Atreides Posted February 19, 2006 Share Posted February 19, 2006 What do you guys think of electronic payments? Word is the US will be adopting technology where you can pay for stuff by scanning chips or handphones to pay bills. Sounds good to me. That leaves awkward coin hunting and penny counting (own up those who stay in Canada) a thing of the past since transactions are exact and paid in a few seconds. Plus if you have something prepaid that's pretty much limiting how much can get stolen. You guys heard of something like this at your place? Spreading beauty with my katana. Link to comment Share on other sites More sharing options...
alanschu Posted February 19, 2006 Share Posted February 19, 2006 I don't see it as being bad. I know there are those out there that feel this will only strengthen the government's hold on us and whatnot, and help promote big brother....but I'm a skeptical of it going that far. Link to comment Share on other sites More sharing options...
Atreides Posted February 19, 2006 Author Share Posted February 19, 2006 Guess it could be used to track movement/spending, but they pretty much do that with credit/debit cards anyway. The tradeoff of the grannies that dig out their coin purses and spend ages rummaging for exact change would be worth it though. Spreading beauty with my katana. Link to comment Share on other sites More sharing options...
alanschu Posted February 19, 2006 Share Posted February 19, 2006 You can also save money by not having to pay people/equipment to make it. Hysteria over information theft and all that continues to increase as well, but as you indicated with the movment/spending tracking, they are already capable of doing that. I guess the concern is that it becomes even easier. Link to comment Share on other sites More sharing options...
Atreides Posted February 19, 2006 Author Share Posted February 19, 2006 The thing that'd concern me most is identity theft and illegal spending sprees. I think a compromise of buying anonymous debit cards that you can add prepaid money as needed would be a fair compromise. Actually that's what Malaysia's already using for paying highway tolls. Spreading beauty with my katana. Link to comment Share on other sites More sharing options...
alanschu Posted February 19, 2006 Share Posted February 19, 2006 I've heard of bridges that let you use an RFID tag to pay your toll, so as you drive by it just charges you. I do think that, as this type of technology becomes more and more accessible, the ability to counter illegal spending sprees will also improve. I mean, already I am not responsible for merchandise purchased by my credit card if stolen...though the supplier is still SOL. Link to comment Share on other sites More sharing options...
Rayth Posted February 19, 2006 Share Posted February 19, 2006 TEH MARK OF TEH BEAST!!!11!!111!!!eleven1!! Link to comment Share on other sites More sharing options...
Judge Hades Posted February 19, 2006 Share Posted February 19, 2006 I don't carry cash at all any more. I use my debit/check card for everything. And what it can't pay for I write a check. Link to comment Share on other sites More sharing options...
Oerwinde Posted February 19, 2006 Share Posted February 19, 2006 I don't carry cash at all any more. I use my debit/check card for everything. And what it can't pay for I write a check. <{POST_SNAPBACK}> Same. I only use debit unless I have no money in my account, then I use credit. Sucks when the debit/credit machine is down though. The area between the balls and the butt is a hotbed of terrorist activity. Link to comment Share on other sites More sharing options...
astr0creep Posted February 19, 2006 Share Posted February 19, 2006 I don't carry cash at all any more. I use my debit/check card for everything. And what it can't pay for I write a check. <{POST_SNAPBACK}> Same. I only use debit unless I have no money in my account, then I use credit. Sucks when the debit/credit machine is down though. <{POST_SNAPBACK}> I did that. And then I went bankrupt because I never had money in my account... Plus, using a debit card is not free. Depending on the financial institution, here in Canada it costs from 1$ to 3$ everytime we use a debit card. Plus, if you use a debit card from a bank in an ATM from another bank it costs almost double. What worries me about electronic payment is identity theft, like most people. Some can already steal cell phone signals and use your own account to make calls and then you get charged. I don't really want to think about the electronic signal from a chip to a reader being stolen and funds diverted somewhere it doesn't belong. It's all very fast and practical in theory but the bottom line is that there is still nothing as secure as cold hard cash, provided you keep the amount you carry secret. Then it's just a matter of statistics wether you get mugged or not. Plus there will be uncontrolled shopping sprees because of the ease of payment. Think about your wife in a shopping center with your chipped card in her purse and everytime she leaves a store with an item it gets scanned and you get charged for it. If she doesn't need to wait for the cashier anymore... Brrr I shiver in fear. http://entertainmentandbeyond.blogspot.com/ Link to comment Share on other sites More sharing options...
