posted on November 10, 2000 03:44:20 AM new
Damon - what are the requirements for the new debit card? Personal accounts, or premier and business accounts?
posted on November 10, 2000 05:07:00 AM new
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djaythree:
"Damon - what are the requirements for the new debit card?"
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I have this vision of an elderly couple working for a few years, auctioning items to finance a well-deserved vacation to Bangkok. They finally arrive, find a nice little restaurant, whip out their PayPal Visa debit card to pay the bill, only to have the waiter return. "I'm sorry Sir, you're card has been declined. Seems your account is frozen."
PayPal Visa, better leave home *without* it.
[ edited by dimview on Nov 10, 2000 05:08 AM ]
[ edited by dimview on Nov 10, 2000 05:09 AM ]
[ edited by dimview on Nov 10, 2000 06:34 AM ]
posted on November 10, 2000 09:59:30 AM new
Im not so sure paypal can offer a visa or mastercard debit card(checkcard) they are not a bank or FDIC insured.
Im curious are they ending x.com and in weeks going to offer the FDIC checking as paypal checking and then Issueing the same visa debt card x.com did with Paypal on them instead of X.com .
I have never seen a credit or debit check card issued buy a none bank that is not FDIC garenteed funds even your Ebay charge card is issued by a bank ebay pays for there name to be on the card.
my guess is that when they come out with the debit ATM card all will need to apply for paypal personal or business checking accounts that will be FDIC insured. http://www.Dman-N-Company.com
posted on November 10, 2000 06:52:09 PM new
FDIC insurance is not a requirement to offer VISA/MC debit cards. Most every large mutual fund offers a VISA or Mastercard debit card and they aren't insured by anybody.
posted on November 11, 2000 01:34:47 PM new
Sorry I was not implying only FDIC insured companies offer debit cards at all I was saying I myself have never seen it.
I don’t use credit unions for my auction sales since most will not handle business transactions if they see the paypal and bill point payments in to the account they would conceder this business transactions and I would have to find anther bank anyhow.
My biggest point is that with a visa or MasterCard debit check card you get all the rights a credit card user has.
In less they change their service how can they offer a Check cards with out the Checks and a way to make personal deposit by mail and electronically.
And if this is the case even if it is legal how or why would any company offering personal or business check cards & investments limit deposits to $500 or $1000 in a six-month period.
And even though as you say other companies issue these cards and are not FDIC insured this is probably so but its my bet they offer a better range of investments from not guaranteed return, moderate guarantee fund and guaranteed funds As way to invest your money in your account.
The better incentive to hold funds in the account will be the FDIC insurance.
The debit cards will be launched late this month/early December (according to schedule). The information relative to getting one should be available around that time (with the criteria).
posted on November 14, 2000 08:39:55 PM new
Well x.com will no longer allow me to use my debit card. I was declined purchases but via phone they tell me nothing is wrong...I opened an accout witn netbank and could not use my debit card to transfer funds..but I was able to make a transfer from my checks/same account...I am so sick of this crap with the banks...just waiting until I can transfer it all out of x.com....it's emabarassing to be at frigging walmart and have a 50.00 charge declined when you have way more than that in your account!!! Thanks X.com!!!!!
