It's the easy way to pay for your everyday purchases
The Bank of the West Debit Card is accepted at millions of locations worldwide.
It's easy to use your debit card
When making a purchase, present your Bank of the West Debit Card to the merchant for payment.
The amount of your purchase will be automatically deducted from your Bank of the West checking account.
You will receive a copy of your signed receipt for easy record-keeping.
The transaction will be itemized on your monthly checking account statement, so it's easy to keep track of how much you're spending.
MasterCard SecureCode
We are pleased to offer additional debit card protection for online purchases through MasterCard's® program, SecureCodeTM. A SecureCode is a password you create to provide additional security when conducting online transactions.
When you use your Bank of the West Debit Card for an online purchase, a window will pop up asking for your SecureCode, similar to using a PIN at the ATM. If the SecureCode is entered correctly, the purchase is authorized to be completed. If an incorrect code is entered, the purchase will not go through. Only you know your SecureCode, so only you can use your Debit Card for online purchases. It's that easy.
Sign up now. MasterCard SecureCode enrollment*
Who do I call if my card is lost or stolen?
When you realize your card is missing, immediately call the same number you call for customer service: (800) 488-2265. We will cancel your card at once and issue you a replacement card.
Wednesday, May 30, 2007
The easy way to pay for everyday purchases.
The easy way to pay for everyday purchases.
Bank of the West Debit Card
Pay for your daily purchases, right from your checking account. No more check writing, no need to carry large amounts of cash. Save time and simply "swipe and go". Record keeping is easy. Purchases you make using your debit card will appear on your monthly checking account statement. And, through MasterCard's® SecureCode TM program, you'll get additional protection when you make online purchases. Learn more.
If you sign up for eTimeBanker, our personal online banking service, you can view your debit card transactions online. The MasterCard® Debit Card is accepted at millions of locations worldwide.
Credit Card
Bank of the West Credit Cards can save you time and money. Whether you choose a Bank of the West Classic Card or Platinum Card with Priority Rewards, you enjoy added benefits in addition to the ease and convenience of a credit card. When you use your card for travel, you qualify for insurance privileges.
Explore the benefits Bank of the West credit cards have to offer:
Platinum Credit Card with Priority Rewards
Classic Credit Card
Bank of the West Debit Card
Pay for your daily purchases, right from your checking account. No more check writing, no need to carry large amounts of cash. Save time and simply "swipe and go". Record keeping is easy. Purchases you make using your debit card will appear on your monthly checking account statement. And, through MasterCard's® SecureCode TM program, you'll get additional protection when you make online purchases. Learn more.
If you sign up for eTimeBanker, our personal online banking service, you can view your debit card transactions online. The MasterCard® Debit Card is accepted at millions of locations worldwide.
Credit Card
Bank of the West Credit Cards can save you time and money. Whether you choose a Bank of the West Classic Card or Platinum Card with Priority Rewards, you enjoy added benefits in addition to the ease and convenience of a credit card. When you use your card for travel, you qualify for insurance privileges.
Explore the benefits Bank of the West credit cards have to offer:
Platinum Credit Card with Priority Rewards
Classic Credit Card
Even though they can look and act the same, debit and credit cards have different legal protections.
Even though they can look and act the same, debit and credit cards have different legal protections.
Even though they can look and act the same, debit and credit cards have different legal protections.
By Ronaleen Roha
August 8, 2001
A few years ago it was easy to tell the difference between a credit card and a debit card. You used your debit card at the ATM with a personal identification number, and you used your credit card for purchases. But today both types of cards carry familiar credit company logos, both can be swiped at the checkout counter and both can be used to make online purchases.
But even though debit and credit cards look and act the same, legal protections and the steps to settle problem purchases are quite different.
To protect and serve
Government regulations and voluntary industry policies will protect you if a credit or debit card is used to make unauthorized purchases. But the protections for credit cards are much broader.
Credit cards. Under federal law, if someone steals your credit card you're only responsible to pay the first $50 of unauthorized charges. And, says FTC lawyer Carol Reynolds, if you notify the issuer before the thief makes any charges, you may not be out anything. You're also free from liability if unauthorized purchases occur when the card is not physically present, say in an Internet purchase, she says.
