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Old 06-02-2010, 06:40 PM
 
14,253 posts, read 15,332,749 times
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Quote:
Originally Posted by wanneroo View Post
I read a few years ago 5% of the UK's GDP is from American tourism. Not a small number in the scheme of things.

Around 5 years ago when I was working in Colorado, I met a wealthy brit family who's source of wealth was from gift shops in the UK that catered to American tourists. At the time they were complaining because the pound was starting to be so strong it was keeping Americans away from the UK.
UK GDP is around $2 Trillion/year. Are you suggesting that US tourism in the UK is worth $100 billion/year?

"Jeff Hamblin, CEO of the British Tourist Authority, told CNN last year: "Roughly one in every five dollars spent in Britain by overseas visitors is spent by Americans, and last year 4.1 million Americans came here, and they spent close to US$4 billion.""

So that would be 0.2% of GDP.

As the UK is the top European destination for US tourists, that percentage would be even lower for Europe as a whole. So. really not a material number in terms of technology decisions being made by European financial institutions.

Last edited by Jaggy001; 06-02-2010 at 06:52 PM..
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Old 06-02-2010, 07:03 PM
 
2,065 posts, read 4,179,539 times
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This is really a matter of choice.

If one wants to visit a place (I am obviously talking about tourism here, work-related trips usually have to be taken whether one wants to go or not) and this place is not adapted to one's convenience, would one go there anyway, enjoy the trip and adapt to circumstances, or just say "I know this is your place, but is either my way or I will go somewhere else"?

A matter of choice only.
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Old 06-02-2010, 08:29 PM
 
13,169 posts, read 20,791,547 times
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I don't expect a foreign country to adapt anything for my convenience. I just want to know in advance if my credit card will work or not.
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Old 06-02-2010, 08:43 PM
 
14,253 posts, read 15,332,749 times
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Quote:
Originally Posted by Mattie View Post
I don't expect a foreign country to adapt anything for my convenience. I just want to know in advance if my credit card will work or not.
Right now it will. Both technologies are still supported in most locations.
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Old 06-02-2010, 09:09 PM
 
4,919 posts, read 19,859,989 times
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Quote:
Originally Posted by Mattie View Post
I don't expect a foreign country to adapt anything for my convenience. I just want to know in advance if my credit card will work or not.
call your credit card company. depending on you card and relationship they may send you another card with chip incase you mag card can't be used.
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Old 06-02-2010, 09:18 PM
 
9,830 posts, read 19,577,532 times
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Quote:
Originally Posted by Chava61 View Post
Due to the rise of identity theft, it is good idea to inform the companies/banks that issue your credit/debit cards before leaving the USA on any trip outside the USA. Sometimes if you don't do this, the cards get blocked when you try to use them overseas.
It's happened to me and I've had to call them from within the country with my world cell phone. I tried the notification thing and that didn't work.
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Old 06-02-2010, 10:31 PM
 
Location: St. Louis
9,595 posts, read 17,176,886 times
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Quote:
Originally Posted by Chava61 View Post
Due to the rise of identity theft, it is good idea to inform the companies/banks that issue your credit/debit cards before leaving the USA on any trip outside the USA. Sometimes if you don't do this, the cards get blocked when you try to use them overseas.
I've had that happen, and thanx for reminding me.
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Old 06-02-2010, 10:39 PM
 
Location: Chicago
38,690 posts, read 89,203,959 times
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Eventually U.S. cards won't work in Europe at all as the mag stripe is phased out there. Right now mag stripes are still used as a "backup" during the transition period but eventually they'll stop accepting mag-stripe transactions altogether.

I love this quote from the article: "It's difficult for U.S. financial institutions to switch to the chip-and-PIN standard because they've invested heavily in the old technology. It'd cost the industry about $8.6 billion to convert, says consulting firm Javelin Strategy & Research." What, and they think it didn't cost European institutions anything to convert? Their infrastructure was heavily invested in mag-stripe technology too, but they're converting to chip technology anyway because they figured out that it would cost less over time to convert than to keep eating losses caused by easily forged mag-stripe cards.
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Old 06-03-2010, 06:32 AM
 
Location: Colorado (PA at heart)
8,916 posts, read 13,662,247 times
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Quote:
Originally Posted by Drover View Post
Eventually U.S. cards won't work in Europe at all as the mag stripe is phased out there.
Once again, there is always the option of manually putting the card details into the card machine or computer. That is never going to change.
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Old 06-04-2010, 12:26 PM
 
Location: Tucson
42,837 posts, read 79,065,992 times
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Wow, I was surprised by this thread as I wasn't aware of this issue. Since '05 I haven't been abroad anywhere other than in Mexico and I don't use credit cards or even ATMs there.

Sooo, we're about the last ones in everything these days, huh... That's what I found while researching:

Smart credit cards arrive in U.S. -- finally

Judging by the post below, I'm not sure if the issue is limited to credit cards only or not... I'm not finding any info about problems with getting cash from ATMs and I don't get why the poster below talks about ATMs and credit cards in the same sentence...

Has anybody experienced problems getting cash from ATMs in Canada?

Quote:
Originally Posted by Finger Laker View Post
Not because of the chip vs strip technologies.

I've actually had that problems using my card in Canada. The ATMs and merchants would not accept my credit card. It wasn't running properly. I didn't think much of it as I had used the same card throughout the UK and Europe while living over there for a 6 month stay. Back stateside I was going to spend a weekend in Toronto and figured I'd just pull cash once I crossed to have some Canadian currency .......... and was stuck relying on a limited amount of american dollars for the entire weekend.

It sucked.
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