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Credit Card Positive balance

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  • 10-06-2013 9:43am
    #1
    Registered Users Posts: 276 ✭✭


    if you have a positive balance on your credit card is there anyway a bank can charge you for withdrawing it at an atm, surely not but you never know with banks? ta


Comments

  • Registered Users Posts: 19,022 ✭✭✭✭murphaph


    I think I read of one cheeky bank that does that but I forget which one. Remember also the problem of fraudulent use. Most (all?) Irish banks will NOT cover any fraudulent use of the credit on your card!! This is reason enough IMO not to pre load an Irish CC with credit just to avoid cash advance fees.


  • Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Yes they can, and many do. Even some card products from the same bank do/don't.


  • Registered Users Posts: 276 ✭✭k101


    ok so if your unlucky/ignorant and your being charged a fee for withdrawing your own money is there away to get round this. will it make any difference if you go into the bank and try and do the transaction rather than using the atm.

    Pretty poor form in my opinion


  • Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    No difference.

    Use your debit/ATM card in the future.


  • Registered Users Posts: 276 ✭✭k101


    so lets say you deposit 500 into online poker account and win 20 grand, they pay you back to your credit card as that's the way your deposited, so now to get your 20 grand you are going to have to pay 2 percent or whatever it is to get your money?, that's sounds ridiculous but it seems they do that crap


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  • Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    k101 wrote: »
    so lets say you deposit 500 into online poker account and win 20 grand, they pay you back to your credit card as that's the way your deposited, so now to get your 20 grand you are going to have to pay 2 percent or whatever it is to get your money?, that's sounds ridiculous but it seems they do that crap

    In that case obviously would make sense to directly transfer it to your bank account if you do get the big win.

    For something like that, they the CC provider could probably do a once off EFT to your bank account


  • Registered Users Posts: 7,588 ✭✭✭daithijjj


    k101 wrote: »
    so lets say you deposit 500 into online poker account and win 20 grand, they pay you back to your credit card as that's the way your deposited, so now to get your 20 grand you are going to have to pay 2 percent or whatever it is to get your money?, that's sounds ridiculous but it seems they do that crap

    Far as i know you cant withdraw that much in one go (depends on site maybe), would probably be smaller increments like 2.5k per day (pedantic i know). What you could do in that instance is move a small amount from CC to DC/current and check it out first.

    There will surely be instances where CC's are in credit, for example, buy something, pay the bill, but then get refund later. So price of item would be a credit balance if refunded back to same card.

    No hard and fast rule in my experience, banks just differ. Also, you should be able to register a DC as well as a CC with a site, think you may be even able to register 2 x CC and 2 DC (or 2 x Visa + 2 x Mastercard, again, sites will differ.)

    Basically, better to use a DC (for more reasons than just the possibility of losing a % but not here to preach :))


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