Zero-liability policies, like those offered by Visa and MasterCard, add a second layer of protection. Under these programs you won't pay anything if someone fraudulently uses your credit card online or off.
Debit cards. The rules are similar for debit cards, but there are a few restrictions. For example, your liability under federal law is limited to $50, but only if you notify the issuer within two business days of discovering the card's loss or theft. Your liability could jump to $500 if you put it off. And even this cap is lifted if you wait more than 60 calendar days from the time your bank statement is mailed.
Federal protections are a bit more generous if a thief just steals your debit card number (and not the actual card), but you still have 60 days after receiving your bank statement to report any unauthorized transactions.
The Visa and MasterCard zero-liability policies also apply to debit cards, but only to non-PIN transactions. If a thief steals your card and your PIN, the federal rules are your only defense.
For additional protection check your homeowners or renter's insurance policy. Most cover up to $500 for losses from unauthorized card use. And no matter which card is stolen, always follow up with a certified letter to your issuer -- return receipt requested.
Even though they can look and act the same, debit and credit cards have different legal protections.
By Ronaleen Roha
August 8, 2001
A few years ago it was easy to tell the difference between a credit card and a debit card. You used your debit card at the ATM with a personal identification number, and you used your credit card for purchases. But today both types of cards carry familiar credit company logos, both can be swiped at the checkout counter and both can be used to make online purchases.
But even though debit and credit cards look and act the same, legal protections and the steps to settle problem purchases are quite different.
To protect and serve
Government regulations and voluntary industry policies will protect you if a credit or debit card is used to make unauthorized purchases. But the protections for credit cards are much broader.
Credit cards. Under federal law, if someone steals your credit card you're only responsible to pay the first $50 of unauthorized charges. And, says FTC lawyer Carol Reynolds, if you notify the issuer before the thief makes any charges, you may not be out anything. You're also free from liability if unauthorized purchases occur when the card is not physically present, say in an Internet purchase, she says.
Zero-liability policies, like those offered by Visa and MasterCard, add a second layer of protection. Under these programs you won't pay anything if someone fraudulently uses your credit card online or off.
Debit cards. The rules are similar for debit cards, but there are a few restrictions. For example, your liability under federal law is limited to $50, but only if you notify the issuer within two business days of discovering the card's loss or theft. Your liability could jump to $500 if you put it off. And even this cap is lifted if you wait more than 60 calendar days from the time your bank statement is mailed.
Federal protections are a bit more generous if a thief just steals your debit card number (and not the actual card), but you still have 60 days after receiving your bank statement to report any unauthorized transactions.
The Visa and MasterCard zero-liability policies also apply to debit cards, but only to non-PIN transactions. If a thief steals your card and your PIN, the federal rules are your only defense.
For additional protection check your homeowners or renter's insurance policy. Most cover up to $500 for losses from unauthorized card use. And no matter which card is stolen, always follow up with a certified letter to your issuer -- return receipt requested.
Which card when?
Which card when?
Your best bet is to "limit your use of debit cards to cash-and-carry types of purchases," says Susan Grant, vice president for public policy at the National Consumers League, such as for groceries, at the gas station or dry cleaners.
But for expensive or sight-unseen purchases (those made over the Internet or by phone), credit cards offer much more protection. For instance, you can contest a credit card charge for a product that arrives broken, or if the product you bought stops working after two weeks.
To get the rules on disputing a charge, check with your credit card issuer or download the Federal Trade Commission brochure, "Facts for Consumers: Fair Credit Billing."
"With a credit card, if you dispute a charge, it is taken off the record," says Ken McEldowney, executive director of Consumer Action, in San Francisco. "With a debit card purchase you are fighting to get your funds back into your account."
This gives you less leverage. You can contact your card issuer to see if they'll handle the dispute, but you'll probably have to take on the merchant yourself. And even if you succeed, you may be stuck with whatever the store policy is for cash or check returns.
Your best bet is to "limit your use of debit cards to cash-and-carry types of purchases," says Susan Grant, vice president for public policy at the National Consumers League, such as for groceries, at the gas station or dry cleaners.
