Barclaycard - Cash-Like Transactions

nickharris76

Hi,

I've just had an email from Barclaycard with some changes to T&C's. All pretty standard but one I'm not sure about (below). It mentions 'cash-like' transactions. Any thoughts if this includes paypal purchases (ebay etc)? And if so, how would they differentiate from paypal cash transfers?

Barclaycard Balances and Payments (Condition 3.1)
Previously Cash-Like Transactions and Gaming Transactions were treated as Purchases. These Transactions will now be treated as Cash and we'll charge a Transaction Fee and interest at the Cash Rate.
For clarity:-
Cash-Like Transactions include the sending of money orders or wire transfers.
Gaming Transactions include gambling, betting and other transactions relating to gaming, such as the purchases of lottery tickets or gaming chips or purchases made at gambling establishments or on websites.

Also not great for the gamblers!

Cheers,
Nick

bengalknights

I presume they will go off the MCC codes?

techspec

I got it too.

Capital one have been doing this for a while. I used to transfer money to my paypal top-up card, and it was classed as a purchase.

But suddenly is was beeing charged a £7.50 fee - so i stopped.

They are constantly look for ways to charge more.

Cell

Can anyone actually find a link to the new conditions?

It says that copies will be available from 28 May, but that's nearly three months away.

I'm all for companies giving out information in time, but 90% of people will have forgotten about it by then.

dasyad

ebm.cheetahmail.com/c/tag/hBPVKvvB8gDzJB8gFufAAGW1sV6/doc.html Append http:// at the start. Link is taken from the e-mail.

[EDIT]Content of mail below if you don't want to use the link

Dear

We're writing to tell you about some important changes to your Barclaycard Terms and Conditions. These changes will be effective from 28th May 2012, unless stated otherwise.

In addition and effective immediately, we've made a few changes to the wording of your Privacy Policy simply to clarify for you the way we use your information and how it may be used and shared by fraud prevention agencies. Please find below your Privacy Policy in full for your reference.

Please take time to read the information below to see how these changes may affect you.

Changes to your Terms and Conditions

Monthly Payments (Condition 2.1)
We've made a minor change to the wording of the minimum payments condition. This change doesn't affect the minimum payment amount you're required to pay each month.

Barclaycard Balances and Payments (Condition 3.1)
Previously Cash-Like Transactions and Gaming Transactions were treated as Purchases. These Transactions will now be treated as Cash and we'll charge a Transaction Fee and interest at the Cash Rate.
For clarity:-
Cash-Like Transactions include the sending of money orders or wire transfers.
Gaming Transactions include gambling, betting and other transactions relating to gaming, such as the purchases of lottery tickets or gaming chips or purchases made at gambling establishments or on websites.

Charging Interest (Condition 6.1)
Non-sterling cash withdrawals will benefit from up to 56 days interest free, if you pay your balance in full and by the due date shown on your statement each month.

Charges (Condition 8)
Condition 8.1: When you request a copy statement, the charge will be £2, reduced from £3.
Condition 8.2: Our fees have been simplified. Any cash withdrawals, Cash-Like Transactions, Gaming Transactions and non-sterling purchases will have a single fee of 2.99% (minimum �2.99). The minimum Transaction Fee will not be charged on Gaming Transactions and non sterling purchases. If you make a cash withdrawal in a non-sterling currency you'll just pay one Transaction Fee, rather than the two different fees as would be payable now.
Condition 8.3: When we send you a Balance Transfer offer, we’ll let you know what the fee is. This fee won’t exceed 5%.
Condition 8.3 is now renumbered as Condition 8.4.

How you can authorise payments (Condition 15)
Condition 15.1: We've made a minor change to the way we describe how transactions are authorised. It doesn't change the ways in which you can authorise transactions.
Condition 15.2: We've updated this condition to explain if you want to withdraw your consent to future recurring transactions, you can now tell us. We still recommend you contact the retailer first because they initiate the transactions. If transactions are still processed we'll refund them, together with associated interest and charges.

Why we might restrict account use (Condition 24.2)
We may currently stop card usage where there is a risk of fraud, for security reasons or if there is a significantly increased risk of non-repayment. We may now also decline individual transactions for these reasons.

General (Condition 25.6)
We've clarified your agreement is governed by the laws of England and Wales, unless your address was in Scotland or Northern Ireland when you signed your agreement, in which case the law of Scotland or Northern Ireland will apply.

How can you contact us? (Condition 26.1)
We've updated this condition to make it clearer to you what are the quickest and most efficient ways you can contact us.

Other important information

How can you use the account and card? (Condition 12.6)
We'd like to remind you when we make a balance transfer or credit balance refund on your behalf, we'll make sure that it's received in your other account by the end of the working day after we begin processing the payment. We'll begin processing the payment on the same working day you request the balance transfer, or the next working day if your request is received outside working hours. In certain cases, we may begin to process the payment on a specific day agreed with you at the time you made the payment request.

You can get a revised version of your full Terms and Conditions by calling Customer Services after 28th May 2012.

gt94sss2

Non-sterling cash withdrawals will benefit from up to 56 days interest free, if you pay your balance in full and by the due date shown on your statement each month.

This is an interesting T&C change - I wonder what's prompted it.

Lets hope other card companies follow suit.

As it is, this could mean that it will be better to use my Barclaycard (ex Egg Money) overseas rather than a f/x free card which charges interest..

Just need to check what the f/x loading is on Barclaycards...

Regards
Sunil

opinions4u

Cell wrote: »

Can anyone actually find a link to the new conditions?

It says that copies will be available from 28 May, but that's nearly three months away.

I'm all for companies giving out information in time, but 90% of people will have forgotten about it by then.

They are required to give 2 months notice of the change.

This gives card users the chance to adjust their usage to avoid the charges in future or move to a competitor.

If people then choose to forget, it isn't the card company's fault.

ankab

Dear Miss

Thank you for your email.

I would like to confirm that any transaction which is paid by card
to any financial institution is treated as cash transaction.

I trust this information is of assistance.

Should you have any query please get in touch.

Kind Regards,

Mrityunjay Singh
Customer Service Advisor
Barclaycard Customer Service Team

Would that mean that pay pal transactions-for purchases through ebay etc are not one of them?

ic

Dear Mr ic

Thank you for your -email.

I would like to confimr that all gambling and Pay Pal transactions will be
treated as cash and so you'll be charged a single transaction fee of 2.99%
(there is no minimum charge).

I trust this information is of assistance.

Should you have any further queries, please do not hesitate to contact me.

Kind Regards

Francis Gomes
Customer Advisor
Barclaycard Customer Service Team

Not good I can use another card for now, but I guess others will follow.

ankab

your Gomes at least answered your question. Not good. I wondered what's about general payments over the internet like amazon, paying for flights and other goods etc?

Rupert_Bear

I normally pay my water and council tax using my ex Egg card so I am hoping this will not attract any additional charges.