| MD wins right to sue TD over Visa fees
As record numbers of Canadians head south for cross-border shopping, a court has ruled that a class-action suit against the Toronto Dominion Bank over foreign currency transactions on its Visa credit cards will be allowed to proceed. The decision by the Court of Appeal for Ontario, released this week, overturns a lower court ruling that dismissed the certification of a class-action suit by a Toronto doctor who complained about service charges on his TD Visa card. Dr. Paul Cassano used his credit card to pay for a hotel in New York in 1994. The bill came to $563.36 (U.S.), or $766.62 (Canadian). The hotel mistakenly charged his credit card twice, so Cassano was given a credit. However, instead of a refund of $766.62, his credit card statement showed he was given $745.44.
Pelosi: 'Given His Dismal Record, President Bush in No Position to Lecture Congress About Fiscal Responsibility'
Speaker Nancy Pelosi released the following statement today in response to a speech in Indiana this afternoon by President Bush in which he compared Congress to "a teenager with a new credit card." Below the Speaker's statement is a fact sheet comparing the President and Congress' fiscal records. "If President Bush applied for a credit card, any bank in America would turn him down as a bad credit risk. He has put more foreign debt on the nation's credit card than all previous Presidents combined - saddling our children and grandchildren with $3.3 trillion in new debt. "At the same time, President Bush has compiled one of the worst records of job creation since the Great Depression while American families saw their incomes drop by $2,500. "Given his dismal record of maxing out America's credit card, the President is no position to lecture Congress about fiscal responsibility or economic policy.
Vouchers make it safer online
Online shopping holdouts can now buy virtual Visa vouchers to pay for internet purchases without the need for plastic cards or even a bank account. The move is expected to assuage fears of thousands of Australians who avoid shopping over the internet or telephone for fear of credit card fraud. Customers can buy "VCard" credit from retail stores in the same way they buy pre-paid mobile phone credit. The credit - up to $1000 per VCard - can then be used in place of a credit card anywhere in the world that accepts Visa. A once-off fee of $5.50 applies for each voucher and you can't spend more than the amount you put on. Market research firm Forrester, in a report released in April, found 7.2 million Australians were online shoppers. It forecast that figure would grow by an average of 22 per cent a year between now and 2010.
BNZ picks strong spending figure
The Bank of New Zealand is predicting strong retail spending for September when the figures are released on Thursday. Spokesman Craig Ebert says the market is looking for a 0.6 percent increase in sales, but the BNZ expects the rise to be as much as 1.4 percent, because of strong key indicators it has already spotted. He says credit card billings and EFTPOS transactions were both unusually strong. However, Mr Ebert says the headline result could be overstating the true pulse of consumer spending, because there was an element of 'catch-up' from a very flat June-August quarter. And he says there are signs household budgets are getting squeezed, with mortgage rates going up and the housing market flattening out. .
Fargo Announces HDPii Instant Issuance Financial Card PrinterFargo HDPii Instant Issuance Financial Card Printer ...
MINNEAPOLIS, BUSINESS WIRE -- Fargo Electronics, Inc., a global leader in secure technologies for card identity systems, today announced the introduction of the HDPii Financial Card Printer. Utilizing Fargo's patented High Definition Printing (HDP) technology, the HDPii is targeted toward banks, credit unions and retailers for on-site instant issuance of debit, credit and prepaid cards. "The HDPii sets a new standard in the instant issuance of financial and retail cards," said Steve Blake, vice president of business development for Fargo. "Utilizing High Definition Printing, cards no longer need to be preprinted, embossed or indent printed." Both cardholders and financial institutions will experience advantages of the HDPii Financial Card Printer: Improved Customer Experience: In a world of instant gratification, delivering a card on the spot means customers will not have to wait for days or weeks to receive their card, or be concerned that it may be lost or stolen in the mail.
Christmas shoppers use different means for payment
What�s in your wallet? The chances are better these days that it�s not a paper check.
According to the National Retail Federation, almost 40 percent of shoppers will rely on their debit/check cards to make purchases this holiday season while around 30 percent will be using credit cards and 25 percent paying with cash. Only about five percent will write personal checks at the cash register.
Whatever the choice may be, financial counselors, financial institutions, retailers and even shoppers agree that the debit card has become the most common method of payment.
However, Terry Zeltinger, president of United Community Bank, said there is not a �one size fits all� when it comes to paying for purchases.
�Every individual has a different set of circumstances and preferences for the method of payment that fits their situation,� Zeltinger said.
|
