Cash Back Charges

amiga1

I have an account with Barclays. I've just been looking at my latest statement and on the rear there is a notice regarding charges for using your debit card. It states that cash withdrawls are free from Barclays UK cash machines but there is a fee of £1.50 for getting cash over the counter anywhere other than Barclays. Does this mean I'll being paying £1.50 for using Cash Back in my local Tesco' or does it only apply when using other banks?

I suspect it's the latter, but you never know with banks

fatboyonadiet

Think it is the latter - doubt you would get charged for cashback

MarkyMarkD

Cashback isn't a cash advance and there's no charge made by any UK bank for this AFAIK.

newfoundglory

Yeah, the cashback at supermarkets is free (its simply added to the bill and taken from your account as normal). The thing is, ATM withdrawls are only free because they are processed through LINK and not the Visa network.

This is why if you take your Visa debit card to another bank (other than Barclays) which displays the Visa sign - they would have to process your debit card through the Visa network (because this is the only way they can access your account) and thus attracts a Visa charge (which your bank then passes on to you - albeit in an inflated form with profit on top!). Same applies to ATM withdrawls in the UK where the ATM isn't on LINK (quite rare) or anywhere in the world where LINK obviously doesn't exist! This idea also applies to buying foreign currency with your card other than at your own bank (say, at another bank, an independent website etc)... hidden fees can be involved as the transaction will again be processed through Visa.

Nationwide being the only provider to pay this Visa processing charge for you, the interchange fee, and hence foreign ATM usage with Nationwide cards is also "free"!