Many of you have heard about the unprecedented expansion of the Avalon Waterways fleet of luxury river cruise ships in the last years (you can see in the list below there's at least one new ship each year), but not so many know why this is so. The reason for the great number of new build ships is the Globus company.
A signature-based debit card transaction is cheaper for retailers than a pin-based transaction, which occurs online. Credit card and signature-based debit card transactions are processed in similar manners. Signature-based debit card transactions can be processed over the phone and on the Internet. No pin number is required for these transactions. These transactions are convenient for people that donât have access to a credit card.
-- Debit cards make banks a lot of money. When you use the card like a credit card (with a signature, but not with a PIN), banks take a hefty fee from the merchant. When you use it with a PIN, like an ATM card, more and more banks are charging you a transaction fee (called a POS fee) of $0.25-$1. Other banks are charging a monthly card rental fee (even if you do not use it at all) of $1-2/month. That adds up to $12-24/year, plus transaction fees.