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Contactless funds not being taken for 5 days

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  • 08-02-2017 1:39pm
    #1
    Irishgirl2015
    Registered Users Posts: 17 ✭


    Alright so im with bank of ireland and discovered that when you tap for any amount of purchases the funds dont be taken till 5 days later most bank cards only let you tap 3 times but mine I can seem to tap as many times as I like which is useful and dangerous as im -165 euro at the moment I got a bit too carried away with tapping. Why does it take so long to be taken from your account? Its handy if you dont mind being slightly overdrawn what are your thoughts on these contacless cards?


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    #2
    5rtytry56
    Closed Accounts Posts: 2,828 ✭✭✭5rtytry56


    Does your student account with the bank include an overdraft facility OP. ? if so what is the limit? This may have something to do with it.


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    #3
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Contacted transactions are done offline, so they're not tallied right off and only get removed when the vendor provides the receipt for the purchase to your bank. It's the only way contact less can work, currently.

    Overdraft or no, a contactless transaction can overdraw your account.


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    #4
    ladygoodman
    Closed Accounts Posts: 51 ✭✭ladygoodman


    They are handy when needed, but I would stay away - spend what you have and only use contactless when necessary or if you are 100% aware of what you are spending and earning.


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