debit card rant  - Page 1
Forum section: electronics / general

author: siliconmix
author_rank: Frequent Contributor
timestamp: February 22, 2012, 10:16:35 pm
content: it makes my blood curdle.you buy something online or instore and the money is debited from your account immediately.when you return that purchase (faulty or dangerous).it takes 3 to 5 days for the money to be returned to your account.what the hell is that all about ?

author: PeterG
author_rank: Frequent Contributor
timestamp: February 22, 2012, 10:42:56 pm
content: 3 to 5 days? thats fast by Australian standards, it can take over a week here.Regards

author: ejeffrey
author_rank: Super Contributor
timestamp: February 22, 2012, 11:24:39 pm
content: Seriously? A 3-5 day wait on what is hopefully a rare procedure is what makes "your blood curdle"? Save the outrage for something that matters. Maybe you should consider buying fewer dodgy products.

author: 8086
author_rank: Super Contributor
timestamp: February 22, 2012, 11:26:59 pm
content: First world problems much

author: nanofrog
author_rank: Super Contributor
timestamp: February 22, 2012, 11:31:33 pm
content: I've had refunds take longer than that as well (~ 14 business days from the vendor posting the refund).Just be glad you didn't have to wait on the vendor dragging their heels to even post the refund (e.g. they wait 30 days before they even post the refund).Not necessarily just dodgy vendors that do this BTW (e.g. they may have been burnt with a previous transaction and instituted a date based policy to be sure initial payment has cleared before issuing a refund rather than checking their account transactions <saves labor>).

author: Bored@Work
author_rank: Super Contributor
timestamp: February 22, 2012, 11:43:09 pm
content: The solution for in-store purchases is obvious, use cash. And exercise greater care when buying online.

author: benemorius
author_rank: Regular Contributor
timestamp: February 23, 2012, 05:16:55 am
content: I'm amazed at all the posts advocating apathy. Generation after generation of people not caring is what got us in to this mess in the first place. There may well be a multitude of greater evils in the world than this, but if this is what it takes for someone to start to notice how messed up the world is, well, so be it.

author: PeterG
author_rank: Frequent Contributor
timestamp: February 23, 2012, 05:33:22 am
content: Quote from: benemorius on February 23, 2012, 05:16:55 amI agree, there is a generation of people who both 'Don't care' and also believe it is 'Someone Elses Fault'. The number of people who seem to live there lives in a Bubble totally unaware of the outside world amazes me.There really needs to be a BIG wakeup call.Regards

author: 8086
author_rank: Super Contributor
timestamp: February 23, 2012, 06:03:09 am
content: Or possibly there's just many much more important things to care about. Yeah, I'll go with that.It's not a mess, it's a minor inconvenience in our otherwise rather comfortable lives.

author: ciccio
author_rank: Frequent Contributor
timestamp: February 23, 2012, 07:57:06 am
content: Quote from: BoredAtWork on February 22, 2012, 11:43:09 pmThe new "technical" Italian Government has made illegal:1) paying more than 1000 Euros with cash,2) draw more than 1000 Euros in cash from your bank account in a single operation, and the cashier is obliged to signal to the authorities any suspect operation (such as repeated draws of large sums).3) deposit more than 1000 Euros cash in your account in a single operation. You are obliged to file and sign a declaration where you explain why you have so much cash..This makes using cash really complicated.

author: G7PSK
author_rank: Super Contributor
timestamp: February 23, 2012, 08:51:58 am
content: It actually works both ways the supplier has to wait for their money as well, the money leaves your account almost instantly but the seller will have to wait up to 14 days before they can claim it from the credit card company then if a refund is required it takes several days for the money to come back. I found out about the time delay for sellers when I got concerned about a payment I made to supplier who told me after I had made payment that there would be a months delay on delivery after initially telling me it would be next day dispatch, when I said I wanted a refund they refused so I contacted Barclay card who told me that although the money had left my account the seller had not got the money and could not claim it for the next 14 days.

author: david77
author_rank: Frequent Contributor
timestamp: February 23, 2012, 09:01:45 am
content: I don't know about credit cards but the payment with your debit card (EC-Card) is usually pretty fast.The seller usually gets the money within two working days.

author: ejeffrey
author_rank: Super Contributor
timestamp: February 23, 2012, 09:02:31 am
content: Quote from: benemorius on February 23, 2012, 05:16:55 amI don't advocate apathy in any sense. I just don't accept that waiting 3-5 days is evidence of "how messed up the world is." This isn't a minor evil, this is a minor inconvenience, and people should learn to tell the difference.

author: Mint.
author_rank: Frequent Contributor
timestamp: February 23, 2012, 09:29:30 am
content: Quote from: ciccio on February 23, 2012, 07:57:06 amThats ridiculous that is limiting your rights by sooooooooooo much!

author: G7PSK
author_rank: Super Contributor
timestamp: February 23, 2012, 10:00:47 am
content: The money is taken out of your account instantly it is then used for a day or two by the bank on the overnight money market before it resurfaces, I used to have two accounts at the same bank one business and the other personal when I transferred money from the business to private the money would leave the account as I watched but would not appear in my private account for up to a week, on one occasion I had a go at the bank as money from my deposit account took 14 days to appear in the checking account meanwhile I got charges imposed for being overdrawn. They refunded the charges but they crept back again next month and for the following three months. Ended up changing banks.

