A new way to withdraw money without charge?

liuyangor

Hi all,

I was wondering - instead of paying a fee to use my credit card in the cash machine (which I don't anyway out of principle) - if I used the "cash back" facility which has been offered by ASDA or co-op,etc. - Does the credit card company make any charges? Does the credit card company regard it as "cash withdraw"

When I last heard them offer it I didn't have a credit card but I do now and was wondering if the service would be useful to me?

I am now using the capital one credit card, does this company charge it? Or different companies have different policies?


Many thanks,
Yang

nomoneytoday

You can only do cashback with Debit cards...

ShelfStacker_3

There's a technical protocol which is used to do cashback on debit cards (it sends a different command to the card processors, basically) which either isn't present on credit cards or not supported by the processors on credit cards. Unless ASDA's implementation contravenes every known guideline laid down by their card processor, there's no way of getting cashback on a credit card (and no, at least on our till systems at work the cashier can't manually enter a higher card transaction amount and get change, it simply won't let them.)

Moreover, ASDA would be charged a percentage of your purchase amount + cashback amount, rather than just a flat fee like with debit cards. It wouldn't be worth it to them, financially.

If you really want to go this route, you could buy some high value item and then immediately return it for cash, but they may not (if not should not) allow you to do this and even if they do they might well call you a cheapskate under their breath, and as far as I'm concerned they'd be entirely justified

chuckley

go to ur local newsagent and ask them for 'whatever amount u need off the CC'. they will charge u up to 50p. so if u want £30. they will process 50p and then £30 cashback and u wont get charged as it counts as a purchase of £30...

thats what i do