debit card question

hebron

I recently used my debit card to the amount of £4000 . This was rejected and a call from the banks fraud squad happened in minutes. While this was good it leads me to ask the question of how much I can spend or move with my debit card without sending alarm bells off?

Thanks.

Sceptic001

Why not ask them? They probably won't tell you because it would obviously be valuable information for fraudsters.

glider3560

It varies for each person. If you make a £4000 transaction every day then no alarm bells will sound when you make another £4000 transaction. But if you only every spend the odd tenner here and there, then £4000 will trigger alarm bells.

john_s_2

Out of interest, how did you pay for the thing you were buying? I used my card a few years ago to buy our car (approx £5k from a dealership plus part-ex on our old one).

Fortunately this went through (the money had been transferred to the account from our savings already) but I remember wondering at the time what on earth I'd do if it didn't.

Is it worth phoning the bank in advance if you know you're going to make some unusual expenditure? Or would they just assume it's all part of the scam?

McKneff

I am abaout to spend 4.5K split over 2 credit cards.
The best thing to do is pre-arrange it in advance.
I have done this and the cards will go through no problem.

evenasus

We have always paid for cars with my Nationwide debit card, the highest transaction being £15K after trade in and never been questioned by the BS.
Hmm - maybe a quick phone check by the BS wouldn't be a bad idea.

McKneff

Really for amounts like this you would be better paying with a credit card and then paying your cc with your debit card. The cc does give some protection if the company go belly up in between paying and getting the goods.
Its what i always do, and i usually get cash back with my cc anyway.

greyteam1959

McKneff wrote: »

Really for amounts like this you would be better paying with a credit card and then paying your cc with your debit card. The cc does give some protection if the company go belly up in between paying and getting the goods.
Its what i always do, and i usually get cash back with my cc anyway.

In these big spend situations you will find that there will be no charge to use a debit card but there WILL be a charge to use a credit card.
A debit card transaction will cost the retailer ( motor dealer etc ) a fee of maybe .23p.
A credit card transaction will be based on around a 2 % fee......no dealer is going to let you use a credit card and incur a charge on £4000 of £80 !!
They will certainly let you use your credit card BUT they will pass on the charge.

noh

McKneff wrote: »

Really for amounts like this you would be better paying with a credit card and then paying your cc with your debit card. The cc does give some protection if the company go belly up in between paying and getting the goods.
Its what i always do, and i usually get cash back with my cc anyway.

Except that most car dealers will only accept a maximum of £1000 or so on a credit card without asking you for a 2 or 3% fee.
The last time I purchased a new car I paid £1000 deposit by credit card and £21000 by debit card on collection. That amount went through with no problem or prior notification needed. That was Nationwide also.
That way you get the credit card protection if the goods aren't delivered.

McKneff

This afternoon i have just split two payments of 2.5K and 2k over 2 credit cards to pay for my new car, i negotiated with the dealer before the deal was done and he has not charged me for the transactions.

But yes youre right, i forgot about the extra charges but sometimes in some situations its worth the bit extra for peace of mind.

Friend of mine paid about 1K for a sofa from a well know place and they went into receivership, it was weeks of worry before she found out that some other company bought them and so she was able to get her sofa after all. She would have saved all the stress if she had paid the 2% or whatever it was for the protection.

I rang Nationwide and Amex yesterday and Nationwide said it was just as well that i rang them as they would have blocked it.

YorkshireBoy

McKneff wrote: »

This afternoon i have just split two payments of 2.5K and 2k over 2 credit cards to pay for my new car, i negotiated with the dealer before the deal was done and he has not charged me for the transactions.

He was probably satisfied with the profit achieved.

I'd have got his agreement on price first, and then asked for a further 2-3% (his costs) off the £4,500, giving £90 - £135 off the price if I paid by debit card instead.

I would have paid £1 of the balance on the credit card though...just so I still enjoyed full section 75 protection.