Personal Finance

I'm confused about Acculink, Exchange, and Ding Free

  • Last Updated:
  • Nov 20th, 2019 3:50 pm
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Feb 28, 2014
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someweirdo wrote: Why wouldn't you want to do an e-transfer?
Not everyone likes to do Interac eTransfers. Cash still has its uses.

There's a good portion of landlords that prefer people to pay them in cash instead of cheques or eTransfers.
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someweirdo wrote: A branding name for Acculink that also includes The Exchange? This is one of the reasons Ding Free is so confusing.
Don't think of it this way, @someweirdo. ding-free.ca is a website that, for user convenience, includes The Exchange Network database. Both logos are included for each ATM network. Many credit unions will say Exchange ATMs are ding-free, which is confusing, in my (and likely many peoples') views. I wish they wouldn't do that, or they'd say "ding-free on two ATM networks, which include The Exchange.

It almost sounds as though Ding Free is purely a creation of the Canadian Credit Union Association, with little input from The Exchange. It's as though they thought, "No one knows what Acculink is, so let's change the name to Ding Free in our marketing. And since many credit unions are also on The Exchange, let's conflate the two ATM networks to make things 'simpler' for customers."
Yes, except originally created by Central 1 Credit Union. However, remember the CCUA is made up of its member credit unions to speak on their behalf, so you can bet something like this was voted on by, at a minimum, CCUA's board and/or Central 1's board (whose directors come from the boards and management teams of various credit unions.
So an Acculink-only ATM is a Ding Free ATM, but an Exchange-only ATM is not a Ding Free ATM?
You're kind of asking word semantics here.

A ding free™ ATM is an Acculink ATM. A ding free ATM could include Acculink and Exchange network ATMs. Emphasis added on the ™. The latter is a generic use of the term.

Cheers,
Doug
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deltatux wrote: Not everyone likes to do Interac eTransfers. Cash still has its uses.

There's a good portion of landlords that prefer people to pay them in cash instead of cheques or eTransfers.
Yeah, because most of them are trying to evade income taxes and cook the books. I've seen it in the bank. Or, they're renting to people doing nefarious things—either knowingly or unknowingly in a Pollyanna-esque delusion. Then they wonder when things go south and they're like, "I had no idea it was an illegal grow up/crack house. They seemed like such good people." Yeah, good people with no legitimate job and wilfully accepting of your too high $2000/mo.+ asking rent.

End of rant.

Cheers,
Doug
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dmehus wrote: Yeah, because most of them are trying to evade income taxes and cook the books. I've seen it in the bank. Or, they're renting to people doing nefarious things—either knowingly or unknowingly in a Pollyanna-esque delusion. Then they wonder when things go south and they're like, "I had no idea it was an illegal grow up/crack house. They seemed like such good people." Yeah, good people with no legitimate job and wilfully accepting of your too high $2000/mo.+ asking rent.

End of rant.

Cheers,
Doug
Ya that's true, but still, cash has its uses still lol. It's more preferred by the older folks than the younger ones. Personally, I don't like using cash but there are still stores that are cash only I go to so, still have to hold cash. Plus, it's good for when you're in a pinch.
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deltatux wrote: There's a good portion of landlords that prefer people to pay them in cash instead of cheques or eTransfers.
Usually because they're evading taxes. That's why my landlord insists on cash.
dmehus wrote: Don't think of it this way, @someweirdo. ding-free.ca is a website that, for user convenience, includes The Exchange Network database.
Okay, that makes more sense than what I was thinking. But I still think the confusion could be cleared up by simply scrapping Ding Free altogether.
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someweirdo wrote: Usually because they're evading taxes. That's why my landlord insists on cash.
Likely, but that doesn't negate the necessity of cash. Generally I find older people prefer cash, even when they're doing their groceries or making general purchases than charging it on debit or credit and leave cards for large purchases or online purchases. Not everyone prefers using cards. Even some finance coaches/advisors recommend people to pay their basic purchases like groceries & other bare necessities with cash as part of cashflow management as you can physically see the money leaving your hand.
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deltatux wrote: Ya that's true, but still, cash has its uses still lol. It's more preferred by the older folks than the younger ones. Personally, I don't like using cash but there are still stores that are cash only I go to so, still have to hold cash. Plus, it's good for when you're in a pinch.
Yes, and to be clear, I prefer cash for spending for small purchases. Maybe I miss out on reward points, but I also don't like little $5.00 purchases on my credit card. Less to reconcile at the end of the money. ;)

So yeah, I like cash, but wish people would pay for larger ticket items (i.e., rent included) via either of (a) credit card) or (b) Interac e-Transfer.

Cheers,
Doug
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someweirdo wrote: Usually because they're evading taxes. That's why my landlord insists on cash.



Okay, that makes more sense than what I was thinking. But I still think the confusion could be cleared up by simply scrapping Ding Free altogether.
Well, they don't want to do that because then The Exchange might try and rebrand themselves as ding free. They could get rid of the Acculink brand, replace it with ding free™ ATM Network, and then still comingle the Exchange ATMs on their website for convenience. CUs, in turn, would then be forced to modify their own websites to say, "All ATMs on either of the ding free™ or The Exchange™ ATM networks are free of ATM owner-applied surcharges."

Cheers,
Doug
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deltatux wrote: Likely, but that doesn't negate the necessity of cash. Generally I find older people prefer cash, even when they're doing their groceries or making general purchases than charging it on debit or credit and leave cards for large purchases or online purchases. Not everyone prefers using cards. Even some finance coaches/advisors recommend people to pay their basic purchases like groceries & other bare necessities with cash as part of cashflow management as you can physically see the money leaving your hand.
Yes, I don't go to that extent for groceries, but do take that approach for small purchase discretionary spending. I almost never use a credit card at the dollar store or quick service restaurants and cafes. I set a weekly budget, allocated by an ATM withdrawal for the week (say $40), and when that's depleted, I have to wait until next week. I have the willpower to resist such spending urges anyway, so probably isn't necessary, but it's like an extra safeguard.

Cheers,
Doug
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Bull Dog wrote: There's so many reasons to carry cash- you owe a friend money and don't want to etransfer him, you don't want to chance your debit or credit card getting skimmed and don't have apple pay or google pay, you don't want Google or Apple to know everything you purchase, your atm just ate your card, you want to tip in cash.
Church thrift sales, garage sales, Girl Guide cookie sales, poppy fund donations, anywhere when the power goes out, when the payment network goes down, the list goes on and on. I always have at least $100 cash on me. I rarely use it, but I still always have it.
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Bull Dog wrote: @dmehus - How does Everlink pin services for changing pin numbers for some FIs debit cards relate to Acculink and The Exchange ?

Everlink Pin Services
Hadn't heard of that, but Everlink is just a vendor. Note that not all Acculink or Exchange members may utilize their services. It could just be a separate way of functionally implementing PIN changes at Acculink and/or Exchange ATMs, for which they provide a locator tool of little benefit. It could be in-branch PIN changes. I'd have to look into it.

Cheers,
Doug

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