RBS - New charges

Al_Mac

Just heard about this on the radio.

The scarey bit, I think, is gift vouchers to be treated as cash advances:eek:

RayWolfe

Someone has to pay for folk who can't keep their accounts in order!

LittleVoice

I just wonder how they'll know that £10 spent on a book token at W H Smiths is a gift voucher rather than a book.

jamalfatty

LittleVoice wrote: »

I just wonder how they'll know that £10 spent on a book token at W H Smiths is a gift voucher rather than a book.

The merchant banks will probably issue new MCC (Merchant Category Codes) to retailers which they will use depending on type of transaction. This would immediately differentiate between type of transaction

LittleVoice

OK - but would RBS (and other card issuers no doubt) expect WHS to allocate £10 to a book token and £4 to stationery when the total spend is £14? This seems more work for the merchant - but perhaps they could pay a reduced fee to RBS for items coded for cash? I would see a lot of arguments arising between card holder, issuer and merchant.

SoozyJ22

As far as I know you can only have one MCC per transaction - so if you were buying gift vouchers and non-gift vouchers in the one transaction it would have to be either a gift voucher MCC or another MCC unless you were forced to pay for the gift voucher in a separate transaction.