But for expensive or sight-unseen purchases (those made over the Internet or by phone), credit cards offer much more protection. For instance, you can contest a credit card charge for a product that arrives broken, or if the product you bought stops working after two weeks.
To get the rules on disputing a charge, check with your credit card issuer or download the Federal Trade Commission brochure, "Facts for Consumers: Fair Credit Billing."
"With a credit card, if you dispute a charge, it is taken off the record," says Ken McEldowney, executive director of Consumer Action, in San Francisco. "With a debit card purchase you are fighting to get your funds back into your account."
This gives you less leverage. You can contact your card issuer to see if they'll handle the dispute, but you'll probably have to take on the merchant yourself. And even if you succeed, you may be stuck with whatever the store policy is for cash or check returns.
Which card when?
Which card when?
Your best bet is to "limit your use of debit cards to cash-and-carry types of purchases," says Susan Grant, vice president for public policy at the National Consumers League, such as for groceries, at the gas station or dry cleaners.
But for expensive or sight-unseen purchases (those made over the Internet or by phone), credit cards offer much more protection. For instance, you can contest a credit card charge for a product that arrives broken, or if the product you bought stops working after two weeks.
To get the rules on disputing a charge, check with your credit card issuer or download the Federal Trade Commission brochure, "Facts for Consumers: Fair Credit Billing."
"With a credit card, if you dispute a charge, it is taken off the record," says Ken McEldowney, executive director of Consumer Action, in San Francisco. "With a debit card purchase you are fighting to get your funds back into your account."
This gives you less leverage. You can contact your card issuer to see if they'll handle the dispute, but you'll probably have to take on the merchant yourself. And even if you succeed, you may be stuck with whatever the store policy is for cash or check returns.
Your best bet is to "limit your use of debit cards to cash-and-carry types of purchases," says Susan Grant, vice president for public policy at the National Consumers League, such as for groceries, at the gas station or dry cleaners.
But for expensive or sight-unseen purchases (those made over the Internet or by phone), credit cards offer much more protection. For instance, you can contest a credit card charge for a product that arrives broken, or if the product you bought stops working after two weeks.
To get the rules on disputing a charge, check with your credit card issuer or download the Federal Trade Commission brochure, "Facts for Consumers: Fair Credit Billing."
"With a credit card, if you dispute a charge, it is taken off the record," says Ken McEldowney, executive director of Consumer Action, in San Francisco. "With a debit card purchase you are fighting to get your funds back into your account."
This gives you less leverage. You can contact your card issuer to see if they'll handle the dispute, but you'll probably have to take on the merchant yourself. And even if you succeed, you may be stuck with whatever the store policy is for cash or check returns.
Bank of America
Bank of America is proud to introduce $0 online equity trades through Banc of America Investment Services, Inc.®" title="Bank of America is proud to introduce $0 online equity trades through Banc of America Investment Services, Inc.
A self-directed brokerage account with Banc of America Investment Services, Inc.
A combined balance of at least $25,000 in all of your Bank of America, N.A. deposit accounts (including checking, savings, and CDs)Consider an 8-Month High Yield CD at 5.10% APY²
If $25,000 in deposit accounts is not in line with your portfolio objectives, you can do online trading for as low as $5.Certain conditions apply.Clients of The Private Bank of Bank of America automatically qualify for $0 online equity trades.
Learn more
The advantages of integrated online banking and investing.
Banc of America Investment Services, Inc. a non-bank subsidiary of Bank of America, N.A., was recently rated by SmartMoney as one of the top five premium brokers3.
Frequently Asked Questions
Schedule of Banc of America Investment Services, Inc.'s Miscellaneous Fees.
For additional questions, please call Banc of America Investments Services, Inc. at 1.866.848.6540
Information for Montana. Change State
Privacy & Security:Bank of America, N.A. Member FDIC. Equal Housing Lender© 2007 Bank of America Corporation. All rights reserved.
