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Old November 8th, 2012, 08:26   #1
Blackthorne
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Visa Debit vs INTERAC Online

There seems to be some confusion for folks these days due to new online payment options available from our banks. I wanted to post this here to let people know the differences surrounding some of these new payment options.

Visa Debit/Debit Mastercard - These are card numbers issued by your bank and the credit card company that function online like a credit card number. The main difference being the cash comes from your bank account rather than a credit find like a regular credit card. These can be used online like a regular credit card, and allow folks who don't want credit to be able to purchase things and services online.

INTERAC Online - this is a Canadian only service that allows you to use your bank issued debit (ATM) card to pay for things and services online. Its from the same company that does INTERAC Email Money transfers (EMTs) that are so popular here on ASC. Strangely, CIBC does not participate in this service.

You do not choose INTERAC Online when using your Visa Debit/Debit Mastercard.
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Last edited by Blackthorne; November 8th, 2012 at 09:32..
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Old November 8th, 2012, 09:24   #2
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Using visa debit also comes with a usage charge that is 3% or less.

Use regular debit whenever possible.
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Old November 8th, 2012, 10:23   #3
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I have visa debit and there is no usage charge to me or the vendor above what they normally pay for debit, they enter it as debit not credit.
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Old November 8th, 2012, 15:07   #4
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strange cibc doesnt offer it, I use PC financial which uses cibc and they offer it
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Old November 24th, 2012, 10:33   #5
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strange cibc doesnt offer it, I use PC financial which uses cibc and they offer it
CIBC was the first to offer it


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Old November 24th, 2012, 11:09   #6
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We've been using Visa Debit cards for some time now in the States, Canada has been reluctant to change over due to a higher risk of fraud associated with using a Debit/Credit card, since you don't really need anymore info other than the card number, expiration date and the CSS code in the back of the card.

If I use my Visa Debit card in Canada I have to tell them Credit otherwise the charge wont go through
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Old November 24th, 2012, 12:05   #7
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Canada has been reluctant to use debit? Are you kidding? Canada has been using the Interac debit system long before Visa Debit came along. Maybe Canadians are reluctant to use Visa Debit because we already have a well established debit system.

Debit fraud happens just like credit fraud, and the result is the same - reimbursement and improvement of security (i.e. chip cards).
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Old November 24th, 2012, 13:15   #8
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Canada is the most Debit based country I have ever seen. Not having enough change to buy a cup of coffee cause all you have is your debt card is a very common thing here.

In the US, many places still only accept credit cards and no debit, which is why Visa Debt etc is being pushed down there. As it works on regular credit card only machines, because its really just a credit card that automatically tries to withdraw from your bank account instead of waiting for the bill to come to your home and you paying it.

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Old November 24th, 2012, 14:46   #9
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Wait a tic. Email Money Transfer? Whoah now, I think I heard of this. It must be a brand new thing because my bank just got it THIS week!!

Oh wait, I forgot, I bank at ATB Financial. The handicapped step-child of the banking industry. Always a few grades behind everyone else their age.....
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Old November 24th, 2012, 19:51   #10
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Quote:
Originally Posted by DustMagnet View Post
Canada has been reluctant to use debit? Are you kidding? Canada has been using the Interac debit system long before Visa Debit came along. Maybe Canadians are reluctant to use Visa Debit because we already have a well established debit system.

Debit fraud happens just like credit fraud, and the result is the same - reimbursement and improvement of security (i.e. chip cards).
Reluctant to use Debit cards that double as Credit cards, from what I've seen in Ontario, Quebec, and New Brunswick
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Old November 24th, 2012, 19:56   #11
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Oh wait, I forgot, I bank at ATB Financial. The handicapped step-child of the banking industry. Always a few grades behind everyone else their age.....
Don't worry, Desjardins doesn't support it either. Well, we can receive money (with a 4$ fee per transaction), but we can't send anything.
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Old November 24th, 2012, 20:02   #12
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Reluctant to use Debit cards that double as Credit cards, from what I've seen in Ontario, Quebec, and New Brunswick
I would not say Reluctant, more like not informed. I didn't have a sweet clue these even existed.
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Old November 24th, 2012, 21:30   #13
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I would not say Reluctant, more like not informed. I didn't have a sweet clue these even existed.
That too I suppose
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Old November 24th, 2012, 21:54   #14
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Reluctant to use Debit cards that double as Credit cards, from what I've seen in Ontario, Quebec, and New Brunswick
Hmm, I use two different institutions for credit and debit services, so I don't know if that would even work.
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Old November 25th, 2012, 02:28   #15
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the debit credit cards are going through changes in canada in parliament right now to make the fine print and hidden fews not so hidden...
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