jetcareers - View Single Post

danielsexton · August 16th, 2004, 12:52

Right, that gets broken up (not evenly) between

1. Merchants bank/processor
2. Visa/MC/Disc/Amex
3. Your Bank

So, using your debit card if you bought $150 worth of grocerys (and slected credit) at 1.5% there is $2.25 to be divided between all 3 companys.

Debit transactions with a pin # average .25 to .45 (a flat rate not a percentage) per transaction. So you can see why the bank would rather you select credit. Think of a bank like BofA with millions of debit cards with millions of transactions worth millions of dollars each day, which would you rather earn a percentage or flat rate?

August 16th, 2004, 12:52	#20
danielsexton Junior Member Join Date: Feb 2004 Location: CSG Posts: 186	Re: USAIR and Freq. Flyer Right, that gets broken up (not evenly) between 1. Merchants bank/processor 2. Visa/MC/Disc/Amex 3. Your Bank So, using your debit card if you bought $150 worth of grocerys (and slected credit) at 1.5% there is $2.25 to be divided between all 3 companys. Debit transactions with a pin # average .25 to .45 (a flat rate not a percentage) per transaction. So you can see why the bank would rather you select credit. Think of a bank like BofA with millions of debit cards with millions of transactions worth millions of dollars each day, which would you rather earn a percentage or flat rate?