Laser Cards-are transactions limited when no money in a/c?

S

spirit

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Hi, just wondering does anyone know about using your laser card if there is no money in your acccount? I used it once when I thought there was money in my account for a transaction, when in fact there was no money in there. Just wondering is there a limit on laser cards that they will allow you go over?
 
Re: Laser Cards-are transaction limited when no money in a/c?

Please use more meaninful titles for your questions in future. I have edited this one.
 
Re: Laser Cards-are transaction limited when no money in a/c?

Two things:

1. The transaction may not have been processed while there was no money in your account.
2. If this results in an unauthorised overdraft, the interest and penalties could be quite high, so be careful.

Read the ts and cs of use that came with the card. I'm sure this scenario will be covered.
 
Sometimes transactions will be refused because of lack of funds. It depends on
-- who the shop use to process transactions
-- the value of the transaction
-- who you bank with
-- the overdraft limit on your account

Debit (and credit) card authorisations are gradually moving "online", so that balances will be checked in realtime, before transactions are approved.
 
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