Brendan said:6) Load up your Credit Card before you go abroad and take out cash on it.
There is no cash advance fee.
i have to agree with this in principle, i like loading my CC when going to the states but i have been warned by bank officals that they are not liable for anything over the credit limit, that is extra money you put on to have it in debit.Murt10 said:Extremely dangerous.
If your card is in pre-loaded and in credit, and you are probably talking about a couple of thousand for a family here, and if that money is fraudently taken from your account, the bank is not liable. You have to suffer the loss of the amount that the card was in credit for yourself. It could turn out to be the most expensive and least enjoyable holiday you have ever had, at least, I cannot imagine how I could possibly enjoy a holiday after finding out that someone had taken 2-3 grand off me.
Murt
I like loading my CC when going to the states but i have been warned by bank officals that they are not liable for anything over the credit limit, that is extra money you put on to have it in debit.
That sounds handy. Find out how long the transfer will take though.Ron Burgundy said:I recently moved to bank of ireland and i notice on the banking 365 you can set up payments or transfers in advance so maybe that the way to go for me.
Isn't it the case that funds fraudulently taken from a current account (e.g. via Laser skimming) are covered in part or full? Why would a CC account be different?MugsGame said:If after a debit transaction you have a debit balance (you owe the bank money), you've borrowed from the bank, and are protected by the Consumer Credit Act. The situation where after the transaction you still have a credit balance (you've preloaded the card) is greyer as the Consumer Credit Act does not apply. But I'm not convinced the bank can disclaim all responsibility for acting on fradulent instructions, despite T&Cs or what they tell you.
CCOVICH said:Using the cash advance facility can be a useful way of accessing money when abroad if you pre-load your card, i.e. lodge money to put your balance in credit. There are no withdrawal fees (none charged by the card provider, however the ATM provider may levy a separate charge), and the foreign exchange rate is generally more competitive than changing cash at a bureau de change. You should be aware that you may be liable for any unauthorised withdrawals/fraud on the card while the account is in credit, so exercise caution if building up a credit balance on your credit card as a means of accessing cash.
Such as...?Marion said:depending on the circumstances.
Unless this can be independently corroborated via the terms & conditions I would not take their word for this.I also rang BOSi and was informed that if a card were preloaded that it would not be covered for fraud
I find this hard to believe. Surely this would only be the case of c. €13K or more was lodged and the normal money laundering flagging rules applied?and they also mentioned that if a card is preloaded it is flagged as suspicious under money laundering acts.
Marion said:I also rang BOSi ... and they also mentioned that if a card is preloaded it is flagged as suspicious under money laundering acts.
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