Why can't I by Euros?

Flyboy152

paddyrg wrote: »

It may be more to do with cash/currency advance fees - if you withdraw in EUR it may be treated as a currency advance, so have a different interest and charges position than if you withdraw GBP and exchange the cash.

I would understand that a little if it was credit card, but as I said in the OP, I was trying to use my debit card. But then, I can't see why I would need identification for a cash advance on my credit card.

Flyboy152

s_b wrote: »

is money not covered under the sale of goods act then?
amazed flyboy hasnt got an answer for this one
hes got an answer for every motor trader in england:D

What the flipping 'eck are you on about now?

paddyrg

Flyboy152 wrote: »

I would understand that a little if it was credit card, but as I said in the OP, I was trying to use my debit card. But then, I can't see why I would need identification for a cash advance on my credit card.

I'm just thinking that being a debit card, it would invoke a different set of costs and charges for a EUR withdrawl than for a GBP one (assuming your account is GBP!). It would depend on how the financial institutions are set up, and what may seem obvious on the surface may be a bigger question when you break it down into the stages their systems use.

For instance, a GBP withdrawl on a GBP account over the counter via a debit card probably attracts a (hidden from you, but inter-bank/LINK) cost/charge of 30p. But doing it in EUR means it is not via LINK but via VISA, attracting a cash advance fee and currency charges, plus an exchange rate. So what seems simple may actually be more complicated under the covers depending on how it gets handled.

And because it is a cash advance, the toughest fraud to recover, I can see why they may invoke ID if you are not known to them as a regular. Look at it the other way, how would you feel if they didn't ID someone who had stolen/cloned your card and emptied your account?

I don't know if any of this is the case, but have worked with enough systems to know the story is usually more complicated than it appears on the surface, so the above is a guess.

Loanranger

I bought some Australian dollars today from M&S. I was asked for ID, which I didn't have, so paid cash instead of using my debit card.
Certainly didn't kick up a song a dance about being asked for my passport or driving licence.
Life is just too short, Flyboy.

asbokid

Loanranger wrote: »

I bought some Australian dollars today from M&S. I was asked for ID, which I didn't have, so paid cash instead of using my debit card.
Certainly didn't kick up a song a dance about being asked for my passport or driving licence.
Life is just too short, Flyboy.

this shows that the exchange bureaus are not worried about money laundering.. they are wary of falling victim to card fraud. perhaps the card companies are holding the bureaus partly liable if they haven't got adequate safeguards against fraud.

Flyboy152

paddyrg wrote: »

I'm just thinking that being a debit card, it would invoke a different set of costs and charges for a EUR withdrawl than for a GBP one (assuming your account is GBP!). It would depend on how the financial institutions are set up, and what may seem obvious on the surface may be a bigger question when you break it down into the stages their systems use.

For instance, a GBP withdrawl on a GBP account over the counter via a debit card probably attracts a (hidden from you, but inter-bank/LINK) cost/charge of 30p. But doing it in EUR means it is not via LINK but via VISA, attracting a cash advance fee and currency charges, plus an exchange rate. So what seems simple may actually be more complicated under the covers depending on how it gets handled.

And because it is a cash advance, the toughest fraud to recover, I can see why they may invoke ID if you are not known to them as a regular. Look at it the other way, how would you feel if they didn't ID someone who had stolen/cloned your card and emptied your account?

I don't know if any of this is the case, but have worked with enough systems to know the story is usually more complicated than it appears on the surface, so the above is a guess.

None of this really fits the situation as I was buying a product, goods to the value of seventy-five pounds and the retailer (in this case, the Post Office) was charging my account in sterling. It wouldn't have made any more difference if I was buying bread from Sainsbury's in my local High Street.

One doesn't get "cash advances" from debit cards. The money is withdrawn direct from ones current account.

Any fraud committed would be against the cardholder not the retailer. I don't get asked for identification when I withdraw money from a bank, using my card, nor do I get asked for identification when I buy that bread from Sainsbury's and I ask for a cashback.

mynameisdave

I went to Poland in 2007 and had to suply ID to buy Zloty on a debit card. Oddly I didnt need to proovide ID to buy cash charge-free on the M&S Credit Card.