Can you get cashback with laser without available funds?

timex711 · 20-09-2011 1:53pm #1

hi,

i was wondering if you can get cashback without available funds in your account?

eg, if you have E30 in your account and you ask for E100 cashback.

is that possible?

BuffyBot · 20-09-2011 4:47pm

No, if you have no overdraft, the transaction should be declined

Marcusm · 21-09-2011 11:06am

[Whisper in ear] Ssssh, don't tell anyone but not all transactions are referred for an online check of available funds.....

jeckle · 21-09-2011 11:14am

If your Laser Card has has the Cheque Guarantee Card symbol on it a transaction of up to €130 will be authorised without having an overdraft facility, though Chq Guarantee Cards are due to be done away with at the end of this year, so I assume that the €130 limit will also be removed at that stage.

Also, most retailers will only give a max of €75 cashback.

matt70iu · 21-09-2011 5:22pm

AFAIK you used to be able to do this. This was why banks used to insist your account was in good standing before a laser card was issued.

Now, they check every transaction at POS to make sure there are funds in the account. This is why AIB and BOI are now issuing laser cards as standard with all new accounts, regardless of history, employment status etc.

Had a transaction declined recently cuse I had less money in the account than I thought, rather embarrassing at the time:)

wmpdd3 · 21-09-2011 10:57pm

In some smaller shops there's a floor limit, where the machine only connects with the bank for transactions over a certain limit, so in theory it would be possible to make a sale on you card under this amount.

But in larger supermarkets, if you only €1 out you wont be able to get cash back or continue with your transaction. This has happened tome loads!

Can you get cashback with laser without available funds?

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