Entropia Universe Cash Card Update - Page 7

Rumsponge · 03-31-2008, 14:43

So you think that it'll turn EU into a bank account for people who can't get a normal bank account? I guess that could be a reason to use it, but the fees are pretty steep to keep depositing money and then using the Cash Card to withdraw it, aren't they?

Maybe this is why they are having problems? Most countries have a problem with unregulated banking.

btw, I'm not arguing against the card, I'm just throwing out some thoughts to get others' opinions.

Tseng · 03-31-2008, 17:21

Quote:

Originally Posted by Unity

I bet many people are thinking likewise, too bad card doesn't seem to be on priority list of MA.

Priority or not, as said before there seems to be some legal problems to make this card available in so many countries.

If EU would only be for swedish players, it should be quite easy to do it i think.

Quote:

Originally Posted by Rumsponge

So you think that it'll turn EU into a bank account for people who can't get a normal bank account? I guess that could be a reason to use it, but the fees are pretty steep to keep depositing money and then using the Cash Card to withdraw it, aren't they?

Dunno, but if you charge the card you basicly deposit.

From the FAQ:
Can funds be moved back off the card in case I suddenly find I need those funds before I withdraw them?
At a later stage this should be possible. But at the moment it is not possible to transfer any funds back to your PED card from the EU Cash Card.

This basicly tells, that when you "charge" your EU Cash Card, you do a deposit (pay with PEDs and deposit it on your EU Cash Card Account), so basicly it act's as a debit card.

Rumsponge · 03-31-2008, 17:46

Yes, it is only for withdrawls. You would still have to make deposits in the normal fashion. Then you transfer from PED card to Cash Card if you want to withdraw some.

But you end up paying a few percent to put to deposit and you pay a few percent to withdraw, plus you pay a monthly fee just to have the card. So it seems like an awfully expensive proposition.

timmmers · 04-02-2008, 00:54

Didn't Marco say it was going to be a debit card? If so, then it's possible to use it as any other debit card to deposit...or shop or withdraw from ATMs.

The FAQ answer would mean that directly reversing ped withdrawals wouldn't be possible as they would have been cleared onto the card...and converted to currency from peds. Putting them back ingame would mean paying a fee for sure, as with all prepaid debit cards around now....fair enough as long as it's not huge.

A Polish girl I know who works here in the UK gets her employer to pay her wages directly onto a card like this....then uses it to send money home to her family easily and cheaply, and to support her living expenses (like buying me beer

) .
That is a branded Visa card, she uses it much like a bank AC, I can't see much real difference preventing the EU cards being very similar in how they work.

I'm hoping they turn out to be, the more useful functions they have the better really even if most of us may never use them.

t

Rumsponge · 04-02-2008, 01:24

One would expect that it would be a VISA or Mastercard, but I suspect that the term "debit card" is inaccurate in that it implies an attachment to a bank account. I am fairly certain that it was stated early on that it was only for withdrawls. Thus, it is essentially a reloadable pre-paid VISA. Of course, I would think that you could use it to deposit just like any other VISA, but I don't have any idea how many fees you'd pay. Regardless, I would not believe that you could deposit money onto it at an ATM.