Visiting the UK - money question.
Jan 16th 2017, 6:35 am
#17
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Visiting the UK - money question.
When I shop with my credit card I am never asked if I want "cashback" When I use a debit card they always ask me. What is that all about ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
Jan 23rd 2017, 3:44 am
#18
Account Closed
Joined: Oct 2003
Posts: 0
Re: Visiting the UK - money question.
When I shop with my credit card I am never asked if I want "cashback" When I use a debit card they always ask me. What is that all about ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
Jan 23rd 2017, 4:11 am
#19
Account Closed
Joined: Jan 2006
Posts: 0
Re: Visiting the UK - money question.
B of A charges $5 for international ATMs + 3% conversion fee, however they have agreements with some foreign banks customers can use and avoid the $5 fee, but the 3% still applies. The partner bank won't charge a fee either, so you just have to pay the 3%. Of course one needs to be a customer of B of A.
Spoiler:
Jan 23rd 2017, 1:15 pm
#20
Lost in BE Cyberspace
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
Re: Visiting the UK - money question.
When I shop with my credit card I am never asked if I want "cashback" When I use a debit card they always ask me. What is that all about ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
Jan 23rd 2017, 4:02 pm
#21
Dichotomus tinker
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,678
Re: Visiting the UK - money question.
When I shop with my credit card I am never asked if I want "cashback" When I use a debit card they always ask me. What is that all about ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
On my arrival to live in rthe UK again after years away, this was one of the transactions that baffled me. Still does. Am I destined to spend the rest of my life in a state of baffledom ?
If the merchant was to give you 100 cashback on a cc, they'd lose ~3 points.
Direct debit is a cash transaction (debit) straight from your bank account, no fees to the merchant
Last edited by not2old; Jan 23rd 2017 at 4:04 pm.
Jan 23rd 2017, 8:03 pm
#22
BE Forum Addict
Joined: Mar 2015
Location: NC, USA (ex Yorkshire)
Posts: 4,375
Re: Visiting the UK - money question.
put yourself in the shoes of the merchant who pays 3% (gets deducted by the CC company on what it pays to the merchant) or whatever % on each credit card sale
If the merchant was to give you 100 cashback on a cc, they'd lose ~3 points.
Direct debit is a cash transaction (debit) straight from your bank account, no fees to the merchant
If the merchant was to give you 100 cashback on a cc, they'd lose ~3 points.
Direct debit is a cash transaction (debit) straight from your bank account, no fees to the merchant
In the USA, Direct Debit is the ACH system, which I don't have experience from a merchant POV, but i'm sure there are bank charges associated.
