Santander Zéro unexpected charges

gerdar

I've had my Zero card for years and never incurred any charges. On my last 2 statements there are Quasi cash interest charges. I can find no explanation for this on Santander's site. Any ideas?

born_again

You must have used it to purchase something like foreign currency or a financial product that is classed as a cash purchase.

HillStreetBlues

On any type transaction that is classed as cash  interest starts the from the day of the transaction.
Also could be  something wrongly flagged as that type of transaction.

Ebe_Scrooge

As above, you'll have bought something that's treated as a cash transaction.  Foreign currency is a favourite, gift cards are another one that catches a lot of people out (usually, if you buy a gift card from the supermarket along with your food shopping, it's OK.  But sometimes if you buy a card from a dedicated gift-card retailer/website, it'll go through as a cash advance.).  There are several things that will be treated as cash, unfortunately it's not always easy to identify them.

grumbler

gerdar said:

I've had my Zero card for years and never incurred any charges. On my last 2 statements there are Quasi cash interest charges. I can find no explanation for this on Santander's site. Any ideas?

https://www.santander.co.uk/assets/s3fs-public/documents/zero_credit_card_key_facts_document_new.pdf

Interest on cash transactions is charged immediately so there is no interest free period. Please note cash transactions include cash withdrawals, purchase of travellers’ cheques and gambling. It will therefore cost you more to use your credit card for cash transactions rather than purchases.

born_again

Well you can scrub Gambling as it was banned from April 2020

https://www.gamblingcommission.gov.uk/news/article/gambling-on-credit-cards-to-be-banned-from-april-2020

Waleswetwindy

Can see this post is 2 yrs old. I also have zero credit card for years and this is the first time I have been charged with this quasi interest. Will ring Santander to find out more 

CliveOfIndia

Waleswetwindy said:

Can see this post is 2 yrs old. I also have zero credit card for years and this is the first time I have been charged with this quasi interest. Will ring Santander to find out more 

The answer will be the same - you'll have bought something that's classed as a cash transaction.  Foreign currency, gift cards, sometimes payments to government agencies such as fines.  Anything ring a bell?

CliveOfIndia

born_again said:

Well you can scrub Gambling as it was banned from April 2020

https://www.gamblingcommission.gov.uk/news/article/gambling-on-credit-cards-to-be-banned-from-april-2020

Sorry to quote an old reply, but just in case it's useful to the recent poster (or anyone else reading this).

It's illegal for a UK registered gambling company to accept credit cards.  However, the law doesn't extend to foreign-registered companies.  So if, for instance, you go on holiday to Las Vegas, you may be able to use your credit card to gamble there - and it would be classed as a cash transaction.

Some card issuers do stop their cards from being used for gambling transactions anywhere - but that's down to the card issuer's policy, rather than UK law.