money from other countries unless it's the occasional Canadian coin being mistaken for one of ours (similar size and color).

I've yet to see anything of a Euro -- have no idea what the paper or coinage looks like. Hm...guess I could google up some images, come to think of it...

ElyseC
08-19-2007, 04:26 PM
You'd think the fees on bad cheques would more than outweigh the cost of running a credit card facility.Around here, the rural Midwest, everyone knows everyone and bad checks are rare -- there's always a way to track someone down and word will get around if you're passing bad checks, trust me!

Heck, here you can write checks to pay in restaurants and you can pump your gas/petrol without having to pay first. Amazing, but true. Yes, there are some drive-offs (pump then take off without paying), but very few and never anyone who lives anywhere near here or they'd be instantly recognized and reported.

Michael Rowley
08-19-2007, 04:47 PM
Ann:

Do you write many? I've come to the conclusion that the current cheque books I have for both business and private use will be my last unless I change banks.

In Germany they've had credit transfer for everyman for years and years, but here in the UK it's only available to businesses and people that have on-line banking. There's a different banking system in practically any country, but I'd expect that they're rather advanced in Australia.

Steve Rindsberg
08-19-2007, 07:53 PM
The necessity? Simple. I receive checks by mail. I often make deposits by mail. The deposit slip tells the bank that the check is to be deposited to my account (and which account it should to into, as I have several, though alas, none is worth ransacking). If you'd like to try a mail deposit for fun, I'll be happy to send you a few of my deposit slips. <g>

Richard Waller
08-20-2007, 12:17 AM
Ann:
in the UK it's only available to businesses and people that have on-line banking. This does surprise me. I am in the UK and I have been transfering money to all sorts of people quoting the bank sort code and account number.

iamback
08-20-2007, 02:10 AM
Different worlds indeed. Our systems might be more alike had we many separate currencies and banking systems to handle on a daily basis. I'm sure financial institutions there are much happier now that most countries are using a single currency.Nothing to do with single currency, but with the fact that the large majority of banks in Europe use electronic transfer, and have started to do so way back in the 1950s. That system was soon cross-border as well.

See the section "The future of cheques (http://en.wikipedia.org/wiki/Cheque#The_future_of_cheques)" on Wikipedia which has an excellent explanation of that.

Michael Rowley
08-20-2007, 07:00 AM
Richard:

I am in the UK and I have been transfering money to all sorts of people quoting the bank sort code and account number

So have I, but the banks treat the payments as one-off standing orders.

Richard Waller
08-22-2007, 01:23 AM
Ah. That explains it. Transfers to a normal person are labled on my statement as OTR Online Banking and they do take a day or three to be actioned. Whereas paying to a company is labled POS Point Of Sale and credited at once. I don't use cheques at all these days.

dthomsen8
08-22-2007, 05:21 AM
... I don't use cheques at all these days. I rarely use a check, but my wife uses a lot of them, because so far she won't use electronic payments.

I use Quicken for most payments, but the PA Department of Motor Vehicles requires sending in a signed form with a check to renew a motor vehicle registration, and to renew a driver license. I don't know any way to avoid either of those transactions with a check, other than to pay the American Automobile Association to do it, which can be done by credit or debit card or even cash, but that requires me to go there in person, and pay a fee to them.

Richard Waller
08-23-2007, 12:09 AM
IPA Department of Motor Vehicles. We can get a new UK tax disk each year on the DVLA website, very efficient. And they have access to a database so they can check that I have the vehicle fitness MOT and valid insurance. Now tell me, if they can do this at DVLA why cannot the police just make a quick phone call and conviscate any vehicle they find that has no Tax, MOT, or Insurance. That would solve our local traffic problem very quickly.