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Yes, they do. With PayPal and Google Payments being able to accept credit cards to pay people, it means that you can send money to anyone through your credit or debit card.
In fact, the ubiquity of credit cards has made credit card transactions the #1 use of foreign exchange. I'm in the United States, I can go to a website in Canada, the UK or any other place that can ship overseas. They charge me a certain amount, in Canadian Dollars, in British Pounds, in Euros, in Hong Kong dollars, or whatever plus shipping to the U.S.. The processor will ask for approval for an amount in that currency, my bank will figure that in U.S. Dollars plus 3% for conversion, and if I have it, the transaction is approved. The merchant gets paid in their currency, I get billed in dollars plus the transaction charge, and the credit card company gets an extra 3% to make the currency conversion.
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∙ 11y ago
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Is cash and money the same thing?
yes no because money can be checks or debit cards
Can a debit card have negative money?
Yes if you refer 'negative money' to overdraft. Some new forms of debit cards have the overdraft function but cost you a fee which a credit card does not within its overdraft limit
Should credit debit cards replace money?
Not always. There are times when it is easier to drop change into a meter than to put a debit card in a slot. Debit cards can have a fee. Debit cards can be subject to identity theft. Debit cards can be counterfeited. People who use debit cards often don't know how much they have in their account and can overspend their money and get into debt very fast. Debit cards have their place in place of money, but, there are some times when paying for items with cash and coin is the better way.
Which payment system is known as plastic money?
Credit cards and debit cards fall under this payment system. The term 'plastic money' comes from the fact that these cards are made of plastic and they function as cash substitutes in financial transactions.
How Debit cards are differ from credit cards?
Debit cards charges money direct from a checking account whenever purchases are made, while a credit card allows borrowing of money at local merchants.
Is cash and money the same thing?
yes no because money can be checks or debit cards
What are used in place of writing checks?
Debit cards take money from the account. Money Orders are available. Postal Money Orders.
Why were checks and balances created?
Checks were the best way of paying your bills before they invented debit cards. And a balance was the best way of knowing whether you had enough money in your account to cover the check.
Can a debit card have negative money?
Yes if you refer 'negative money' to overdraft. Some new forms of debit cards have the overdraft function but cost you a fee which a credit card does not within its overdraft limit
What types of bank accounts does PNC offer?
PNC offers savings, checking, money market, mutual funds. Credit cards and debit cards are available as well. Free checks are given.
Should credit debit cards replace money?
Not always. There are times when it is easier to drop change into a meter than to put a debit card in a slot. Debit cards can have a fee. Debit cards can be subject to identity theft. Debit cards can be counterfeited. People who use debit cards often don't know how much they have in their account and can overspend their money and get into debt very fast. Debit cards have their place in place of money, but, there are some times when paying for items with cash and coin is the better way.
Which payment system is known as plastic money?
Credit cards and debit cards fall under this payment system. The term 'plastic money' comes from the fact that these cards are made of plastic and they function as cash substitutes in financial transactions.
What formes can money take?
Money can be in form of cash, credit, debit, checks, etc.
How Debit cards are differ from credit cards?
Debit cards charges money direct from a checking account whenever purchases are made, while a credit card allows borrowing of money at local merchants.
Is purchasing with a credit card more secure then purchasing with a debit card?
Purchasing with a Debit Card can be considered more secure. If you use the PIN function, it can be very secure. Most establishments dont ask for proper identification when buying with credit. Keep in mind that MOST debit cards also contain a credit function. Most credit cards and debit cards are protected by fraud from the financial institution that issues the card. In this day and age, the money can be re-deposited into your account.
Why use debit cards rather than credit cards?
save money on interest
Do have money available for people with debit cards only?
yes