1 This offer and investment products provided by Banc of America Investment Services, Inc® Banking products provided by Bank of America, N.A., Member FDIC
Offer available with an individual or joint Banc of America Investment Services, Inc. (BAI) Self-Directed Brokerage account. If you have a combined total of $25,000 or more in your deposit accounts at Bank of America N.A., BAI waives its commission fee for as many as 30 online equity trades each month. When you make an online equity trade, BAI determines whether you meet the balance requirement to qualify that trade for the commission fee waiver. BAI adds the average collected balances in your checking and savings accounts as of the prior month to the balances in your CD and FDIC-insured IRA accounts as of the prior business day. If this calculation reflects a combined total of less than $25,000, BAI then makes a second calculation to see if the trade qualifies by adding the balances in your checking, savings, CD and FDIC-insured IRA accounts as of the prior business day. Offer applies only to online equity trades, including stock and exchange traded fund (ETF) trades. Standard commission fees for online equity trades range from $5 to $14 depending on your relationship with Bank of America and apply when the balance requirement is not met, or when you exceed 30 qualifying trades.
To determine the 30 trade limit, BAI adds the qualifying trades in your individual accounts and in each joint account for which you are the primary account owner. Deposit accounts with the same social security number as the social security number(s) on the Self-Directed Brokerage account are systematically included in the balance determination. Deposit accounts maintained with the Military Bank of Bank of America, N.A. are not systematically included in the balance determination.
Other standard brokerage fees associated with, but not limited to, margin transactions, option trading, special stock registration/gifting, account transfer and processing, account maintenance, research request, termination and IRA custodial accounts apply. Standard deposit fees apply to deposit accounts.
Relationship requirements and pricing are subject to change. Offer does not apply to Business/Corporate Accounts, Investment Club Accounts, Partnership Accounts and certain fiduciary accounts held at BAI.
Private Bank clients are automatically eligible for this 30 trade offer.
2The Annual Percentage Yield (APY) is accurate as of 05/11/2007 and is subject to change without notice. This is a promotional rate that applies only to new CDs with an 8-month term opened online through bankofamerica.com. This promotional rate applies only to the initial CD term. At its first maturity date, the CD automatically renews at the rate applicable to a standard 8 month CD. The minimum balance required to open a High Yield CD is $5,000. Alternative terms not allowed. A penalty may be imposed for early withdrawal.
3 Ranked 4th as a Premium Discount Broker in the August 2006 edition of SmartMoney and in a July 11, 2006 article published on SmartMoney.com. Banc of America Investment Services, Inc. received 5 out of 5 stars for Customer Service; 4 out of 5 stars for mutual funds, investment products, banking amenities, and research; and 3 out of 5 stars for trading tools. SmartMoney evaluated 21 premium, full-service, and discount brokers. SmartMoney.com scored 7 brokers in the premium discount broker category on various criteria. The criteria included quality of service, commission and fees, investment products, account amenities, and research. More specifically, SmartMoney and SmartMoney.com reviewed the kinds of research offerings at each discount broker, stock recommendation data for full-service firms, mutual fund offerings, web reliability scores for discount brokers, and trade-execution performance. For basis discount firms, commissions and fees counted for 35% of the score versus 25% for the premium discounters. For premium discounters they weighted service firms the greatest weighting, 30% went to products and services.
Equity securities sold through Banc of America Investment Services, Inc. are subject to stock market fluctuations that occur in response to economic and business developments.
Products offered through Banc of America Investment Services, Inc.:
Are Not FDIC Insured
May Lose Value
Are Not Bank Guaranteed
Banc of America Investment Services, Inc. ® is a registered broker-dealer, Member NASD and SIPC, and a nonbank subsidiary of Bank of America, N.A.
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A self-directed brokerage account with Banc of America Investment Services, Inc.
A combined balance of at least $25,000 in all of your Bank of America, N.A. deposit accounts (including checking, savings, and CDs)Consider an 8-Month High Yield CD at 5.10% APY²
If $25,000 in deposit accounts is not in line with your portfolio objectives, you can do online trading for as low as $5.Certain conditions apply.Clients of The Private Bank of Bank of America automatically qualify for $0 online equity trades.
Learn more
The advantages of integrated online banking and investing.
Banc of America Investment Services, Inc. a non-bank subsidiary of Bank of America, N.A., was recently rated by SmartMoney as one of the top five premium brokers3.
Frequently Asked Questions
Schedule of Banc of America Investment Services, Inc.'s Miscellaneous Fees.
