Comments on: PIN vs. Signature Based Debit Transactions http://www.thesunsfinancialdiary.com/personal-finance/pin-signature-based-debit-transactions/ Fri, 03 Feb 2012 17:42:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Shawn Levasseurhttp://www.thesunsfinancialdiary.com/personal-finance/pin-signature-based-debit-transactions/#comment-54735 Shawn Levasseur Tue, 31 Mar 2009 20:56:58 +0000 http://www.thesunsfinancialdiary.com/?p=3827#comment-54735 These days, smaller transactions don't require any signature or PIN, just swipe, get approval, and go. Some places that do this have thresholds from $5 to $25 dollars. I suspect that these transactions are treated as if they were signature transactions (Credit Card networks), and not PIN transactions (ATM networks).This has made the act of taking plastic in places where speed of service is a big deal (Fast Food drive-thrus, express checkouts at groceries) a practicality. These days, smaller transactions don’t require any signature or PIN, just swipe, get approval, and go. Some places that do this have thresholds from $5 to $25 dollars. I suspect that these transactions are treated as if they were signature transactions (Credit Card networks), and not PIN transactions (ATM networks).

This has made the act of taking plastic in places where speed of service is a big deal (Fast Food drive-thrus, express checkouts at groceries) a practicality.

]]> By: frugal livinghttp://www.thesunsfinancialdiary.com/personal-finance/pin-signature-based-debit-transactions/#comment-54081 frugal living Tue, 24 Mar 2009 06:46:15 +0000 http://www.thesunsfinancialdiary.com/?p=3827#comment-54081 I was told that all debit card transactions are either PIN based or Signature based transactions: I went to my local gas station, bought gas and soft drinks. At the cash register I swiped my new debit card. Nothing on the screen asked for a PIN number, nor did it ask for a signature. I was told that all debit card transactions are either PIN based or Signature based transactions:
I went to my local gas station, bought gas and soft drinks. At the cash register I swiped my new debit card. Nothing on the screen asked for a PIN number, nor did it ask for a signature.

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