Busted: Bankers and The Global Economy

January 29, 2008

Americans and Addictive Banking

Filed under: banking, money — Tags: , , , , , , — digitaleconomy @ 11:42 am

Overdraft fees have increased. ATM fees are up. Credit card rates are expected to rise, followed by late fees as the market tightens. “Today, customers want more than a bank. They want a financial ally who makes itself available to them on their terms.” This is how a bank in India paints banking. Does your bank work on your terms?

TNTalk! Americans and Addictive Banking 1/29/2008


December 16, 2007

British RFID Cards Create Concern

Filed under: banking, money, RFID, security — Tags: , , , , , , , , , — digitaleconomy @ 12:31 pm

Barclaycard has come in for criticism over its plans to automatically replace thousands of people’s credit cards with new “three-in-one” cards which include an Oyster card (London’s pay as you go transport card) and a cashless payment facility.

rfidcardswipe.jpgCertain British bankers are automatically upgrading credit cards of their customers and passing customer information like name and date of birth to Transport for London for new card creation. Best practice under the Data Protection Act requires people to have to “opt in” to having their data passed on to other organisations rather than “opt out”. Bankers are obviously ignoring “best practice”.

The Guardian 12/15/2007

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