author: johnboxall
author_rank: Unknown
timestamp: February 23, 2012, 10:07:40 am
content: Quote from: Mint. on February 23, 2012, 09:29:30 amNo it isn't - you can still withdraw or deposit as much cash as you like, you just need to tell the Government about it. If you're not doing anything wrong you don't have anything to worry about.Furthermore, we have the same thing here but for $10k cash movements.

author: G7PSK
author_rank: Super Contributor
timestamp: February 23, 2012, 10:28:58 am
content: Quote from: tronixstuff on February 23, 2012, 10:07:40 amThere is automatic reporting in the UK for large or regular deposits of cash in order to pick up money laundering, Further there is a limit on how large a sum you can spend applied by many companies, this is due to the requirement to register for such payments and they don't wish to do so as it costs, try and buy a new car or a house with cash and it is quite likely you will get turned away.

author: siliconmix
author_rank: Frequent Contributor
timestamp: February 23, 2012, 10:54:36 am
content: Quote from: BoredAtWork on February 22, 2012, 11:43:09 pmyep .cash from now on sometimes inconvenient that it is.imagine all the paybacks that say tesco have in one week .are they getting the interest ? on that cash.where is the money between computers? perhaps i'll walk into tesco and pick up a tv off the shelf go past the security guard and say "i'll pay you in 3 to 5 days" lol

author: Bored@Work
author_rank: Super Contributor
timestamp: February 23, 2012, 11:58:09 am
content: When you grow up, and I guess that is the issue here, you learn that you can't fix everything in the world that you perceive as being wrong. You need to pick your issues wisely.Three to five days delay is apparently an issue few consider to be important. But if you feel it is important, then by all means, go for it. Contact a lawyer, lobby for legislation, picket the bank, sue them. See you in five to ten years.By the way, I don't see 1000 Euro as such a terrible limit. You make it sound as if you regularly spend larger sums than 1000 Euro, and that you regularly need to return items. Regarding the first - spending large sums - you must be fucking rich then, so why do you care about the three to five days? And if you do, why don't you tell your bank? They tend to listen to rich customers. Regarding the second one, start exercising greater care when buying. That will reduce the number of returns you need to do. You should get rid of that habit of buying first, thinking later. That is how rich become poor.

author: siliconmix
author_rank: Frequent Contributor
timestamp: February 23, 2012, 12:15:36 pm
content: what are you on about "grow up" .dont be cheeky now .it's not nice.i dont know what your on about 1000 euro's limit .did i mention 1000 euro's.as for my buying choice .it came highly recommended.you saying you've bought something and never had to bring it back.you make yourself out to be so perfect "boredatwork" .that usually means an inadequacy .

author: Shale
author_rank: Contributor
timestamp: February 23, 2012, 02:49:11 pm
content: Here is what I think happens. Big companies do not like to give refunds or pay their bills and the ones I have felt with and worked with think like this. If they can hold your money for that much longer, it can sit in the bank or where ever and draw interest. Now is $3 going to make a lot of interest? no, but if you have 10,000 people each having $3 thats 30,000 dollars sitting there drawing interest. Start making it more than $3 and that starts to add up. And yes, your $3 may only draw interest for 3-7 days, but they are doing this to every return, so it is a constant small cash flow to them.I used to work for a company who did something similar. They would not pay their bill to their vendors until the vendors cut off their credit line. Once the credit line was cut off, the company waited until they had not choice but to order from the vendor again, so they then paid their bill, had an open credit line, and the cycle started again. Made it horrible for getting parts for fix things. But the money got to sit in their bank drawing interest.

author: Deepak
author_rank: Regular Contributor
timestamp: February 23, 2012, 06:21:01 pm
content: I'm still baffled as to why people use debit cards rather than credit cards.

author: ciccio
author_rank: Frequent Contributor
timestamp: February 23, 2012, 08:35:11 pm
content: Quote from: BoredAtWork on February 23, 2012, 11:58:09 amIt was me, not the original poster, that wrote about this 1000 Euro limit. (They wanted to put the limit to 250 Euros, but it was not possible: this would have put out of circulation the 500 Euro banknote).I'm not so rich to be allowed to withdraw 1000 Euro every other day, but I see all the trouble that this is giving to normal people, especially the elder. Many of them do no have a bank account: they used to go every month to the Post Office and get their money cash, then kept their money at home and arrived at the end of the month, ready for another visit to the Post Office.This was an occasion for socialization with other people: go to the Post Office, queue, talk, etc...Now they are obliged to open a bank account, that will not be "no cost" (Some Banks promise this, but you have a minimum cost of about 52 Euros per year because of register taxes).After some years, this cost will increase, surely..This is a government of Bankers...Best regards

author: siliconmix
author_rank: Frequent Contributor
timestamp: February 23, 2012, 08:39:30 pm
content: in britain they've closed a load of post offices .it is a great shame.