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Debit Card without Cheque Guarantee Function

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  • 09-10-2009 6:32pm
    #1
    **Timbuk2**
    Moderators, Education Moderators, Motoring & Transport Moderators Posts: 7,395 Mod ✭✭✭✭


    I've recently got a Debit Card from Ulster Bank, which doesn't have a cheque guarantee function - just debit card function and ATM function.

    According to the 'fine print' that came with the card
    If you have a card that displays the Visa Debit logo and the card does not have a cheque guarantee facility, you will only be able to use your card at a retailer or supplier of services where they can authorise the transaction with us at the time of the transaction being made. If this is not possible, the transaction will be declined.

    Forgive my stupidity, but what does this mean?Will this affect many POS systems? I've heard that some only authorise transactions at the end of the day - that they process them offline while the card is being used rather than in real time.


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    #2
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    I imagine they would be authorising them at the time of sale, and then processing them later.

    If it helps, my halifax one isn't a cheque guarantee card either and i haven't had problems using it anywhere bar lidl which ofcourse is for different reasons.


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    #3
    **Timbuk2**
    Moderators, Education Moderators, Motoring & Transport Moderators Posts: 7,395 Mod ✭✭✭✭**Timbuk2**


    Thank you for the reply! It was helpful!


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    #4
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    Davy wrote: »
    I imagine they would be authorising them at the time of sale, and then processing them later.

    If it helps, my halifax one isn't a cheque guarantee card either and i haven't had problems using it anywhere bar lidl which ofcourse is for different reasons.

    Excatly, the cheque guarantee is only if you pay for items with cheques, this guarantees the retailer €130 when paying with a cheque.
    POS transactions are a seperate thing. The machine automaticly debits the account. It wont show for a while thought and some cards have a limit of €1500 pos transactions per day.


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    #5
    **Timbuk2**
    Moderators, Education Moderators, Motoring & Transport Moderators Posts: 7,395 Mod ✭✭✭✭**Timbuk2**


    Do all POS systems process transactions online in real-time (i.e. there and then)?

    My account doesn't have an overdraft facility. I'm guessing that if POS systems weren't processed in realtime the transaction would be rejected as it could possibly force my account into an overdraft. Would this be the case, or would it just process the transaction anyway - and the account would go into a forced overdraft?


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    #6
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    **Timbuk2** wrote: »
    Do all POS systems process transactions online in real-time (i.e. there and then)?

    Most places do, it depends on the retailer. The bank will authorize the transaction but it could be a a while before it shows on the account.
    **Timbuk2** wrote: »
    My account doesn't have an overdraft facility. I'm guessing that if POS systems weren't processed in realtime the transaction would be rejected as it could possibly force my account into an overdraft. Would this be the case, or would it just process the transaction anyway - and the account would go into a forced overdraft?

    If there is no money in your account the bank could still allow the transaction, but you will be using an unautorized overdraft which has fee's and interest attached. I forget I had a Direct Debit on an account and no money in it. The bank allowed it and contacted me to tell me they allowed it but had to charge me.


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