Is This the End of the Debit Card?

[Gary and Alla 3,694]

http://www.marketwatch.com/story/is-this-the-end-of-the-debit-card-2013-08-01?siteid=yhoof2

Many thanks to the Democrats saving the poor retailers from fees charged by banks...which of course were passed on to us. Hopefully the banks will be able to make it up on idiots that overdraw their accounts because they are mathmatically dysfunctional. Being stupid should have a price.

It is also a good example for those who think they will get something for free and pass the cost on to "big business" or "make the 1% pay"

Maybe Obama will pay for it from "his stash"

[Sousuke 1,214]

This begs the question - Is it legal (by law or by contract with the card company) for a retailer to place a limit for debit or credit purchases? We've had this debate at work, and coworker indicated that if a card is accepted at a store, the store must allow the card to be used no matter how low the payment.

Its probably a state by state question but I am curious.

[Darnell 8,478]

I know there is a HIGH, Daily limit on my cards per the card issuer.

However, for 'the lowest' - that seems 'local option', ie - each retailer can post a sign at the register for the min amount of credit or debit card.

[Dave&Roza 748]

This begs the question - Is it legal (by law or by contract with the card company) for a retailer to place a limit for debit or credit purchases? We've had this debate at work, and coworker indicated that if a card is accepted at a store, the store must allow the card to be used no matter how low the payment.

Its probably a state by state question but I am curious.

I saw a sign at the cash register that stated "There will be a $0.25 service charge for any credit card transaction below $5" To my mind it is the same as those places that do not accept the $100 bill even though it is suppose to be legal tender for all debts public and private. I think each retail business should be able to decide who they serve, what forms of payment they will accept, and the customer can deside whether they want to do business with this company, but unfortunately the government seems to dictate that everybody must be the same.

Dave

[del-2-5-2014 1,339]

I saw a sign at the cash register that stated "There will be a $0.25 service charge for any credit card transaction below $5" To my mind it is the same as those places that do not accept the $100 bill even though it is suppose to be legal tender for all debts public and private. I think each retail business should be able to decide who they serve, what forms of payment they will accept, and the customer can deside whether they want to do business with this company, but unfortunately the government seems to dictate that everybody must be the same.

Dave

I dictate with my wallet and never buy where they place a limit.

The only one that gets a pass occasionally is Arco AM/PM and there damn 45 cents fee.