Do banks charge more for using a pin instead of contactless?

Pauliedragon · 21-11-2021 12:27am #1

As per title I work retail and our contactless is down. Some people got annoyed and refused to enter the card with pin. Someone told me the banks charge more for inserting the card as opposed to tapping? Is this true and if so why?

Atlantic Dawn · 21-11-2021 12:29am

Yes AIB do anyways. Reason is to speed things up, nothing worse than some tool trying to remember a pin. Some people unaware they can change their PIN at any ATM to something more memorable like 1234.

Jim2007 · 21-11-2021 12:37pm

https://www.boards.ie/discussion/2058218974/do-banks-charge-more-for-using-a-pin-instead-of-contactless

There is no generic answer, it depends on the bank and the financial products they have from the banks. Most people are motivated to get free banking so it’s a fair bet they know what it will cost them.

coylemj · 21-11-2021 4:47pm

AIB currently charge 20c for a debit card purchase but are waiving the fee for contactless. BoI charge a flat fee of €6 p.m. for current accounts so it makes no odds for their customers if they put the card in the POS machine or tap.

cnoc · 21-11-2021 4:53pm

Do AIB and BoI charge fees for senior citizens?

cnoc · 21-11-2021 4:54pm

N/A

coylemj · 21-11-2021 5:00pm

https://www.boards.ie/discussion/comment/118201934#Comment_118201934

AIB Advantage and BoI Golden Years accounts are for people aged 66 and over and are free of most charges.

https://aib.ie/our-products/current-accounts/advantage-account

https://personalbanking.bankofireland.com/bank/current-accounts/golden-years-account/features-benefits/

beachhead · 21-11-2021 5:01pm

I pay a government imposed charge annually in arrears for each and every transaction whether pin or contactless it makes no difference.There is a limit in the charge.It could be e6.50 a year - can't remember the blurb from my bank.

beachhead · 21-11-2021 5:03pm

https://www.boards.ie/discussion/comment/118201934#Comment_118201934

Could have a reduced charge scheme or non existent fees.Their websites would show whichever is offered.Credit Unions advertised no fees for their current accounts-on a debit card.

The J Stands for Jay · 23-11-2021 11:20am

https://www.boards.ie/discussion/comment/118202003#Comment_118202003

What country is that in?

coylemj · 23-11-2021 1:46pm

https://www.boards.ie/discussion/comment/118209819#Comment_118209819

ATM, debit and combined cards

The rate for ATM cards (also known as cash cards) is €0.12 per ATM withdrawal to a maximum of €2.50 per card.

There is no charge to a debit function only used in a year.

The rate for combined cards (ATM & debit) is €0.12 per ATM withdrawal to a maximum of €2.50 per card where only the ATM function is used during the year.

The rate for both functions used in a year is €0.12 per ATM withdrawal to a maximum of €5.00 per card.

https://www.revenue.ie/en/property/stamp-duty/other-stamp-duty/financial-cards/atm-and-debit-cards.aspx

The J Stands for Jay · 23-11-2021 1:52pm

https://www.boards.ie/discussion/comment/118210586#Comment_118210586

I pay a government imposed charge annually in arrears for each and every transaction

This person is paying for every transaction, not just using an ATM.

coylemj · 23-11-2021 3:13pm

https://www.boards.ie/discussion/comment/118210620#Comment_118210620

He may be paying for every transaction but only if he doesn't hit the cap. Which he mentioned in his post but it's not as high as he claimed. It's a max of €2.50 per transaction type - €2.50 for ATM withdrawals and €2.50 for debit card usage. If you ask for cashback, it only counts as a debit card transaction.

daheff · 27-11-2021 10:45am

https://www.boards.ie/discussion/comment/118201884#Comment_118201884

How does that work where you have to put in the pin from time to time ?

Citrus_8 · 28-11-2021 11:53pm

https://www.boards.ie/discussion/comment/118231056#Comment_118231056

If you have to enter a PIN, then it's not contactless and AIB charge 20c for that.

Do banks charge more for using a pin instead of contactless?

Comments

ATM, debit and combined cards