For additional questions, please call Banc of America Investments Services, Inc. at 1.866.848.6540
Information for Montana. Change State
Privacy & Security:Bank of America, N.A. Member FDIC. Equal Housing Lender© 2007 Bank of America Corporation. All rights reserved.
1 This offer and investment products provided by Banc of America Investment Services, Inc® Banking products provided by Bank of America, N.A., Member FDIC
Offer available with an individual or joint Banc of America Investment Services, Inc. (BAI) Self-Directed Brokerage account. If you have a combined total of $25,000 or more in your deposit accounts at Bank of America N.A., BAI waives its commission fee for as many as 30 online equity trades each month. When you make an online equity trade, BAI determines whether you meet the balance requirement to qualify that trade for the commission fee waiver. BAI adds the average collected balances in your checking and savings accounts as of the prior month to the balances in your CD and FDIC-insured IRA accounts as of the prior business day. If this calculation reflects a combined total of less than $25,000, BAI then makes a second calculation to see if the trade qualifies by adding the balances in your checking, savings, CD and FDIC-insured IRA accounts as of the prior business day. Offer applies only to online equity trades, including stock and exchange traded fund (ETF) trades. Standard commission fees for online equity trades range from $5 to $14 depending on your relationship with Bank of America and apply when the balance requirement is not met, or when you exceed 30 qualifying trades.
To determine the 30 trade limit, BAI adds the qualifying trades in your individual accounts and in each joint account for which you are the primary account owner. Deposit accounts with the same social security number as the social security number(s) on the Self-Directed Brokerage account are systematically included in the balance determination. Deposit accounts maintained with the Military Bank of Bank of America, N.A. are not systematically included in the balance determination.
Other standard brokerage fees associated with, but not limited to, margin transactions, option trading, special stock registration/gifting, account transfer and processing, account maintenance, research request, termination and IRA custodial accounts apply. Standard deposit fees apply to deposit accounts.
Relationship requirements and pricing are subject to change. Offer does not apply to Business/Corporate Accounts, Investment Club Accounts, Partnership Accounts and certain fiduciary accounts held at BAI.
Private Bank clients are automatically eligible for this 30 trade offer.
2The Annual Percentage Yield (APY) is accurate as of 05/11/2007 and is subject to change without notice. This is a promotional rate that applies only to new CDs with an 8-month term opened online through bankofamerica.com. This promotional rate applies only to the initial CD term. At its first maturity date, the CD automatically renews at the rate applicable to a standard 8 month CD. The minimum balance required to open a High Yield CD is $5,000. Alternative terms not allowed. A penalty may be imposed for early withdrawal.
3 Ranked 4th as a Premium Discount Broker in the August 2006 edition of SmartMoney and in a July 11, 2006 article published on SmartMoney.com. Banc of America Investment Services, Inc. received 5 out of 5 stars for Customer Service; 4 out of 5 stars for mutual funds, investment products, banking amenities, and research; and 3 out of 5 stars for trading tools. SmartMoney evaluated 21 premium, full-service, and discount brokers. SmartMoney.com scored 7 brokers in the premium discount broker category on various criteria. The criteria included quality of service, commission and fees, investment products, account amenities, and research. More specifically, SmartMoney and SmartMoney.com reviewed the kinds of research offerings at each discount broker, stock recommendation data for full-service firms, mutual fund offerings, web reliability scores for discount brokers, and trade-execution performance. For basis discount firms, commissions and fees counted for 35% of the score versus 25% for the premium discounters. For premium discounters they weighted service firms the greatest weighting, 30% went to products and services.
Equity securities sold through Banc of America Investment Services, Inc. are subject to stock market fluctuations that occur in response to economic and business developments.
