Capital One - Cash transaction limit

OceanSound

Hi everyone,

I was wondering if we can set limits on cash transactions.

Did contact Capital One to ask my daily cash transaction limit and limit on a single cash transaction.

Reply said my daily cash withdrawal amount is £250 per day. Nothing about cash transactions.

So, I message them again and ask again. This time they repeat the cash withdrawal limit (£250 per day) but also mention that 'there is no limit for online cash transaction'.

I have £1500 limit on the card. I'm a bit worried that the card in the wrong hands could spend £300-£500 in a single cash transaction and I could be liable for this. Is there any practical solution to this? Can CapitalOne set a cash transaction limit? (as opposed to a cash withdrawal limit - which is already in place). My Barclaycard has a daily limit already. (The cash transaction/withdrawal limit is the same)

Maybe if I contact Capital One and ask if they can set the single cash transaction limit to £250 and daily cash transaction limit to £500. If they can, could it turn out to be a bad idea, because it limits my options to put a bet on worth £251?

[Deleted User]

Why would they do that?

That would also mean they should be able to set a purchase transaction limit.

I don't know of any cards that offer either

OceanSound

!!! wrote: »

Why would they do that?

That would also mean they should be able to set a purchase transaction limit.

I don't know of any cards that offer either

Barclaycard offer cash transaction/withdrawal limits:
http://help.barclaycard.co.uk/brochure/credit_cards/withdraw-cash

They must have valid reason(s) for it!

BoGoF

That link wouldn't stop someone purchasing something above the limit - is that what you are trying to achieve?

OceanSound

I contacted capitalone and asked if a daily cash transaction limit of £200 could be set. Answer is 'no, not able'. However, I was invited to call the support line to discuss further.

Does anyone think calling would bear fruit?

jonesMUFCforever

OceanSound wrote: »

I contacted capitalone and asked if a daily cash transaction limit of £200 could be set. Answer is 'no, not able'. However, I was invited to call the support line to discuss further.

Does anyone think calling would bear fruit?

I would leave well alone!
For example just assume that you have a gambling addiction then calling them and giving them hints about why you want this done might be an excuse for them to block future transactions - in effect closing your account (to stop you getting into further debt).

If it is not for anything like this - don't make the call.

Ben8282

If the card were somehow to be in the wrong hands I don't believe that the thief would be any more likely to make a cash type transaction than a purchase transaction.

SnowTiger

OceanSound wrote: »

I have £1500 limit on the card. I'm a bit worried that the card in the wrong hands could spend £300-£500 in a single cash transaction and I could be liable for this.

If someone used your card to make unauthorised (cash) transactions the most you would pay is £50. That's if you were negligent.

If you weren't negligent you'd pay nothing.

See here.