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Comment by chevman | Hacker News Reader

I checked out their fee schedule and the "3%, plus a $7 charge" appears to be for international transfer fees:

https://www.mctrpayment.com/pdf/CA_MCTR_Fee_Trans.pdf

For domestic transfers, appears free per your linked article:

"As long as you have your bank’s routing and account number, you can transfer funds to your bank account without paying a fee in the following ways

Transfer funds online at mctrpayment.com Transfer funds using the Money Network Mobile App Transfer funds by calling 1-800-240-0223"

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Yes but OPs way seems more exciting.

The news article says you can do a transfer easily, but the actual contract terms do not.

An "external transfer" means out of their bank, not out of the country.

I don't see anything in https://www.mctrpayment.com/cardholder-agreement that defines "external" as outside of their bank.

The "Transaction Limits" refer to "Transfer to External Bank Account | Domestic or International" but the "Fee-Based Services and Transactions" section only references "Transfer to External Bank Account | International" and all the context there on the 3.5% + up to $7 fee is all about foreign exchange conversions.

I don't see anything in https://www.mctrpayment.com/cardholder-agreement that defines "external" as outside of their bank.

It's standard banking terminology.[1][2]

[1] https://www.commercebank.com/personal/online-features/extern...

[2] https://www.lawinsider.com/dictionary/external-bank-account

I don't usually cite on other sites, when this is plainly spelled out in the site I'm talking about ("International" clearly different than "Domestic and International").

Regarding using information for marketing purposes, the privacy policy at https://www.mctrpayment.com/privacy/ explicitly says they don't do that, they only share information related to everyday business purposes, not for marketing. What leads you to believe otherwise?

The New York Community Bancorp, Inc.'s consumer privacy notice mailed with the VISA debit card. Their form M-135389, rev 12/21, page 1 of 2. If there is sufficient interest, I will scan it and post the scan.

Table:

Reasons we can share your personal information: For joint marketing with other financial companies.

Does New York Community Bancorp, Inc. share?: YES.

Can you limit this sharing: NO.

This probably violates the California Consumer Privacy Act.

Interesting. Is there also conflicting information (what came with the card mailing vs. what's published on the website) regarding the fees or does that match?

It does not unfortunately because this is covered by federal law under the Fair Credit Reporting Act. There are exceptions to the CCPA for FCRA, HIPAA, and GLBA.

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