Credit & Debt

Useful Debit Card Safety Tips

Useful Debit Card Safety Tips

In today’s world, a debit card is a must. Even though debit and credit cards are often used synonymously, there’s a difference between them. A credit card would be issued to you against a certain amount of money in your term deposit account. A debit card on the other hand doesn’t require you to have a fixed deposit account. If ...

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Customers are Facing Problems of Hidden Charges Associated with Prepaid Debit Cards

credit card

As the average household debt is all time high in US, consumers really need to think prudently before taking loan and falling into the vicious spiral of debt. However, the bulwark to their prudence seems to be the offers made by debit card companies. The prepaid debit cards come handy in situations where money is required on an urgent basis. ...

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FCA to Review Credit Card Companies as 9 Million Britons are Badly in Debt

credit card

In UK, the credit card industry is worth £150 billion. This voluminous industry is going to be closely monitored by financial watchdog as there are approximately 9 million Britons, who are credit card holders and being pushed by the credit card companies to fall into debt. The announcement came from the Financial Conduct Authority. The FCA took responsibility on 1st ...

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US Senators Introduce New Legislation to Reduce Debit Card Liability Cap

Two US senators Mark Warner and Mark Kirk introduced a bill this week. The bill is called Consumer Debit Card Protection Act of 2014 and aims at minimizing the limit of accountability of shoppers with debit cards if they are convicted for deception. Senator Warner is a member of Democratic Party and from Virginia. Senator Kirk represents Republican Party from ...

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Cryptex to Allow Debit Card Holders to Convert Digital Currency into Cash

The Bitcoin to cash ATM and debit card provider company Cryptex will introduce personalized cards. The cards will form of cryptocurrency. To understand cryptocurrency, we need to understand Bitcoin. Bitcoin stands for virtual currency which is not regulated by any central authority such as US treasury and could be used for exchange. Creation of bitcoin, commonly known as mining involves ...

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Appeals Court Allows Federal Reserve to Set Higher Rate on Debit Card Swipe Fee

A big victory for the Federal Reserve Bank as a federal appeals court reimposed a 2011 Fed rule which enables banks to set higher charges on debit cards. A group of retailers challenged the rule and as the verdict went against them, it’s a huge setback for them. Earlier, the lower court delivered the verdict in favor of the merchants. ...

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