Credit Card ATM -£300 a day limit? - But why did this happen?

Meganjones

We Needed some cash fast,

so decided to take out £300 from the ATM from our MBNA credit card out (I know there will be fees etc)


Wanted to take out £600, within 1 hour. (but within the space of 2 days)


There is a £300 max per day

First withdrawel = 11.40pm, then waited in the car for 30 minutes

Second withdrawel = 12.10am (the next day, as it was past mid night)

so withdrawel 1, was done in 1 day, then the 2nd withdrawel was done on potentially the second day,


Withdrawal 1 worked, got £300, but withdrawel 2 said they couldn't process it.


Isn't this odd? the machine had Cash in, as I tried with another card and it worked, but if both withdrawals were potentially on different days, then they should have both released £300, making us have £600 cash, right?


Why do you think the 2nd transaction didn't work ?


Has this happened to you ?

The Card is MBNA

boo_star

Perhaps the limit is per 24hr period?

LABMAN

Possible fraud prevention kicked in?

boo_star

LABMAN wrote: »

Possible fraud prevention kicked in?

This would be my other guess.

If you don't typically withdraw cash then two £300 transactions within 30 minutes of one another may well set alarm bells ringing.

Meganjones

LABMAN wrote: »

Possible fraud prevention kicked in?

boo_star wrote: »

This would be my other guess.

If you don't typically withdraw cash then two £300 transactions within 30 minutes of one another may well set alarm bells ringing.

Thanks. The machine didn't eat the card.

Does that mean if we wait 24 hours, or even 48 hours, and try again, (even if £100))

they ATM might allow another withdrawel,
(by giving some time of 48 hours)


or there is the risk the machine might swallow the card ?

boo_star

Meganjones wrote: »

Thanks. The machine didn't eat the card.

Does that mean if we wait 24 hours, or even 48 hours, and try again,

they ATM might allow another withdrawel, even if £100 ?
(by giving some time of 48 hours)

Fraud blocks typically won't result in a card being eaten.

Meganjones

boo_star wrote: »

Fraud blocks typically won't result in a card being eaten.

If it is a block, does that mean it wont work at an ATM for withdrawel?

or it could still work, after a 24-48 hour period by trying ?

boo_star

Meganjones wrote: »

If it is a block, does that mean it wont work at an ATM for withdrawel?

or it could still work, after a 24-48 hour period by trying ?

It won't work anywhere until it is unblocked.

They'll need to speak to you to confirm that the transactions are genuine.

Typically they'll phone you up to do this although I imagine they don't do this outside of business hours, most customers probably wouldn't appreciate being woken up in the middle of the night.

You could always phone them yourself and ask if it is indeed blocked.

redux

I suspect the changeover from one day to the next might be actually at 2 or 3 am rather than exactly midnight.

Anthorn

In my own personal experience, it does happen with credit cards and also debit cards that there is a daily limit imposed on cash withdrawals including ATMs. But this can usually be changed depending status by applying for it. Personally, I like that as a security measure and will seek to add it if not already imposed.

The way around the cash withdrawal limit is usually to get cashback with your shopping.

For example, my TSB Classic Plus has a daily cash limit of £300 whereas two relatives who have a TSB Cash account on my recommendation have a daily limit of £200. Going back into the mists of time, my National Girobank and Girobank plc accounts had a daily cash limit of £200, Alliance & Leicester increased that to £300 and Santander UK increased it to £500.

Sharon87

Anthorn wrote: »

In my own personal experience, it does happen with credit cards and also debit cards that there is a daily limit imposed on cash withdrawals including ATMs. But this can usually be changed depending status by applying for it. Personally, I like that as a security measure and will seek to add it if not already imposed.

The way around the cash withdrawal limit is usually to get cashback with your shopping.

For example, my TSB Classic Plus has a daily cash limit of £300 whereas two relatives who have a TSB Cash account on my recommendation have a daily limit of £200. Going back into the mists of time, my National Girobank and Girobank plc accounts had a daily cash limit of £200, Alliance & Leicester increased that to £300 and Santander UK increased it to £500.

Cashback works, but you can't get cashback from credit cards at the tills... I used to work in Asda and it never was an option.