Quote:
Originally Posted by NewfBC
If Translink were to start doing this, they would most definitely stop accepting credit cards to allow you to load your Compass Card.. they won't 'eat' the charge. Places I've been where you can use your transit card to pay for items only accept cash to load the cards.
Ron.
|
Just to add my 2 cents to this so we don't get people thinking the wrong thing.
It's against the credit card company polices, and violates anti-money laundering laws to pay credit with credit. Hence why you MUST be charged a fee if you're buying prepaid credit/debit cards, and you usually can only buy those with debit or cash. You are also usually charged interest immediately since it's technically a cash advance. (US debit cards which operate on the credit card network, actually use "cash advance" as the way to debit the account. Interac does not.)
This is also why you can't get refunded to your credit card more than the original purchase. To do otherwise triggers anti-money laundering watchdogs.
THAT is why you see people with grocery bags full of cash on those surveillance videos at the casino. If we had IC cards that could store more than $200 on it, you'd see them using those cards and reloading them instead, since you could dump cash onto the cards and then trade the cards. Vending machines draw much less scrutiny than a cashier.
To that end, technology has changed and a lot of it is about control now. So your card mostly only operates as an ID token in the system. The stored value is entirely informative, and doesn't substitute for the centrally stored value.