Solo v Electron

"DP" wrote

DP - You seem to infer that customer's funds are not taken at "POS" with credit cards (because customer pays later). You therefore say that credit cards are *not* eftpos cards.

Do you therefore also class someone using a *debit* card on a "bank" account (ie not credit card) which happens to be overdrawn (within limit) - which will just go further overdrawn, but still within limit - the same way as a credit card?

Ie would you say that a debit card is an eftpos card only *if* the account happens to be in credit, but *not* an eftpos card if it happens to be overdrawn?

Without a hint of irony, "Tim" astounded uk.finance on 06 Feb 2004 by announcing:

And is it an EFTPOS card if the merchant is using APACS 30, where the authorisation is just that and the funds aren't transferred at all until sometime after the APACS 29b log is sent via APACS 50?

Without a hint of irony, john boyle astounded uk.finance on 06 Feb 2004 by announcing:

No, they are not. Charge cards and credit cards are entirely seperate under law and practice.

In message , Alex writes

I take your point to some extent about 'charge cards' especially of the petrol variety. But not 'charge cards' of the variety that you use as though they were credit cards expect you have to pay the whole amount on presentation of the invoice without the ability to pay on the drip.

Indeed, as your definitions say, eftpos cards take money straight from the customers bank account. I will leave it to you to find out how a credit card works.

As to credit cards accounts being the same as bank current accounts, there are similarities but if you think they are the same I look forward to reading your authoritative definitions of financial terms when you publish them on the web.

But they are all plastic cards with nice pictures on them.

Without a hint of irony, john boyle astounded uk.finance on 06 Feb 2004 by announcing:

Well the Consumer Credit Act, OFT, and presumably every credit industry professional disagree with you.

A small selection of links for you, some more authoritative than others:

In message , DP writes

No need, I already know.

No need, for the purposes of the EFTPOS definition my sources are sufficient.

In message , DP writes

For once we agree!

Without a hint of irony, Alex astounded uk.finance on 06 Feb 2004 by announcing:

And finally

In message , Alex writes

No. The CCA makes no distinction.

No, the OFT agrees with me.

No. You appear to, but you are the only one afaiaa, but then I dont know if you are a credit industry professional.

What is the point you are trying to make?

Without a hint of irony, john boyle astounded uk.finance on 07 Feb 2004 by announcing:

I suggest you read it again.

The point is that you are ignoring Section 75 of the CCA which gives you the distinction *IN LAW* between credit cards and charge cards. If you still cannot see this, I recommend a good optician. There's really not much more to be said on this matter.

In message , Alex writes

Ah, I take your point now, even though I dont think its relevant to any point in this thread.

The site belongs to me and it is for sale. Any monkey who visited the site could tell this. There is nothing fake about it.