Banks are digital these days, right?
What Neelie did for phone calls, is there any chance this pair could do for banks? I'm constantly peeved at paying a 2.75% foreign exchange fee just for the courtesy of using my bank card in a different country.
It’s going to take two men to do one woman’s job at the new European Commission. The new line-up was announced on Wednesday following weeks of speculation and horse-trading of the sort that usually accompanies football transfers. President-elect Jean-Claude Juncker has decided to create two Digital roles to replace the current …
Agree with this absolutely and would go further to say that there should be a maximum fee of 0.5% for foreign exchange / using cash machines abroad; and let the banks whinge away. If they can't do it for that amount then they should be made to get out of the market and allow in someone who can.
I'm all in favour for improved bank regulation.
However, if you are being charged a 2.75% foreign exchange fee for using your bank card abroad, it sounds like you've got a rubbish* [debit?] card. I can use my credit card in any shop abroad that accepts cards without any such fee (and without a hidden load on the exchange rate).
Granted, I wouldn't dream of using any credit card to withdraw money from an ATM anywhere in the world. If I need foreign cash, I shop around before leaving the country.
* While there are plenty of rubbish cards available, there are a few that are much, much better.
If you lived in a Euro country it would be free (well at least in all the other Euro countries). I've got to say it's nice using my card on holiday in France or Spain and it's just the same as where I'm currently living. I can get cash out with my cash card, again no charge.
I know, I know UKIP people don't like this kind of thing being mentioned.... but there you go, the world isn't flat either.
Yes that would work, if you only visit one country. If you visit say 3 countries, you would need 3 local SIMs. More countries, more SIMs. Whereas a decent credit card covers most countries of the world (not counting North Korea, Zimbabwe,.., or countries with a cash economy). You can still use at home, which I do. Unless you got another credit card for better cashback.
As I stated initially though, I'm not against further banking regulations. Based on how the banks in the UK have behaved since the mid-80s, no amount of banking regulation could be deemed to be too much or too harsh.. :-P
I just love how they come up with these figures and expect people to actually believe them. So a single Digital market will generate €250billion will it? Where from and what will it have to replace and how much will that cost?
I could see it having a value in that ballpark but this would not be new money, just existing value re-assigned.
Biting the hand that feeds IT © 1998–2020