Products offered through Banc of America Investment Services, Inc.:
Are Not FDIC Insured
May Lose Value
Are Not Bank Guaranteed
Banc of America Investment Services, Inc. ® is a registered broker-dealer, Member NASD and SIPC, and a nonbank subsidiary of Bank of America, N.A.
document.write('')
var axel = Math.random()+"";
var a = axel * 10000000000000;
document.write('');
var ic_bu = "DDT";
World Bank
World Bank
World Development Indicators (WDI) publication is the World Bank's premier annual compilation of data about development. The 2007 WDI includes more than 900 indicators in over 80 tables organized in 6 sections: World View, People, Environment, Economy, States and Markets, and Global LinksAtlas of the Millennium Development GoalsThe new Online Atlas of the MDGs is an innovative visualization of the Millennium Development Goals that complements the World Bank's MDG website. It explore maps of key indicators for each of the eight MDG goals, resizes countries to reflect comparative values, and pulls up quick tables of supporting indicators. The Online Atlas is also available in French and Spanish.
Global Development Finance - Summary and Country TablesGlobal Development Finance, Volume II: Summary and Country Tables (GDF) is the sole repository for statistics on the external debt of developing countries on a loan-by-loan basis. This new GDF website presents reported or estimated data on total external debt for the 135 low-and middle-income countries that report to the World Bank's Debtor Reporting System (DRS).
GDF Volume II Website
IDA14 Result Management System
This new website includes outcome indicators based on the Millennium Development Goals and on countries' own poverty reduction and development objectives. It will monitor development progress and link outcomes to IDA country programs and projects, enabling better assessment of how both countries and IDA are doing.
IDA14 RMS Website
Marrakech Action Plan for StatisticsMarrakech Action Plan for Statistics is a global plan for improving development statistics agreed at the Second Roundtable for Managing for Development Results held in February 2004.MAPS Website
Marrakech Action Plan for StatisticsInternational Comparison ProgramInternationally comparable data are crucial to forming sustainable policies and monitoring progress. Purchasing Power Parities account for price differences between countries and so measure real quantities.
ICP Website
Millennium Development Goals
The Millennium Development Goalsset targets for reductions in poverty, improvements in health and education and protection of the environment. Updated with WDI 2005 data and an interactive charting tool to compare and track progress.
MDG Website
Statistical Capacity Building The World Bank offers technical assistance to member countries in need to create an adequate statistical base for the analysis of economic, financial and social developments necessary to guide policy making.
World Development Indicators (WDI) publication is the World Bank's premier annual compilation of data about development. The 2007 WDI includes more than 900 indicators in over 80 tables organized in 6 sections: World View, People, Environment, Economy, States and Markets, and Global LinksAtlas of the Millennium Development GoalsThe new Online Atlas of the MDGs is an innovative visualization of the Millennium Development Goals that complements the World Bank's MDG website. It explore maps of key indicators for each of the eight MDG goals, resizes countries to reflect comparative values, and pulls up quick tables of supporting indicators. The Online Atlas is also available in French and Spanish.
Global Development Finance - Summary and Country TablesGlobal Development Finance, Volume II: Summary and Country Tables (GDF) is the sole repository for statistics on the external debt of developing countries on a loan-by-loan basis. This new GDF website presents reported or estimated data on total external debt for the 135 low-and middle-income countries that report to the World Bank's Debtor Reporting System (DRS).
GDF Volume II Website
IDA14 Result Management System
This new website includes outcome indicators based on the Millennium Development Goals and on countries' own poverty reduction and development objectives. It will monitor development progress and link outcomes to IDA country programs and projects, enabling better assessment of how both countries and IDA are doing.
IDA14 RMS Website
Marrakech Action Plan for StatisticsMarrakech Action Plan for Statistics is a global plan for improving development statistics agreed at the Second Roundtable for Managing for Development Results held in February 2004.MAPS Website
Marrakech Action Plan for StatisticsInternational Comparison ProgramInternationally comparable data are crucial to forming sustainable policies and monitoring progress. Purchasing Power Parities account for price differences between countries and so measure real quantities.
ICP Website
Millennium Development Goals
The Millennium Development Goalsset targets for reductions in poverty, improvements in health and education and protection of the environment. Updated with WDI 2005 data and an interactive charting tool to compare and track progress.
MDG Website
Statistical Capacity Building The World Bank offers technical assistance to member countries in need to create an adequate statistical base for the analysis of economic, financial and social developments necessary to guide policy making.
