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Quasi Cash - VISA

  • 16-03-2014 9:58am
    #1
    Registered Users Posts: 1,897 ✭✭✭ wingnut


    Very occasional better (6 nations only for fun). Lodged money into paddy power and noticed a separate charge for 'Quasi Cash'. Looked into it and apparently its treated as a cash advance. I was surprised because I had never heard of this before, is it common knowledge?


Comments

  • Registered Users Posts: 2,584 ✭✭✭ Delta2113


    PTSB only brought it in late last year and I forgot that they did and I got hit €2 for making a €5 payment via Paypal.

    I know Paypal *PP Online on my statement means I've used Paypal and not paid the bookmakers directly by credit card.


    Is the bank entitled to use the PP Online info to charge me the Quasi Cash Fee or should they only be charging me this if I paid directly with my credit card and did not go through Paypal?

    Are they chancing their arm by manually picking my payment out as a betting payment?


  • Registered Users Posts: 2,584 ✭✭✭ Delta2113


    "CASH ADVANCE: means the use of the Card for the purposes of
    obtaining cash or cash substitute (including for the purchase of quasi
    cash, i.e. the purchase of tokens or chips for the purpose of gaming or
    placing bets on the internet or otherwise) or other benefits through use
    of the Card, the Card number and where appropriate, in conjunction with
    the PIN for debit or credit to the Account pursuant to the Agreement."

    The above is the small print!


  • Registered Users Posts: 894 ✭✭✭ Salvation Tambourine


    Quasi Cash is actually the method of payment the bookies use. They don't get the money you lodge straight away so you're kind of buying credit on the account when you lodge money on PaddyPower etc.


  • Registered Users Posts: 2,874 ✭✭✭ purplecow1977


    Can anyone explain this term to be in simple language?
    I happened across this thread as I had typed 'quash cash fee' into Google.
    I just noticed it on my credit card online statement and wondered was it was for.


  • Registered Users Posts: 320 ✭✭ The_Banker


    apologies for resurrecting an old thread but this quasi fee annoys me..>

    It only seems to be charged if I use my VISA Credit Card and not if I use my VISA Debit card...

    Surely this is just a charge/fee by a different name? If I withdraw money using my VISA I am charged a "cash advance fee" and not a quasi fee.

    My question is... who gets the money (the quasi fee) is it the bank, is it VISA or is it the bookmaker?
    I suspect it is the bank and they are just using it to increase revenue.


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  • Registered Users Posts: 3,716 ✭✭✭ 3DataModem


    The bank


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