Help please! What is dom quasi?

smileyt_2

Hello

I hope someone can help. I have just received my asda credit card statement and there are four odd entries on there. Each transaction is entitled 'dom quasi cash advance fee' and is for £3.00 each time. I am stumped as to what this is.I have e-mailed asda credit card services from my 'manage your account' page but wondered if anyone had heard of this.

I have joined four bingo sites via quidco in the last two weeks but only laid down the minimum deposit needed to get the cashback. I can only think it may be in some way related to this, but then I have checked those accounts and there is no extra money showing in them.

Has anyone else had this?

Thank you for any help anyone may be able to give.

NickX

smileyt wrote: »

I have joined four bingo sites via quidco in the last two weeks but only laid down the minimum deposit

Bingo sites will be classed as gambling and treated as "Cash Advance" transactions. You will be charged a fee (around £3) for each of these transactions.

Cash Advances usually incur an immediate fee and will start accruing interest straight away at an inflated extortionate rate. Not adviseable unless you have money to burn.

I suggest you pay your card off in full and put this down to experience. Unlucky.

smileyt_2

NickX

Thank you for your really quick reply. I'm a bit of a numpty aren't I? I didn't realise this was the case. Can I just clarify that I've understood properly - does this mean that every time I've used my credit card to join one of these sites and deposit money, the credit card has charged me £3.00? And they will charge this everytime I make a deposit? Not that I intend to make more deposits! Luckily I had a large-ish win (first time lucky) on one of them so at least I'm still in front and quids-in.

Doh!

Well, I'm off to walk my dogs now but will log back in later. And I will post a warning on the quidco/bingo threads because I bet I 'm not the only one who will be caught like this.

Thanks again for your help.

NickX

smileyt wrote: »

Can I just clarify that I've understood properly - does this mean that every time I've used my credit card to join one of these sites and deposit money, the credit card has charged me £3.00? And they will charge this everytime I make a deposit?

That is my understanding, yes.

However I should say that I am not an expert in this matter because I do try and avoid Cash Advance transactions like the plague, but certainly from what I have read you have got it now.

COUSCOUS_3

that is correct. it is a cash advance fee and i was caught out by this also.

mlhifi

I, too, was caught out by this "charge" due to the Grand National, the one and only time I have EVER bet on anything!
I will not, however, be paying my card off and putting it down to experience! I am witholding this money and they can sue me for it!
There was no indication this was going to be charged. I WILL be paying off the other balance, however, and getting myself another credit card.
This is literally robbery and I will fight it to the bitter end! I urge anyone else in the same situation to do the same. They can NOT be allowed to get away with this and I, for one, will make damn sure they don't!

NickX wrote: »

Bingo sites will be classed as gambling and treated as "Cash Advance" transactions. You will be charged a fee (around £3) for each of these transactions.

Cash Advances usually incur an immediate fee and will start accruing interest straight away at an inflated extortionate rate. Not adviseable unless you have money to burn.

I suggest you pay your card off in full and put this down to experience. Unlucky.

benroles

I would strongly advise that you CHECK whether your terms and conditions state that this fee will be charged before holding back money... To take a random lender (Egg in this instance) it's quite clear that this charge will be made:

a handling fee of 2.5% of the amount of each gambling transaction (minimum fee £2.00);

Other's will state it under their cash advance terms (e.g. nationwide):

"cash advance" means obtaining cash, foreign currency or travellers' cheques, or gambling, using the card. The maximum amount of cash advances is 50% of your credit limit;

Many credit card T&Cs will have a similar condition.

And it's worth noting that the gambling sites do not need to mention this charge because it is not THEM that is imposing it. i.e. you request £30 deposit at an online bingo site. They request this off your card and the money is put in your virual account. HOWEVER, your card provider processes this amount and then adds on their own fees. Some sites, however, will maybe warn you that your card issuer could impose charges (although to be honest, not many cos really they couldn't give a damn as long as they get your money!)

As other posters have said, this is incurred at the time you make the account and similarly your are charged at the cash advance rate of interest from the date of processing. Annoyingly, since cash advances are usually the last thing to be paid off a card it means until the card is completely clear you are forever paying a very high interest rate on that purchase.

B.

normanmark

mlhifi wrote: »

I, too, was caught out by this "charge" due to the Grand National, the one and only time I have EVER bet on anything!
I will not, however, be paying my card off and putting it down to experience! I am witholding this money and they can sue me for it!
There was no indication this was going to be charged. I WILL be paying off the other balance, however, and getting myself another credit card.
This is literally robbery and I will fight it to the bitter end! I urge anyone else in the same situation to do the same. They can NOT be allowed to get away with this and I, for one, will make damn sure they don't!

I hope for your sake you don't stay stubborn on this as you're on a losing path.

It's outlined clear in the T&C's that gambling transactions are treated as cash advance. You don't win credit from the bet do you? You win cash.

If i was in your position i would pay it off as soon as possible & if anyone wants to use a card for gambling transactions then use a debit card.

JOANNE1970_2

Hiya, I've just received my Asda Credit Card statement too, and I've had the same charges ('dom quasi cash advance fee') . Thanks for clearing the matter up for me, it's been bugging me all morning. Mine too was down to betting online on the Grand National. I'll stick to other methods for depositing money into my account if I decide to have a little 'flutter' in the future.
Thanks again.
J

anotherpaul_2

mlhifi wrote: »

I, too, was caught out by this "charge" due to the Grand National, the one and only time I have EVER bet on anything!
I will not, however, be paying my card off and putting it down to experience! I am witholding this money and they can sue me for it!
There was no indication this was going to be charged. I WILL be paying off the other balance, however, and getting myself another credit card.
This is literally robbery and I will fight it to the bitter end! I urge anyone else in the same situation to do the same. They can NOT be allowed to get away with this and I, for one, will make damn sure they don't!

So, you didn't read your terms and conditions properly and you're going to get back at them by messing up your credit rating? For £3?

I see a lot of downside for you and almost none for them.

Seriously, get over it, move on and vow not to make the same mistake again. Some battles are really not worth fighting.

(Speaking as someone who's made the same error.)

offo777

I have just been caught too, paying my half yearly subscription to the football pools with my Asda card. I never had the same problem previously using a different card. I guess you live and learn.