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#11
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Citibank chip-and-pin cards
On Aug 17, 4:59*am, Chris Blunt wrote:
Probably because it's no use individual credit card issuers acting alone. It needs the whole industry in each country to agree to issue chip-and-pin cards and for merchants and card acquirers all to be set up to accept them. For now, they could issue cards with both magnetic stripes and a chip to the customers who request them. If the bank is concerned about the expense, the bankers should also think about the profits that would be lost when I take my banking business elsewhere (I am a Citigold customer). |
#12
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Citibank chip-and-pin cards
James Silverton wrote:
On 8/17/2011 5:06 AM, Martin wrote: On Wed, 17 Aug 2011 10:42:52 +0200, Johannes Kleese wrote: Does anyone know why Citi does not make chip-and-pin cards available to US-based customers? Rumors have it that people in the US still use cheques, like, on real paper and such It's a fact that they do in UK too; and that by popular demand the abolishment of cheques has been postponed until 2019 at the earliest. This reminds me that the topic of abolishing the dollar bill in the US has arisen again with the repeated suggestion that the Treasury should do as in Canada and abolish the bills. What is not recognized is that very large number of Americans do not like coins at all and don't carry them except for use in older parking meters. Quite often, any change gathered during the day is deposited in a jar and periodically taken to the bank for counting and deposit. I usually find that I deposit 30 or 40 dollars a month. Personally, I prefer the dollar coins for a number of reasons. I just wish more machones accepted them. Trying to use anything but a crisp fairly new dollar bill(a tiny minority of dollar bills in circulation) in a macine of any kind is a major exercise in frustration. One dollar coin is lighter and more compact than four quarters, the obly reliable alternative. Furthermore, from an economic point of view, if one is allowed to bring that up, they so outlast the paper dollars that they cost less to produce. Unfortunately, there are too many people like you refusing to use them. -- Erilar, biblioholic medievalist with iPad |
#13
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Citibank chip-and-pin cards
"James Silverton" wrote in message ... On 8/17/2011 5:06 AM, Martin wrote: On Wed, 17 Aug 2011 10:42:52 +0200, Johannes Kleese wrote: Does anyone know why Citi does not make chip-and-pin cards available to US-based customers? Rumors have it that people in the US still use cheques, like, on real paper and such It's a fact that they do in UK too; and that by popular demand the abolishment of cheques has been postponed until 2019 at the earliest. This reminds me that the topic of abolishing the dollar bill in the US has arisen again with the repeated suggestion that the Treasury should do as in Canada and abolish the bills. What is not recognized is that very large number of Americans do not like coins at all and don't carry them except for use in older parking meters. Quite often, any change gathered during the day is deposited in a jar and periodically taken to the bank for counting and deposit. I usually find that I deposit 30 or 40 dollars a month. I use checks when I write amounts to charitable organizations and my church as proof for charitable deductions on my federal income tax. The bank sends me statements with copies of those checks to back up the amounts. Otherwise I always use my credit card. I do wish that the bank or credit union would issue credit cards with the chip to make it easier when I am traveling out of the USA...but truthfully, I had no problems using my credit card in hotels and restaurants in Europe this year. I do worry that such a problem might occur one day. I have an ATM card that I use for that purpose only and have had no problems with it while traveling either. I don't care for coins such as pennies and nickels as they damage the coin holder on my wallet; so I am one who ends up taking all my small change to the credit union to cash in for bills every three or four months. The dollar is the denomination most used, so most of the bills end up quite tattered and worn, but I still prefer it to a dollar coin. With the cost of living as it is now, we may need to go back to $2. bills! --Jean --Jean |
#14
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Citibank chip-and-pin cards
"Giovanni Drogo" wrote in message news:alpine.LSU.2.00.1108171429210.10884@cbfrvqba. ynzoengr.vans.vg... On Wed, 17 Aug 2011, Johannes Kleese wrote: Rumors have it that people in the US still use cheques, like, on real paper and such Well, I do use cheques (2-3 per year) for some payments, here in Italy. Like e.g. a 4000 euro hotel bill (1 month full board for two persons). How else could I pay on-the-spot ? Considered that credit card payments are limited to 2600 euro per month; Bancomat card payments to even lower limits; I would not like to carry such an amount of cash with me, and I could withdraw from an ATM only 500 euro at a time (and I guess there is a monthly limit too), and the ATMs available in the resort are not my own bank's, so I should pay a fee of 2.7 eur per withdrawal. I could make an online bank transfer, but ideally from home/office not on the spot (I'd have to go to a public Internet point or use the hotel computer typing in all my home bank credentials, and I do not like the idea of doing that on a computer which is not mine, and where I could not erase all browser cache/history when I want). I would ask the bank to increase the limit account if I were you to avoid such problems. I have an $25,000. limit on my card which the bank set itself, but I never charge that amount as I pay my account in full each month and never charge more than I can pay that month. It is a comfort to know that I could charge that amount if I were overseas and had an emergency. --Jean |
#15
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Citibank chip-and-pin cards