Judge Hades Posted February 19, 2006 Share Posted February 19, 2006 I don't use ATMs. I do direct buys. Link to comment Share on other sites More sharing options...
Deraldin Posted February 19, 2006 Share Posted February 19, 2006 Plus, using a debit card is not free. Depending on the financial institution, here in Canada it costs from 1$ to 3$ everytime we use a debit card. <{POST_SNAPBACK}> That depends on your account. I know that at least at the bank I use they have a couple account types that have unlimited transactions free and others that give you a certain number free after which you have to pay the fee. The fee can vary from .50 up to $5 depending on your account type. Personally I always have some small amount of cash on me either for places that don't accept debit, or for other small purchases under $10 usually (like lunch). Link to comment Share on other sites More sharing options...
Diamond Posted February 19, 2006 Share Posted February 19, 2006 Since I'm a student my debit card monthly fee of AU$5 is waived. Link to comment Share on other sites More sharing options...
Judge Hades Posted February 19, 2006 Share Posted February 19, 2006 A monthly fee? I only pay a yearly fee of $20 USD. Link to comment Share on other sites More sharing options...
Surreptishus Posted February 19, 2006 Share Posted February 19, 2006 fees for debit cards?? I've heard of fees for credit cards but even they are pretty rare nowadays. Link to comment Share on other sites More sharing options...
Diamond Posted February 19, 2006 Share Posted February 19, 2006 Oh yes, we have monthly fees here. Link to comment Share on other sites More sharing options...
Judge Hades Posted February 19, 2006 Share Posted February 19, 2006 That sucks. Link to comment Share on other sites More sharing options...
astr0creep Posted February 19, 2006 Share Posted February 19, 2006 Yes it does. So if there are extra fees now, even though our debir cards allow the banks to fire employees, what will it be like when technology advances? And shouldn't we put money where it counts, like finding actual cures for diseases instead of medication that simply alleviate symptoms? http://entertainmentandbeyond.blogspot.com/ Link to comment Share on other sites More sharing options...
Dark_Raven Posted February 19, 2006 Share Posted February 19, 2006 I still do things the old fashion way. Pay by mail, get my check from work and not use direct deposit. Hades was the life of the party. RIP You'll be missed. Link to comment Share on other sites More sharing options...
Atreides Posted February 20, 2006 Author Share Posted February 20, 2006 Why don't you use direct deposit? I know some employers that only pay through direct deposit. Plus the numbers are updated faster (that's all that's in your bank account - number records) without you having to pick up/bank cheque. Spreading beauty with my katana. Link to comment Share on other sites More sharing options...
Kor Qel Droma Posted February 20, 2006 Share Posted February 20, 2006 Direct deposit works great for me. But do you want to know what's scary about modern society? People buy packages of pre-cut apples. Jaguars4ever is still alive. No word of a lie. Link to comment Share on other sites More sharing options...
Diamond Posted February 20, 2006 Share Posted February 20, 2006 Direct deposit works great for me. But do you want to know what's scary about modern society? People buy packages of pre-cut apples. <{POST_SNAPBACK}> I can understand pre-cut watermelon or pre-cut bread, but pre-cut apples... Link to comment Share on other sites More sharing options...
alanschu Posted February 20, 2006 Share Posted February 20, 2006 If you're complaining about everyday debit card fees while living in Canada, you aren't looking hard enough. I haven't paid a fee for a debit transaction in over 5 years. Nor do a pay a monthly fee for my debit card. It's interesting, because I guess it just doesn't exist, at least not large scale, in Europe. Link to comment Share on other sites More sharing options...
Dark_Raven Posted February 20, 2006 Share Posted February 20, 2006 Why don't you use direct deposit? I know some employers that only pay through direct deposit. Plus the numbers are updated faster (that's all that's in your bank account - number records) without you having to pick up/bank cheque. <{POST_SNAPBACK}> I just never thought of it. Going to the bank to deposit my check is getting tiring though. Hades was the life of the party. RIP You'll be missed. Link to comment Share on other sites More sharing options...
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