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Email this6:15 pm
December 17, 2016
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Mary said
Yes I realize that we probably will see the end of cash and cheques in our life time but we must realize that this one and that one is going to cost us.
Mary, it's costing us anyway. In my case, I've gone cashless (well, 98% cashless) and I ain't looking back.
6:34 pm
February 27, 2018
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Top It Up.... being broke and cashless, are they the same thing?
6:38 pm
December 17, 2016
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kidd - that's the beautiful thing about the English language, ain't it?
6:47 pm
March 21, 2018
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Just on the news tonight. Cash...Cashless all ok. But do you realize what the payment type APPS and others are your smart phones are doing to your privacy... the Starbucks app is taking full access to your contacts....to buy a cup of coffee??
6:58 pm
December 17, 2016
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Mary, I just use Apple Pay and chip & PIN when I have to. I don't use superfluous Apps, like Starbucks, to make my purchase - I just Tap my phone and I'm done with them. Right now, for me, Apple Pay is the most secure form of payment for protection of my identity to the merchant and most secure way to make the payment, period.
All else, everyone needs to shoulder responsibility for their own personal privacy.
10:09 pm
October 21, 2013
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Cash is the perfect instrument for protecting your privacy.
For everyday expenses, it's quite viable, and very welcome by retailers who would like to avoid the fees charged to them by Visa and MC.
Much as I like 2% cashback etc., I can't forget that we are paying for it at the till. It's in one pocket and out the other.
Cash may even experience a comeback!
12:41 am
February 17, 2013
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Top It Up said
With all the on-going chatter about wanting / needing a CC with NO Fx transaction fees - I'm curious what the seeker of those same cards averages in yearly Fx spending in Canadian equivalent - I'm guessing the average amount is pretty paltry.
A quicken report says I spent 6,833.62 Cdn in 2017. That's 170.84 I saved in ForEx fees, and another 68.34 in cashback rewards for using it. I prefer to look at it as a bonus 1% discount on the exchange rate. I guess some would consider that paltry.
This year, so far, we're up to 1982.17 ... not counting the cash used that I bought when the dollar was at or above par.
6:32 am
December 17, 2016
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Rick said
I guess some would consider that paltry.
NOPE, that's not paltry at all - doesn't take long to chew through holiday dollars in the US or off the continent. But I keep wondering where the US/CDN cross-border savings are @ 1 United States Dollar = 1.293571 Canadian Dollar.
You're only allowed $800 per year duty free with time away limits and with respect to groceries, NOT everything is duty free.
Certainly it can be "dangerous" to your wallet ordering online from the US if you have to return the item - you pay the bank SELL rate to make the purchase BUT only receive the bank BUY rate on the refund.
Not being a cross-border shopper I guess I'm missing something.
7:59 am
December 17, 2016
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Cash may even experience a comeback!
HUH!
Countries Leading The World In Cashless Transactions
Coming out on top is Canada, where an estimated 57% of transactions are cashless, making it the dominant way of paying.
https://www.worldatlas.com/articles/which-are-the-world-s-most-cashless-countries.html
12:19 pm
October 21, 2013
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It would be naive to assume that any trend will necessarily continue indefinitely.
Trends can and do change when they are found to be problematic.
It's very clear that there are lots of security risks with electronic funds, and these require constant vigilance. Maybe they'll be controlled, and maybe they won't.
Hacking can be used to disrupt an entire country, and banking is an important piece of keeping a country stable.
We're seeing this now with the Russian problem.
If a hostile force can bring a country down without risking a single soldier or buying a single plane, why wouldn't they?
The likelihood is, in my view, that these problems will become more damaging in future. We might just findthat cash stashed under the mattress handy. Likewise the old typewriter in the closet...
On a more immediate note, it seems to me that a credit card whose PIN can't be changed and which gives the same number to two people is not the most advanced. I remember a much earlier generation of credit cards which had the same design, maybe 20 years ago.
12:31 pm
February 17, 2013
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Top It Up said
Rick said
I guess some would consider that paltry.
NOPE, that's not paltry at all - doesn't take long to chew through holiday dollars in the US or off the continent. But I keep wondering where the US/CDN cross-border savings are @ 1 United States Dollar = 1.293571 Canadian Dollar.
Well...yes, there is the exchange rate to factor in, and there is a definitely a difference in the amount I spend since Poloz took over and the dollar went down, but when prices are 50 to 75% less than prices in Canada, there are still many savings to be had. Factor in the cash I converted when the buck was above par and the difference is dollar for dollar ...ie - par. Gas in Vancouver area is currently 1.50 /liter or more...WA State worked out to 95 cents per liter WITH exchange rate factored in. Milk, cheese, eggs, butter all less than half price. The 3 dollar can of Stag chili, just 1 example, is 1.25 in Bellingham. They have brands and offerings that aren't even available in Canada.
Top It Up said
Certainly it can be "dangerous" to your wallet ordering online from the US if you have to return the item - you pay the bank SELL rate to make the purchase BUT only receive the bank BUY rate on the refund.
Works both ways...I've made money when the dollar went down as well. Also..if you have to return something, you can usually get a gift card instead of a credit card credit. I also have a post box in WA. Cost is recouped on the crazy postage they charge to ship to Canada...if they even ship to Canada at all (Yes, we do a lot of online shopping). My daughters birthday present was 90 in Canada or 49 US with free shipping .