Latest Loans Articles
Latest Loans Articles
Debt collection scams milk Britons out of millionsHave you noticed that everyone is in debt now? No one is admitting it, but economic reports suggest that everyone falls behind on one or two payments. For those of us who fall behind regularly, or who run into a bad stretch, we not only need to watch out for the bailiffs, we also need to protect ourselves from the debt collection scammers. Most of us would never admit that we paid a company called us from Russia and threatened terrible consequences if we didn’t pay a £500 debt that was incurred in our name. However, the truth is, thousands .... Read MoreApril 19 ,2007
Haggle on car prices to save millionsFailure to haggle on new car prices could cost British motorists more than £611 million, says research from Sainsbury's Bank. On average, a car purchaser could save £1,585 on the price of a new car, however up to 386,000 people who plan to buy a new car in the period to August 2007 will not haggle over the price. A further 423,000 could also overpay for their new card because they will only haggle slightly over the price. Only 55 per cent of new car purchasers plan to haggle aggressively. Shopping around for a loan could also save money, as .... Read MoreApril 13 ,2007
Debt collection scams milk Britons out of millionsHave you noticed that everyone is in debt now? No one is admitting it, but economic reports suggest that everyone falls behind on one or two payments. For those of us who fall behind regularly, or who run into a bad stretch, we not only need to watch out for the bailiffs, we also need to protect ourselves from the debt collection scammers. Most of us would never admit that we paid a company called us from Russia and threatened terrible consequences if we didn’t pay a £500 debt that was incurred in our name. However, the truth is, thousands .... Read MoreApril 19 ,2007
Haggle on car prices to save millionsFailure to haggle on new car prices could cost British motorists more than £611 million, says research from Sainsbury's Bank. On average, a car purchaser could save £1,585 on the price of a new car, however up to 386,000 people who plan to buy a new car in the period to August 2007 will not haggle over the price. A further 423,000 could also overpay for their new card because they will only haggle slightly over the price. Only 55 per cent of new car purchasers plan to haggle aggressively. Shopping around for a loan could also save money, as .... Read MoreApril 13 ,2007
Credit and Debit Card Blocking
Credit and Debit Card Blocking
Have you ever been told you were over your credit card limit, or had your debit card declined, even though you knew you had available credit, or money in your bank account? If this happened shortly after you stayed in a hotel or rented a car, the problem could have been card "blocking."
What's Blocking?
When you use a credit or debit card to check into a hotel or rent a car, the clerk usually contacts the company that issued your card to give an estimated total. If the transaction is approved, your available credit (credit card) or the balance in your bank account (debit card) is reduced by this amount. That's a "block." Some companies also call this placing a "hold" on those amounts.
Here's how it works: Suppose you use a credit or debit card when you check into a $100-a-night hotel for five nights. At least $500 would likely be blocked. In addition, hotels and rental car companies often add anticipated charges for "incidentals" like food, beverages, or gasoline to the blocked amount. These incidental amounts can vary widely among merchants.
If you pay your bill with the same card you used when you checked in, the final charge on your credit card, or final amount on your debit card, probably will replace the block in a day or two. However, if you pay your bill with a different card, or with cash or a check, the company that issued the card you used at check-in might hold the block for up to 15 days after you've checked out. That's because they weren't notified of the final payment and didn't know you paid another way.
Why Blocking Can Be a Problem
Blocking is used to make sure you don't exceed your credit line (credit card) or overdraw your bank account (debit card) before checking out of a hotel or returning a rental car, leaving the merchant unpaid. Blocking is sometimes also used by restaurants for anticipated sizeable bills (like large groups at dinner or a party), by companies cleaning your home, and other businesses to ensure credit or account money will be available to complete payment.
If you're nowhere near your credit limit or don't have a low balance in your bank account, blocking probably won't be a problem. But if you're reaching that point, be careful. Not only can it be embarrassing to have your card declined, it also can be inconvenient, especially if you have an emergency purchase and insufficient credit or money in your bank account. On debit cards, depending on the balance in your bank account, blocking could lead to charges for insufficient funds while the block remains in place.
How to Avoid Blocking
To avoid the aggravation that blocking can cause, follow these tips:
When you check into a hotel or rent a car - or if a restaurant or other business asks for your card in advance of service - ask if the company is "blocking," how much will be blocked, how the amount is determined, and how long the block remains in place.