Martin wrote on Aug 17, 2011:
On Wed, 17 Aug 2011 07:26:57 -0700 (PDT), " wrote: On Aug 17, 4:59*am, Chris Blunt wrote: Probably because it's no use individual credit card issuers acting alone. It needs the whole industry in each country to agree to issue chip-and-pin cards and for merchants and card acquirers all to be set up to accept them. For now, they could issue cards with both magnetic stripes and a chip to the customers who request them. If the bank is concerned about the expense, the bankers should also think about the profits that would be lost when I take my banking business elsewhere (I am a Citigold customer). My Dutch cards have both strip and chip. So do all cards in the UK AFAIK. -- Mike Lane UK North Yorkshire mike_lane at mac dot com |
#16
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Citibank chip-and-pin cards
"Chris Blunt" wrote in message ... On Tue, 16 Aug 2011 17:10:36 -0700 (PDT), " wrote: Does anyone know why Citi does not make chip-and-pin cards available to US-based customers? Their advertising in Asia and Europe (and probably the rest of the world) show that chip-and-pin is offered there, so they clearly have the physical ability to create them. When I asked in the US, some Citi employees did not even know that these existed, and none offered any hope. Probably because it's no use individual credit card issuers acting alone. It needs the whole industry in each country to agree to issue chip-and-pin cards and for merchants and card acquirers all to be set up to accept them. This is what happened in the UK several years ago. Everybody's cards were switched to chip-and-pin over a period of a couple of years. During that time merchants were issued with machines capable of handling them and staff were trained how to use them. Credit card holders also need to be told what changes are happening and given information to make sure they are issued with PINs and know how to use their cards with the new system. It requires a coordinated effort on the part of the entire industry to make all that work smoothly. Chris I'm surprised they haven't got chip cards. Couple of factors: 1. In Australia, credit card fraud is paid for by the Bank. The use of chip cards reduces fraud, so it reduces costs to the Bank. It has very little consumer benefit; Australian consumers don't pay for fraudulent transactions. (In fairness, this is also true in the US, or at least was when I was living there). 2. The terminal POS equipment is provided by the Bank. There are thousands of banks in the US, lot more of a problem than getting four or five to agree on common POS infrastructure. 3. Current chip cards are already superseded. Contactless (wave and pay) systems using NFD technology will quickly replace them. The "killer app" is putting the credit card logic into a mobile phone app, such that the person's phone becomes the payment device, eliminating physical credit cards entirely. The Banks in Australia may have been better off skipping current smart cards and jumping straight to RFID/NFD based technology. Maybe that is what they are planning in the US. |
#17
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Citibank chip-and-pin cards
In article ,
James Silverton wrote: On 8/17/2011 9:30 AM, Neal Plotkin wrote: In , James wrote: This reminds me that the topic of abolishing the dollar bill in the US has arisen again with the repeated suggestion that the Treasury should do as in Canada and abolish the bills. What is not recognized is that very large number of Americans do not like coins at all and don't carry them except for use in older parking meters. Quite often, any change gathered during the day is deposited in a jar and periodically taken to the bank for counting and deposit. I usually find that I deposit 30 or 40 dollars a month. What's your source for the "very large number of Americans" who don't like coins? Personal observation but family and friends especially. I question your statistical sample. I see people using coins every day for small purchases, and I agree with Erilar that it's much easier to use coins than bills in machines that take money. And my personal observation is that when I travel in Canada or Euro-zone countries, dealing with 1- and 2-dollar or -euro coins instead of bills is slightly more convenient -- it's easier to fish coins out of my pocket than take out my wallet and then take bills out. -- Neal Plotkin |
#18
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Citibank chip-and-pin cards
On Wed, 17 Aug 2011, Maurice ON4BAM wrote:
Credit card payment is not limited to 2600 Euro/month. [...] negotiate a higher limit with the bank issueing the card. We have the option of increasing/decreasing the limit via our internetbanking 2600 is (my) default limit recommended by the bank. I know I can increase the limit and once I did for a trip abroad (where usage of credit card is convenient w.r.t exchange of cash and cheques are not accepted), but was advised to reset it after I return (the idea is to keep the limit as low as possible to prevent frauds ... and I must say I agree with the advice). I am not sure of the current procedure to change the limits online (there are different limits for different types of operations, some as high as 50,000 eur). I have a vague recall that for credit cards one can always lower the limit by oneself, but has to apply to the bank to raise it. If you carry your own (well protected) laptop you could use internetbanking as a last resort Since I travel exclusively with public transport, I'd like to reduce my luggage to the minimum, and surely I won't take a laptop in vacation. I think that paper cheques, insofar they are commonly accepted, are still a viable (the most viable and convenient) solution (the same applies to paper tickets for transport). -- ---------------------------------------------------------------------- is a newsreading account used by more persons to avoid unwanted spam. Any mail returning to this address will be rejected. Users can disclose their e-mail address in the article if they wish so. |
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