Cashback

[lankeela]

If you get cashback from a supermarket, does it count as withdrawing cash or is it still possible to also withdraw the cash limit at a cash machine on the same day? Going away today and just realised I can only get £250 cash from the machine in one day. Also is there a cashback limit?

[Connemmara]

while we are on this subject - can anybody tell me how does Asda (particularly) when they offer you cash back - what does Asda gain from it. Was always curious about that.

[Mamyalynne]

It is not so much what they gain rather what they would lose if they did not give Cashback, customers may go elsewhere.

[ummmm]

Dave...yes, in all the supermarkets I've used.

Conne - they gain nothing but your custom so the way to look at it is what have they got to lose.

[EcclesCake]

Shops don't gain from giving cash back, they are charged by the bank.

[Connemmara]

Errr not understanding this so much - so I pay for my groceries with my card then they offer me cash back on the card - sorry - so they worry about losing custom as I can go anywhere else - it doesn't seem to make much sense to me - and it is only £50 -

[Connemmara]

so then Eccles - banks actually charge eg Asda - so is Asda not "losing" then

[RATTER15]

I can withdraw £300 in one transaction from my Santander account and I cannot withdraw any more for 24 hours.

[boxtops]

It's just a convenience they offer you, do you want any money while you're here? I'm glad they, my local ATM is in the town, the shop's over the road.

[Connemmara]

sorry Ratter - your post was answered.

[sunny-dave]

It's a 'no loss' service for the store - they pay a fixed amount per debit card transaction, so an extra £50 on a transaction costs them nothing.

In fact they actually like 'cashback' because it reduces the amount of cash they then have to pay into their own bank each day (and so may actually save them a few pennies).

[Connemmara]

right thanks all for your answers. But think I deserve best answer for getting extra money - go to your Bank's ATM lift the limit - then walk into bank and get same. Good luck. Bye

[Mamyalynne]

Sorry if my answer confused you Conne, in the early days of Cashback I would hear people say 'I am going to such a store, because they give Cashback' - say you then wanted to go on the Market and needed ready cash.

[Connemmara]

Mamy don't worry about it I was "ALWAYS CONFUSED" by other postings too but think I have got there.

[Connemmara]

that's news Methyl. ta for that

[mccfluff]

mines £400 in bank & £400 atm - if available funds, so guess i won't be trying that out any time soon