Personal Finance

Do you use Interac Flash / Debit?

  • Last Updated:
  • Aug 26th, 2013 10:42 pm

Poll: Do you use Interac Flash / Debit?

  • Total votes: 57. You have voted on this poll.
Yes, I prefer the added convenience
 
16
28%
No, as the negatives outweigh its usefulness
 
41
72%
[OP]
Sr. Member
User avatar
Apr 12, 2008
559 posts
27 upvotes
Toronto

Do you use Interac Flash / Debit?

Most of us know about or have used contactless credit card payment methods such as Mastercard PayPass and Visa's payWave. However, the other (and somewhat newer) choice is to go with Interac Flash to make debit payments ($100 daily default flash payment limit).

My understanding is that only RBC, Scotiabank and TD have embraced Interac Flash while BMO and CIBC have yet to do so (such as my bank).

IMO, I find flash debit extremely convenient and I'm really tempted to switch banks that have this service (although it my be too much of a hassle anyways).

Do you guys use flash debit? Do you find it useful or useless?

Thanks!
28 replies
Sr. Member
Feb 28, 2013
945 posts
82 upvotes
Toronto
No. I don't like that someone can steal my wallet and make a purchase even if I would get it back, it is annoying and I don't understand how tapping my card is more convenient than putting in a few numbers and hitting okay. Definitely not that pressed for time! Bank turned that feature off for me.

Of course, I keep a 40 hour work week and a 6 minute commute and no children.
[OP]
Sr. Member
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Apr 12, 2008
559 posts
27 upvotes
Toronto
Beans1234 wrote:
Jul 19th, 2013 3:28 am
No. I don't like that someone can steal my wallet and make a purchase even if I would get it back, it is annoying and I don't understand how tapping my card is more convenient than putting in a few numbers and hitting okay. Definitely not that pressed for time! Bank turned that feature off for me.

Of course, I keep a 40 hour work week and a 6 minute commute and no children.
Even though Interac offers complete liability coverage, I respect your viewpoint.
Deal Addict
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Aug 1, 2008
1546 posts
72 upvotes
I answered no, because I only see negatives points to using interac. I must pay money to use interac when my credit card pays me to use it...
I feel the need... the need for speed.
Deal Addict
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Jan 2, 2012
3075 posts
940 upvotes
Toronto
Credit card with paypass gives me 2% back in rewards and all kinds of insurance features on products i buy.

What does Interac offer? Why would anyone choose interac over a cc, unless they had serious debt problems??
Deal Fanatic
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Jun 3, 2006
8178 posts
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Markham
rob444 wrote:
Jul 19th, 2013 8:48 am
Credit card with paypass gives me 2% back in rewards and all kinds of insurance features on products i buy.

What does Interac offer? Why would anyone choose interac over a cc, unless they had serious debt problems??
This. I haven't used debit cards since my early university days. Some argue that credit cards make you spend more because you lose track. I on the other hand find it easier.
Deal Addict
Jun 27, 2005
1051 posts
139 upvotes
Oakville, ON
ToniCipriani wrote:
Jul 19th, 2013 9:23 am
This. I haven't used debit cards since my early university days. Some argue that credit cards make you spend more because you lose track. I on the other hand find it easier.
+1 only time I use my debit/cash when the store doesn't take credit
Moderator
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Mar 23, 2004
37923 posts
4105 upvotes
Markham
no, dont use it.
「もし、奇跡を起こせたら……」
Deal Guru
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Feb 24, 2008
14403 posts
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Gatineau
2heaven wrote:
Jul 19th, 2013 9:51 am
+1 only time I use my debit/cash when the store doesn't take credit
+1. I only use my debit card at the ATM to deposit/withdraw cash/cheques. Credit card for everything else. And even ING is allowing me to Cheque deposit without going to an ATM

djino
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Jul 19, 2011
2240 posts
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Toronto
I use Cash. If I don't have Cash for regular Items, I don't buy it. Credit Card is for Big Items.
We now live in a Nation where doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the press destroys information, religion destroys morals, and our banks destroy the economy.
- Christopher Hedges
Deal Fanatic
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Mar 12, 2005
8619 posts
1223 upvotes
Victoria
I mix up purchases between CC and Debit cards. Paypass or flash both seem really flaky. I'm starting to see more devices that support it but they usually don't work.
Deal Addict
Dec 16, 2012
2052 posts
258 upvotes
Vancouver
My card does not have this but if it did I would not use it. Since I gotten my credit cards I have not used debit....I barely pull my bank card anymore out. I love to use my credit card for everything. I like this concept of tapping and go though and I use it alot...I just wished the machines would not break so often.
Deal Addict
Feb 2, 2011
1605 posts
257 upvotes
Ottawa
zod wrote:
Jul 22nd, 2013 1:47 am
I mix up purchases between CC and Debit cards. Paypass or flash both seem really flaky. I'm starting to see more devices that support it but they usually don't work.
This is exactly my feelings on Visa's paywave. I see tons of places that are equipped but don't work.
Jr. Member
Dec 27, 2012
103 posts
35 upvotes
OTTAWA
there is a $50 limit on each paywave/paypass transaction on your credit card. So the terminals automatically dont accept paypass/wave if the transaction amount is more than $50. In theory paypass is less risky than chip+pin, when we consider the money at stake. Also its hard to prove that its not you who entered the pin, incase PIN is compromised.

no thief is going to risk just for $50, they usually aim for bigger bets
Sr. Member
Jul 2, 2008
593 posts
42 upvotes
Toronto
NEVER pay using debit, why? no points achieved. VISA for all, Amex for some, Cash when previous 2 not allowed.

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