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| Thread ID: 98267 | 2009-03-18 02:00:00 | Visa Debit Cards - Check em regulalary ! | Digby (677) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 757346 | 2009-03-18 20:14:00 | The bank has no control over the timing of the transaction processing. This is done by Visa and Mastercard. The banks are just 'customers' of these two monolithic organisations. However the cynical might think there is some manipulation of the timing - however, practically speaking I doubt whether there is any conscious manipulation - just think how many transactions are running through the Visa/Mastercard servers at any given minute of any given day: thousands! Ok, I will accept that it was not necessarily the bank that. purely by co-incidence and with no selfish motives in mind. caused the delays which again by pure happenstance caused me to pay more than expected on almost every overseas transaction. However, may I be permitted the luxury of assuming that it may be happening to "Thousands" of people at any minute? I am sorry if the thousands of dollars made every hour causes the executives of Mastercard/Visa to lose sleep worrying about the possible injustice caused by "pure chance". I hope that the fact that I have eased the suffering of these worthy people by my change to an instant transfer debit card will count in my favour when the day of reckoning comes. Also, I might have a Tui. ;) |
R2x1 (4628) | ||
| 757347 | 2009-03-18 20:21:00 | Just as an aside, were you also aware that every foreign transaction for Visa/Mastercard is converted to US dollars before being converted in NZ dollars? So if you buy something in Australia, the transaction is converted from AUD to USD and then from USD to NZD. So you lose twice on the conversion rate. This could look like your deliberate selection of a non-advantageous rate (but of course very advantageous for the credit card company)... | johcar (6283) | ||
| 757348 | 2009-03-18 20:31:00 | Err, almost all of them started as US$. :D However I wouldn't be at all surprised to find the Aussies were having a go at my pitifully small resources too. ;) |
R2x1 (4628) | ||
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