Scotia Visa Debit - Launch Date - Aug 26, 2011!

[PcWiz]

I can't find any info that speaks on rates and charges

[Anubis]

what i dont understand is how dem sending this to ppl who didnt even apply for it..

i dunno how dat work..

Well its not like its a credit card that has monthly and or annual charges so it would not be a burden to you just getting one.

LOOOOL...dude....you didn't even edit to photo? your address and name is in there lool...even your number.......

I removed what he thought was more impotant "the card pin"

I can't find any info that speaks on rates and charges

Its a debit card there should be no rates and charges.

[marlonxp]

Its a debit card there should be no rates and charges.

There has to be a charge as it relates to per transaction fee or however they choose to do it, Their ABM/ATM card has transaction charges doubt the visa debit would be any different.

I was sooooo excited i forgot to edit the pic fully

So boss? u na remove the pic with your full name address and phone number?

[don_corleone]

Its a debit card there should be no rates and charges.

you are clearly not a scotia bank user..lol

[Flexx17]

lol ma bro n i went into scotia thursday gone n one a the CSRs just told us to come get one next friday or monday lol......i jus hope dem live up to the hype

[psilos]

There has to be a charge as it relates to per transaction fee or however they choose to do it, Their ABM/ATM card has transaction charges doubt the visa debit would be any different.

Yes there is a transaction fee but you aren't the one that is paying it, that responsibility falls on the merchant. It is a Visa debit card which means that it uses Visa's authorisation system just like a Visa credit card with the only difference being that the money is taken from your account instantly instead of you "borrowing" from the bank and paying the credit card bill at the end of the month.

Just as you are not charged extra by a merchant to use a credit card, the same will go for these Visa debit cards. Merchants however pay a percentage on every transaction to the bank anywhere between 1-5% which is why some places do not accept credit cards.

Hope that lesson helps. By the way, the reason you are charged for a regular debit card is because it uses an external system called Multilink so the banks have to pay to be connected to that network and they pass the charges onto you the consumer. You would also think that you aren't using Multilink when you use your bank's ATM which may be true, however they then charge you to help maintain the ATM network (light, data connectivity, back-office staff, etc.) Our local banks do nothing for free.

[RickyRudy]

Nothing at all is free. Nothing more needs to be said about that but we're hoping for the illusions of freeness Lol.

[littleshotta]

As it stands, right now the card have problems. I would tell people not to activate them until all the issues with it has been ironed out. On another note, the card is ugly to say the least, scotia could have embossed the numbers, that cheap material will wear off soon or later. My understanding is that the card can only be used as a creditcard online (There is a print that says "For Electronic Use Only"). Won't work at the POS as a creditcard unless the merchant is with scotia.

[danthony]

the card was launched earlier but was in the testing phase so only staff had it. they were basically fine tuning to make sure everything was ok

[littleshotta]

I know that only staff have it, why you think I can speak about it with such confidence. I've tested it first hand and know that the most of the customers will have problems. Also, I think there should have been a general education campain by scotia. My understanding is that they are phasing out the old regular debit cards and using the visa debit exclusively. From the onset I see alot of problems with that. Persons need to be educated about keep these cards safe, plus it opens pandora's box when it comes to card skimming.