wat is VISA and Mastercard??? wat is it use for and wat is it abt?

[asdfghjkl]

They are the 2 richest company in the world. We live in a world that they rule.:cry:

they rich because you sign using their services

 

[josho]

bro, wanna ask there would be interest charges or bank charges for every amount spent??? i mean debit card

No interest at all. Because what you spent on Debit Card already been deducted from ur bank. Need not to worry of interest. Just need to worry abt the balance. If you swipe more then what you had, it will not go thru.

I got that once before. Damn Malu.

 

[compro_1975]

No interest at all. Because what you spent on Debit Card already been deducted from ur bank. Need not to worry of interest. Just need to worry abt the balance. If you swipe more then what you had, it will not go thru.

I got that once before. Damn Malu.

oic, cos in my mind, i think it as a service, mayb the bank may 'commission' it off

 

[asdfghjkl]

oic, cos in my mind, i think it as a service, mayb the bank may 'commission' it off

by the way you ask also no use, because you around 16, so cannot apply the debit card;p
read the small print

 

[raincool2005]

if i am not wrong, Mastercard is very popular in South American countries. :think:

to put it simple terms... they are the middle man between bank and borrower.

 

[compro_1975]

by the way you ask also no use, because you around 16, so cannot apply the debit card;p
read the small print

small print??? where where where??? i am toking abt UOB's TX card, tell me where did i missed out: http://www.uobgroup.com/pages/personal/deposits/savings/txaccount.html

me gonna apply on mon ler.... need ypur help

 

[josho]

What are the requirements?

* Above 16 years old up to 21 years old

It's ok for 16 yr old teenager to apply.

 

[Yeowww]

Mastercard or VISA depends on the countries that they are strong in. I think Mastercard is more popular in msia, visa in sg.

What is important is the Bank that issues it. I ever had my OCBC Visa rejected (while at overseas) at the point of purchase but they accept Citibank Visa. If you are only using in sg...then get local banks issued card to enjoy the discount/perks. but if u are the traveller type, i suggest getting big names like citi, hsbc, standchart...

 

[quekky]

from wikipedia

The debit protocol involves using the card at a point-of-sale terminal (POS) or ATM where the PLUS or Interlink logo is shown, with a Visa card that has the PLUS or Interlink logo on the back of the card. A PIN (personal identification number, known by its acronym) is used to identify the cardholder. The money is deducted from the attached checking account or prepaid account (which is similar with no paper check-writing capability) or, more commonly, from a current account).

The credit protocol involves using the card at a POS or a banking center where the Visa logo is shown. The cardholder's signature is generally used for identification, usually together with the cardholder's civic registration number or ID card/passport number. Holders of any Visa card may use the credit protocol even if the card is marketed as a debit card or prepaid card (basically since it has the Visa logo on the front of the card). One source of confusion is the merchant may ask "debit or credit?" even though the words are not defined that way in most dictionaries and even though the card may say "debit card" right on it, and still be available for "credit" transactions. In this way it is a misnomer that the credit cards are only for loans or that the debit protocol is only for checking accounts. Banks actually choose various backend methods of handling the accounts, making "debit" a generic synonym for "Plus/Interlink" (and the equivalent competitive networks), and "credit" a generic synonym for "Visa" (and MasterCard, American Express, Discover Card, which have similar systems).

The names of the two protocols use the arbitrary "debit" and "credit" from accounting meaning left and right, and they originally had the meanings (and still do to many people) that with credit the cardholder pays later for the purchase, and with debit the cardholder pays immediately. The truth today is that they are merely two different protocols, with which there is still considerable confusion, and even lawsuits over the definitions of products for purposes of antitrust law. Banks can use independent methods to actually recover the money paid for purchases, regardless of which protocol is used. For example, the debit protocol can be used to incur a debt to the bank, and the credit protocol can be used to take money from a checking account.

Some debit card cannot be used for online transactions, eg GO card from POSB. Usually there would't be any interest for debit card as you pay your bank almost immediate, but there might be subscription charges

NETS is the most commonly accepted electronic payment service in Singapore. It is also a middle man between bank and merchant. Not sure what it's called in Australia.

ATM is a feature that allow you to withdraw money from the wall

To have a Credit Card, singapore law states that you need to have 30k pa salary, or certain amount in local bank. There's interest rates but usually bank give us some time to pay before they start charging interest

There's also such things as Stored-value Credit Cards, something like pre-paid sim cards

 

[benjaminteo]

from wikipedia


Some debit card cannot be used for online transactions, eg GO card from POSB. Usually there would't be any interest for debit card as you pay your bank almost immediate, but there might be subscription charges

NETS is the most commonly accepted electronic payment service in Singapore. It is also a middle man between bank and merchant. Not sure what it's called in Australia.

ATM is a feature that allow you to withdraw money from the wall

To have a Credit Card, singapore law states that you need to have 30k pa salary, or certain amount in local bank. There's interest rates but usually bank give us some time to pay before they start charging interest

There's also such things as Stored-value Credit Cards, something like pre-paid sim cards

"Hehehe... Confusion achieved, we will just wait for some "tutu" wanting to get a debit card, and "accidentally" get a credit card so that we can charge him so much interest we literally drain everything out."

-Love, some major bank

Oh yeah, in Australia- http://www.anz.com/aus/ind/everyday/accounts/visadebit.asp wah... so cute got three different designs. And UOB's mini debit card is cool for frequent spenders:

In CP: "Wah so cheap ah... okay I pay I pay... eh? Where is my card? I remember I place it in my wallet!"

-UOB Mini. So mini, you can't find your card.

 

[simon80]

VISA and Mastercard are one of the most friendliest loan sharks in town.

legal loanshark .. mind u !
LOL

 

[benjaminteo]

Oh yeah, the GO! Card from POSB (Mastercard) can't go very far as the UOB Mini (Visa) counterpart. The catch is I have to open another account with UOB as I only have the savings account (kena cheated at a young age) since my primary school days with POSB.

Hey guys thanks for contributing the relevant informations here for everyone to read.

 

[ah.zeep]

...
NETS is the most commonly accepted electronic payment service in Singapore. It is also a middle man between bank and merchant. Not sure what it's called in Australia.

I believe it's called EFTPOS.

 

[compro_1975]

"Hehehe... Confusion achieved, we will just wait for some "tutu" wanting to get a debit card, and "accidentally" get a credit card so that we can charge him so much interest we literally drain everything out."

-Love, some major bank

Oh yeah, in Australia- http://www.anz.com/aus/ind/everyday/accounts/visadebit.asp wah... so cute got three different designs. And UOB's mini debit card is cool for frequent spenders:

In CP: "Wah so cheap ah... okay I pay I pay... eh? Where is my card? I remember I place it in my wallet!"

-UOB Mini. So mini, you can't find your card.

me still young, bank limit is 18 years old

 

[user12343]

the shoik-ness of charging your purchases to ur CC.....priceless, the suckiness to settle ur month-end bills, invaluable.... there are some things money can't buy......but for everything else, there's master/visa card.... *lol*

 

[wazzup]

There's still JCB, Amex, and lotsa other 'protocols'.

 

[Paul_Yeo]

Cash is King! can you buy a plate of chicken rice with card?

 

[compro_1975]

Cash is King! can you buy a plate of chicken rice with card?

can there is one @ the west part of sg that does so, not sure where, claypot also can

 

[wazzup]

Cash is King! can you buy a plate of chicken rice with card?

Tsk tsk... if I bring you there, you sign with your card?

 

[amateur_photographer]

can you buy a plate of chicken rice with card?

can, in Chatterbox, Mandarin :bsmilie: