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Originally Posted by tASSy
i'd imagine they're giving those cards out through an issuing bank that is in the US and thus FDIC insured. the possibility that someone might get an imprint of your card and use it isn't even a concern to an FDIC insured bank - and they'll charge off any of your disputed claims quickly because they can afford to.
i *think* the reason the numbers aren't raised on the ePassporte electron cards is because the magnetic strip *must be* swiped in order for the holding bank that is not in the US to receive the information about your purchase. when the old shopkeeper with the imprint machine tries to call ePassporte's 800# with the number and expiration date of your card it won't make any difference because the bank holding the money offshore doesn't get any information about the transaction because the magnetic strip can't be swiped.
that's my best guess, not necessarily fact, but with a little training from ePassporte too.  |
It has nothing to do with the bank being offshore. Lots of banks offer VISA Electron cards, as well as Maestro cards (MasterCard's version), which both are only to be used for ONLINE transactions. Meaning you swipe it, it checks your account for available funds then says go or no go. With credit cards you can swipe them and even if the connection with the bank fails or you don't have funds in your account, you can technically still complete the purchase and receive the charges afterwards.