Cash back on a *credit card* transaction is *not* possible. This option only works when a debit card is used, and of course one should never, ever use a debit card for purchases or transactions other than at your bank's ATM.
Huh? I never use ATM's, I don't need cash. But I use a debit card at the grocery and the pharmacy all the time. For other stuff I use AMEX, no interest charges and I get cash back ;-)
Debit cards have (generally) the same reverse-a-charge capability as credit cards. The banks added that feature some years ago... they want you to use your debit card, since they get a cut from the retailer ;-) ...Jim Thompson
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| James E.Thompson, CTO | mens |
| Analog Innovations, Inc. | et |
| Analog/Mixed-Signal ASIC\'s and Discrete Systems | manus |
| Phoenix, Arizona 85048 Skype: Contacts Only | |
| Voice:(480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |
I love to cook with wine. Sometimes I even put it in the food.
Why not? I use them for maybe 20% of my transactions, because of kickbacks or 'cash' discounts. And I use multiple debit cards ALL the time when travelling (in foreign bank ATMs that are members of the appropriate network). Otherwise you're getting a cash advance which is not a Good Thing. Better than using some musty 19th-century technique like standing line with your passport at bank forex counters or traveller's checks/cheques. And, at home, 'cash back' at Costco or Sam's or the liquor store once in a while saves a trip to ye olde ATM.
What century are you from? I only use my debit card at POS terminals, I rarely use it at an ATM. You just always keep an eye on the receipts.
Charlie
Funny. Over here debit cards are used almost exclusively. But it really is something to watch for when using a debit card!
--
Failure does not prove something is impossible, failure simply
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"If it doesn\'t fit, use a bigger hammer!"
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I dunno.. maybe for some people. I can buy a grocery cart full of groceries and estimate the total price to within a few percent without even trying. Sometimes I catch stuff where the sale price wasn't honored or the price marked in the aisle wasn't set up in the computer (then it's free up to some limit).
There's no way they'd be able to add $20 onto my bill without me noticing, let alone $40 or $100.
Or, in other words, you can't cheat an honest man. ;-)
Thanks, Rich
Apparently retailers either pay less (or nothing) on debit card charges than on credit card charges. Winco here in OR only accepts debit cards, and for a financial reason.
Debit cards generally require no balance verification, thus less computer time tied up. Instead the banks just charge you an outrageous over-draft fee ;-) ...Jim Thompson
-- | James E.Thompson, CTO | mens | | Analog Innovations, Inc. | et | | Analog/Mixed-Signal ASIC\'s and Discrete Systems | manus | | Phoenix, Arizona 85048 Skype: Contacts Only | | | Voice:(480)460-2350 Fax: Available upon request | Brass Rat | | E-mail Icon at http://www.analog-innovations.com | 1962 | If you wanted a President with balls why didn\'t you elect Hillary?
I believe they pay a fixed transaction cost rather than a 1.5-2%-ish percentage plus transaction cost. Cash back costs them nothing, plus it's less cash they have to deposit.
'Cash' price usually applies to debit card purchases, unless the seller is not planning on reporting the income.
Any idea what the fees are like in Europe for using bank cards? I've noticed over there that many more people use bank cards even for very small (
There used to be a nifty food "outlet" store just down the street - you could get day-old bread and dented cans of soup for really reasonable prices. One day, I got out my bank card and said, "I can use this like a Visa, or like a debit." The guy said he'd prefer the debit, since it's cheaper for the store.
Cheers! Rich
Depends. Amex is viewed as a ripoff pariah by all merchants and some will *not* take it at all. Don't assume that restaurants will take it.
Other credit cards like Visa/JCB/Mastercard are all similar 1-2% and the bank debit cards with still smaller fees are best from the merchants point of view. Most now have chip and pin with hard cryptography or contactless technology which makes small transactions easy.
Vendors don't usually accept cards for transactions under £ 10 Euro.
Belgium has had zero fee e-cash suitable for buying a loaf of bread since before 1998 - called Protons. The Protons on every bank card had to be revalued when the Euro replaced the BEF which took a while. Almost every shop had a terminal so there was no messing and no change.
When they switched to Euros it was reported as a decrease in trade in the Euro-phobic UK press, but what actually happened was that more people used e-cash and stopped wearing their trouser pockets out with fistfuls or bronze age coin.
Regards, Martin Brown
iced=20
in=20
In the UK, =A35 is the usual minimum spend.
--=20
Terry
Used to be, here, but I haven't had my AmEx refused in a couple of years. Everyone seems to take it now. Either far more merchants accept the higher ding or AmEx has normalized their fee.
You're quite low and fees depend on the merchant. Small transaction may be easy but the transaction fee isn't, on a small purchase.
Likely because of the fixed part of the transaction fee.
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