Do you think ATMs are dying?

[froggyboy604]

The law doesn't require ID giftcards cards such as Google, Apple, Amazon because you can't actually withdraw the value of it. You can't turn it into cash or use it to other things. While prepaid Visa/Mastercard allows you to insert it to Automated teller machine and withdraw funds. Verification is optional but being verified offers great advantage, like you are protected by the law, withdraw cash, use on machine. Being not verified, you can only put money on it and spend it.

Thanks for the explanation.

I originally thought ID is needed to prevent criminals from using prepaid Visa and Mastercard for sending money to other criminals by using ATM to more slowly withdraw money a convenient store to avoid getting arrested like carrying many thousands of dollars in a suitcase which can look suspicious to the police who may think you robbed a bank, selling illegal drugs, or got the money by holding someone for ransom.

 

[テクニカル諏訪子]

Thanks for the explanation.

I originally thought ID is needed to prevent criminals from using prepaid Visa and Mastercard for sending money to other criminals by using ATM to more slowly withdraw money a convenient store to avoid getting arrested like carrying many thousands of dollars in a suitcase which can look suspicious to the police who may think you robbed a bank, selling illegal drugs, or got the money by holding someone for ransom.

One solution we have here is that prepaid cards don't have an IC chip on them, meaning you can still pay in stores by reading the magnet strip, but you can't withdraw money through an ATM.
And charging such card requires you to physically go to the regi at a supported convenient store too.
Like how the Lawson point card doubles as a JCB prepaid card; you can use it in Nintendo eShop, iTunes store, etc., as well as physical stores that support credit cards, but you can't withdraw money from it at any ATM nationwide (or worldwide, since JCB is only supported in Japan as far as I know).

 

[froggyboy604]

One solution we have here is that prepaid cards don't have an IC chip on them, meaning you can still pay in stores by reading the magnet strip, but you can't withdraw money through an ATM.
And charging such card requires you to physically go to the regi at a supported convenient store too.
Like how the Lawson point card doubles as a JCB prepaid card; you can use it in Nintendo eShop, iTunes store, etc., as well as physical stores that support credit cards, but you can't withdraw money from it at any ATM nationwide (or worldwide, since JCB is only supported in Japan as far as I know).

Not being able to withdraw from ATM from a prepaid credit card can be inconvenient to some people who still have money they don't want to spend with a card.

Some street sellers without electricity like stores which sell vegetables on the sidewalk may only accept cash because buying a credit and debit card reader, and paying for the electricity and internet connection maybe too expensive for their simple store.

In North America, Prepaid credit cards sometimes expire and start charging a small monthly fee after the expiry date, so some less tech savvy users would prefer to withdraw all their unused money from their prepaid credit card to avoid unwanted fees, but they don't want to spend all their money at once.

 

[テクニカル諏訪子]

Not being able to withdraw from ATM from a prepaid credit card can be inconvenient to some people who still have money they don't want to spend with a card.

Some street sellers without electricity like stores which sell vegetables on the sidewalk may only accept cash because buying a credit and debit card reader, and paying for the electricity and internet connection maybe too expensive for their simple store.

In North America, Prepaid credit cards sometimes expire and start charging a small monthly fee after the expiry date, so some less tech savvy users would prefer to withdraw all their unused money from their prepaid credit card to avoid unwanted fees, but they don't want to spend all their money at once.

One simple solution: if you buy a one time prepaid card for the purpose to withdraw money, it's much easier not to buy such a card to begin with.

But I was referring more to prepaid cards that are rechargeable, but the one time ones.
These are usually valid for 3 to 5 years.

But why in America it's common to pay fees after expiration date makes no sense to me.

 

[NameGervin]

Not being able to withdraw from ATM from a prepaid credit card can be inconvenient to some people who still have money they don't want to spend with a card.

The solution of that here is, use that prepaid card that still has balance and send it to your bank account.

 

[froggyboy604]

But why in America it's common to pay fees after expiration date makes no sense to me.

In Canada and America, the banks usually require costumers to pay a monthly fee to use their bank account. I think the fees are used for maintaining the prepaid credit card account, and pay for services like the online prepaid credit card website account, and costumer service related to a prepaid credit card.

Prepaid credit cards sometimes have a loading fee of $2 and more, and after a year the prepaid credit card company may charge an extra $2 or more to use the money to maintain the prepaid credit card's website membership account, and pay the customer service staff and other workers who work in marketing, technical support, and sales at the prepaid credit card company.

The solution of that here is, use that prepaid card that still has balance and send it to your bank account.

That is a good idea. I usually just send unused prepaid credit card account balances to my Amazon giftcard account where I eventually spend the money when I need to buy something like printer ink when I saved up enough money to buy the item.

 

[NameGervin]

In Canada and America, the banks usually require costumers to pay a monthly fee to use their bank account. I think the fees are used for maintaining the prepaid credit card account, and pay for services like the online prepaid credit card website account, and costumer service related to a prepaid credit card.

Prepaid credit cards sometimes have a loading fee of $2 and more, and after a year the prepaid credit card company may charge an extra $2 or more to use the money to maintain the prepaid credit card's website membership account, and pay the customer service staff and other workers who work in marketing, technical support, and sales at the prepaid credit card company.

Fees in that country are really high. Prepaid cards are much friendly here. You only be needing to pay fee for withdraw, depositing is free. The account will not be dormant or inactive if you don't have transactions for a month or even a year. Common fees usually cost only below $0.50. If you want to send money or pay bills, Online transaction/transfer is free and doesn't have fee. I usually do this, so enrolling your prepaid card online on banks website is a really huge help.

 

[テクニカル諏訪子]

Fees in that country are really high. Prepaid cards are much friendly here. You only be needing to pay fee for withdraw, depositing is free. The account will not be dormant or inactive if you don't have transactions for a month or even a year. Common fees usually cost only below $0.50. If you want to send money or pay bills, Online transaction/transfer is free and doesn't have fee. I usually do this, so enrolling your prepaid card online on banks website is a really huge help.

America, Canada, and in a very little bit lesser sense EU are just countries/political blocks where money rules society.
Australia, Japan, Korea, Hong Kong, and Taiwan basically too, but far less extreme.

 

[Dan The Man]

ATMs are dying. Alternative forms of cash like Credit Card, Bitcoins, Venmo, and Paypal take away the need to have a lot of cash on hand.

 

[fantanoice]

If you have a SUICA, it's perfectly possible to not pay with cash over here.
But that means you'll be depending yourself on major convenient stores, chain restaurants, and train stations only, and a limited amount of vending machines and game centres.

...

And you'll need to get cash in order to charge SUICA...unless you have auto charging...which requires a Japanese credit card or phone number...which is out of the question to short term visitors.

In other words, you need cash.

I had a SUICA as well but mainly used it for the train and occasionally the arcade because it was novel to play arcade games with a train card.

 

[テクニカル諏訪子]

In other words, you need cash.

I had a SUICA as well but mainly used it for the train and occasionally the arcade because it was novel to play arcade games with a train card.

SUICA is mostly useful in JR East stations, since everything buyable support it inside.
I use it in vending machines too when I see one that can use SUICA but no nanaco.

As for arcade, it's not everywhere, but basically most SEGA and Taito game centres can use SUICA, but Round 1 can not.