Society & Culture

No longer able to use credit facility on Debit Cards

Society & Culture

Posted by: terribrown

29th Apr 2010 03:37pm

As of 15 April 2010 Big W does not allow us to use our Visa debit card as a credit facility.
They say it is to recoup costs charged by the banks but they are still using credit cards -so that does not make sense.
Banks have always encouraged us to use the 'credit' facility so as not to use up all our allowable Eftpos transactions in any month.
When I complained to their Head Office I was told that the other large retailers will follow them in this. Any other opinions on this?


Kat
  • 2nd Aug 2010 01:55pm

People don't seem to realize that this is an issue about the banks they use and not the retailers (i can't believe I'm about to defend big business here... TOTALLY out of character for me!) If your bank has encouraged you to press the "credit" button in order to not use up your allowable EFTPOS transactions, and you NEED more EFTPOS transactions than your account allows fee-free, then you really need to change your bank account or your shopping habits.

The banks LOVE it when you to press the credit button because as soon as you do, the retailer is hit with an extra fee- so the banks make extra money out of the transaction. This fee doesn't get charged when you hit the debit button- the only charge then is yours & ONLY if you have mismanaged your spending & gone over your transaction limit. (which the banks are ALSO happy for you to do!) The retailers are now waking up to this gradually since extra fees mean that their profits are lower. When retailers profit margins start to fall, they COULD respond by once again using it as an excuse to raise the prices of essentials like groceries. I know I'd rather press the debit button than to give the retailer an excuse to raise prices- and I have ALWAYS pressed the debit button in the small retailers who I like to support & encouraged others to do so too. So understand that the only people making money out of this are the BANKS.

The majority of people that are complaining about this either don't understand how the credit/debit facilities work, or are the ones who have not shopped around the banks for the account that suits their spending habits best. If this is a problem for you- talk to your bank & be prepared to take your banking elsewhere if you can't find an account that does what you need it to do there.


Cancel

Help Caféstudy members by responding to their questions, or ask your own in Café Chat, and you will get the chance of earning extra rewards. Caféstudy will match these and donate equally to our two chosen Australian charities.

Food Bank Australia not only plays a lead role in fighting hunger, but also a vitally important role in tackling Australia’s $20 billion food waste problem and helping the environment.
Australian Marine Conservation Society are an independent charity, staffed by a committed group of scientists, educators and passionate advocates who have defended Australia’s oceans for over 50 years.
ReachOut is the most accessed online mental health service for young people and their parents in Australia. Their trusted self-help information, peer-support program and referral tools save lives by helping young people be well and stay well. The information they offer parents makes it easier for them to help their teenagers, too.