Top It Up said
You're only allowed $800 per year duty free with time away limits and with respect to groceries, NOT everything is duty free.
Not being a cross-border shopper I guess I'm missing something.
The reality is they don't really enforce those limits for land crossings. They would literally have to pull over EVERY car at the border to collect a few dollars. Just staffing alone would be prohibitive. As long as you are reasonable, so are they. You are ALWAYS subject to being pulled over and charged duty and taxes, but if I bring back 6 beer or a single bottle of wine, I have never had to pay duty on it. They are concerned about large ticket items, allowance of liquor or cigarettes, and certain food products. I believe the limit is 800 per trip, not per year, could be wrong, never been close to that. I have driven up, declared 450.00 worth of "food and merchandise including a bottle of wine", and been waved thru with a friendly farewell. I have been pulled over to pay duty 3 or 4 times in the last ten years. Once because the border guard was in an obviously foul mood, the rest was because of going over the limit on liquor. BTW...it was STILL cheaper after paying fees than I could have got it for in Canada.
Personally, I don't really want to have to drive half an hour and cross the border twice to save money in a foreign country. I would , by far, rather spend my money in Canada and support our economy, but the savings are just too significant to ignore. Last trip when the US border guard asked the purpose of our trip, I said "we're coming down to spend our hard earned cash and support your economy." He said "God Bless you" and waved us through.
Side note....NO ONE in WA accepts tap yet. Why I didn't notice nor care why the HT Visa doesn't support tap.
11:51 am
April 6, 2013
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Loonie said
…
On a more immediate note, it seems to me that a credit card whose PIN can't be changed and which gives the same number to two people is not the most advanced. I remember a much earlier generation of credit cards which had the same design, maybe 20 years ago.
Some cardholders reported that the Home Trust Preferred Visa has a daily limit of 10 transactions: 
RateHub Review: Home Trust Preferred Visa
GreedyRate$.ca: The Home Trust Preferred Visa Review
This is what one GreedyRates.ca member wrote:
Len | February 18, 2018 at 10:53 pm
…
Another disadvantage of hometrust is 10 transactions per day. For example, if you and your sig other buy 5 separate coffees in a day (ie 10 separate transactions), you can’t use the card till the next day. Dollar amounts don’t matter (within your credit limit of course).…
12:16 pm
December 17, 2016
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From the RateHub link provided about
"Currently there is no TAP payment option, but this shouldn’t be a big issue since TAP is not a big feature outside of Canada."
Maybe not in the USA, yet, BUT contactless pay POS terminals are EVERYWHERE in Canada and Europe - from Mom and Pop stores to taxi cabs, to train and tram ticket machines, to restaurants, coffee shops, and bars - they are EVERYWHERE in Europe. Out of the 90 or so credit card transactions for a month in Europe I only had to use the PIN number 4 times (hotel bills) the rest were Apple Pay.
2:27 pm
October 21, 2013
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I'm starting to think I'm glad I never applied for this one!
2:57 pm
October 27, 2013
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No more Android Pay.... it's all been folded into Google Pay. I have yet to engage with these kinds of services but I suspect I will activate Google Pay to use it where I can do so. Just need to decide whether it is my personal CC or our joint CC for the charges to go too.
Don't think I need Samsung Pay even if is there on my Galaxy.
Added: All of the major credit cards, especially non-affinity cards, appear to accept any of the Mobile Wallet apps, e.g. Google Pay, Samsung Pay, Apple Pay, etc.
2:59 pm
December 17, 2016
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December 17, 2016
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AltaRed said
Added: All of the major credit cards, especially non-affinity cards, appear to accept any of the Mobile Wallet apps, e.g. Google Pay, Samsung Pay, Apple Pay, etc.
Actually, it's the other way around - you load the bank-issued cards on to the Pay App of your choice. You can only add CIBC issued credit/debit cards through CIBC, RBC issued credit/debit cards through RBC, etc. They'll all be resident on the SAME single pay App of your choice.
Just for the record you can only use Apple Pay on an Apple product, only use Samsung Pay on a Samsung product, and it looks like you can load Google Pay across multiple platforms.
10:42 am
April 6, 2013
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Loonie said
I'm starting to think I'm glad I never applied for this one!
The Home Trust Preferred Visa does have its pluses and minuses.
Not sure having the same card number on both primary and supplementary cards is an actual issue. The visible card number is the same. But, the cards are not identical.
One RedFlagDeals.com poster reported that both cards arrived in separate envelopes. PIN's arrived separately and they are not the same for the two cards. I presume the cardholder name on the two cards is also different.
The different PIN's suggest that Home Trust can tell the difference between the two cards and could potentially cancel one, without cancelling the other, should one be lost.
3:17 pm
October 21, 2013
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..."potentially".
I suppose that's actually possible. Since they don't allow tap, you would need to put in the PIN every time. Probably the3-digit number on the back of the cards is also different -which is used for online shopping. The lack of tap and individual PINs probably fit together.
9:51 am
March 21, 2018
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All numbers on front and back are the same. Only thing that is different is the name. BUT the PIN numbers are different.....so what makes each card unique? Maybe both PIN numbers work on each card?
I did call them and asked if a card was used at a fraudulent retailer and was denied and then flagged as an unusable card would the second card still be usable. The response was NO (I meant)..both cards would be unusable. A credit card using archaic methods. Thus my lack of trust.
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