Debit Cards

[msmacawber]

If I have the available funds in my account is there a limit as to how much I can spend on my debit card?

[stoo_pid]

There's usually a daily limit (about �250)

[Loosehead]

Well if there is it's not �250 I bought a car for > �6000 once, as long as you have cleared funds in the account I don't think there's a limit but for larger amounts they'll do a froud cheque, for example in the above transaction I had to speak to the bank to prove it was me!

[Loosehead]

That's a "fraud check"

[Sammy Snake]

For cash machine withdrawals there is usually a limit of c�250 but for any other type of payment, there is no limit as long as you have available funds.

[twiglet4frog]

not sure about nowadays machines but when i worked with tills 5 years ago and we swiped the debit cards it used an phone line to connect to the bank and check the amount in your account, if there wasnt enough the machine would come up "Insuficient Funds" and it wouldnt allow u to further process the transaction. That was the days that u still signed the slips of paper!

[stoo_pid]

Duh!  That'll teach me to read the question properly next time

[stevie21]

Probably more detail than you want but if you're there in person with your card (especially now, if you've input the PIN) then there's no limit on what you can spend as long as your balance covers it. In certain cases, the payment will not be immediately approved by the bank who will instead "refer" the payment for extra security checks and only "authorise" it once they're satisfied that no-one's stealing your money.
These extra checks often involves you getting on the phone to the bank while stood there trying to buy your speedboat.

If you're not there in person and the payment is online or on the phone then, in practice, there IS a limit as these transactions are much less safe/secure.
The limit changes quite often, and perhaps even changes depending on the type of merchant that you're spending the money with. e.g. car showrooms may have a higher limit than online casinos.
Also the banks don't disclose this limit otherwise fraudsters would just spend a fiver less than that figure.

Anyone still awake?

[kato2000]

no you can spend what money you put on the card but there is a limit on how much you can put on the card some are 5000 limit and 10,000 limit.

[MarkRae]

I bought my current car on my Barclays debit card. A quick three-way conversation between my branch manager, the salesman and me was all it took. Quite scary, really, when entering my PIN into the dealer's authorisation machine just as if I was paying for a meal in a restaurant...