Consider paying hotel, motel, rental car, or other "blocked" bills with the same credit or debit card you used at the beginning of the transaction. Ask the clerk when the prior block will be removed.
If you pay with a different card, by cash, or by check, remind the clerk you're using a different form of payment and ask them to remove the prior block promptly.
Ask your current debit card issuer if they permit blocks, for how long, and from what types of merchants. If they do, you may want to consider getting an overdraft line of credit from your bank. Ask about a plan that always automatically covers the overdraft and does not involve a separate bank decision on whether or not to pay it each time. Although you might incur some interest on this plan if you don't pay off the amount fairly quickly, you would not have an overdraft that is not paid. Ask your bank if they offer an overdraft line of credit, how it would work, and how much it costs.
In addition, if you are considering a credit or debit card, shop around. When comparing credit and debit card offers, ask issuers if they permit blocks, for how long, and from what types of merchants. You may want to consider an issuer that uses shorter blocks.
Have you ever been told you were over your credit card limit, or had your debit card declined, even though you knew you had available credit, or money in your bank account? If this happened shortly after you stayed in a hotel or rented a car, the problem could have been card "blocking."
What's Blocking?
When you use a credit or debit card to check into a hotel or rent a car, the clerk usually contacts the company that issued your card to give an estimated total. If the transaction is approved, your available credit (credit card) or the balance in your bank account (debit card) is reduced by this amount. That's a "block." Some companies also call this placing a "hold" on those amounts.
Here's how it works: Suppose you use a credit or debit card when you check into a $100-a-night hotel for five nights. At least $500 would likely be blocked. In addition, hotels and rental car companies often add anticipated charges for "incidentals" like food, beverages, or gasoline to the blocked amount. These incidental amounts can vary widely among merchants.
If you pay your bill with the same card you used when you checked in, the final charge on your credit card, or final amount on your debit card, probably will replace the block in a day or two. However, if you pay your bill with a different card, or with cash or a check, the company that issued the card you used at check-in might hold the block for up to 15 days after you've checked out. That's because they weren't notified of the final payment and didn't know you paid another way.
Why Blocking Can Be a Problem
Blocking is used to make sure you don't exceed your credit line (credit card) or overdraw your bank account (debit card) before checking out of a hotel or returning a rental car, leaving the merchant unpaid. Blocking is sometimes also used by restaurants for anticipated sizeable bills (like large groups at dinner or a party), by companies cleaning your home, and other businesses to ensure credit or account money will be available to complete payment.
If you're nowhere near your credit limit or don't have a low balance in your bank account, blocking probably won't be a problem. But if you're reaching that point, be careful. Not only can it be embarrassing to have your card declined, it also can be inconvenient, especially if you have an emergency purchase and insufficient credit or money in your bank account. On debit cards, depending on the balance in your bank account, blocking could lead to charges for insufficient funds while the block remains in place.
How to Avoid Blocking
To avoid the aggravation that blocking can cause, follow these tips:
When you check into a hotel or rent a car - or if a restaurant or other business asks for your card in advance of service - ask if the company is "blocking," how much will be blocked, how the amount is determined, and how long the block remains in place.
Consider paying hotel, motel, rental car, or other "blocked" bills with the same credit or debit card you used at the beginning of the transaction. Ask the clerk when the prior block will be removed.
If you pay with a different card, by cash, or by check, remind the clerk you're using a different form of payment and ask them to remove the prior block promptly.
Ask your current debit card issuer if they permit blocks, for how long, and from what types of merchants. If they do, you may want to consider getting an overdraft line of credit from your bank. Ask about a plan that always automatically covers the overdraft and does not involve a separate bank decision on whether or not to pay it each time. Although you might incur some interest on this plan if you don't pay off the amount fairly quickly, you would not have an overdraft that is not paid. Ask your bank if they offer an overdraft line of credit, how it would work, and how much it costs.
In addition, if you are considering a credit or debit card, shop around. When comparing credit and debit card offers, ask issuers if they permit blocks, for how long, and from what types of merchants. You may want to consider an issuer that uses shorter blocks.
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