Banks may limit debit card purchases

[busted bones]

Scalpers are a fact of life - products in high demand but not easily available elsewhere brings top dollar.

Apple must stop iPad 2 scalpers NOW | Tech Gear News - Betanews

Agree tho - hope they find this guy - and I'll bet they will.

Odd that no one seems to have uploaded cell phone pics of the incident yet.

How will Apple respond? Well, if there's any truth to this one...

Jobs Steve sent three words to confort a China developer that got robbed during WWDC2010|&nbsp Cloned In China

The first article has soo many ways to backfire on Apple. Discriminate against your own customers!?! Should surprise me with the elitist snobs who buy apple products, also with a new law currently being pushed through congress almost all banks are considering limiting purchases on debit cards to $50-$100. So unless you had a CC you would be SOL. The only one that wouldnt backfire is number 5.

 

[Dark Jedi]

Well your average purchase is most over $50 so can't see that bill going through. Plus I know my debit card I can't spend no more than what's in my checking account.

 

[lordofthereef]

also with a new law currently being pushed through congress almost all banks are considering limiting purchases on debit cards to $50-$100.

What on earth is the justification for this? I make 95% of my purchases with a debit card. I am either going to be forced to put a "large" (and it's in quoted because I know families who spend more than that on groceries per week) amount on a credit card or carry cash?

 

[gvillager]

What on earth is the justification for this?

Banks May Limit Debit Card Transaction Size to Fight Fee Limit

 

[lordofthereef]

Banks May Limit Debit Card Transaction Size to Fight Fee Limit

Thanks for this. As I expected, never the consumer in mind. Banks just want to make more money themselves. That said, I do see where they are coming from. If the law passes, there would be huge net losses for these companies. However, if they do make these changes, they stand to profit immensely, even after accounting for the losses resulting from the new law.

 

[log1c]

Banks May Limit Debit Card Transaction Size to Fight Fee Limit

what is this

................=(

 

[mike114]

Thanks for this. As I expected, never the consumer in mind. Banks just want to make more money themselves. That said, I do see where they are coming from. If the law passes, there would be huge net losses for these companies. However, if they do make these changes, they stand to profit immensely, even after accounting for the losses resulting from the new law.

Once again, Congress has it's finger prints all over this. How about we let banks and merchants decide on their own agreements?? What a novel concept. Let the market decide who the winners and losers are. I'm so tired of this gov't over stepping it's limits.

 

[Vihzel]

If I swipe my debit card and run it as credit... does it still count as a debit card transaction? I've always been puzzled by that.

 

[lordofthereef]

FWIW, as far as I am aware, if you have a fancy visa, mastercard, etc. logo on your debit card, they should just be able to run it as credit no matter what. This only effects those who use a bank that doesn't provide a card backed by a major lender, such as the ones I listed.

 

[lordofthereef]

If I swipe my debit card and run it as credit... does it still count as a debit card transaction? I've always been puzzled by that.

No. It's processed as credit. If you notice, there is *generally* a larger delay when it gets run as credit.