It is possible to go overdrawn even if just using a Visa Electon debit card alone.
There is a popular misconception that as payments made in shops and on websites with Visa Electrondebit card are checked with bank to see if there are sufficient account funds, that one can't go overdrawn if one just uses Visa Electron, but one can, as unlike withdrawing cash from a ATM the amount is not debited from the account straight away but takes 3 to 5 days, so one can make multiple payments with a check being against only balance that does not include the other payments. This was not clear to me, and on that card I was unable to check my balance as it did not work in ATMs or at Post Office, only for debit payment at shops, but that is another story. I found this all this to my cost in unauthorized bank charges which I can ill afford and I will try to reclaim, but that is a real hassle.
Also although not as bad as it used to be visa electron is least accepted payment type especially online. The similar Solo seems accepted sligthly more widely, but still not as much as none balance checking cards. Both Solo and Visa Electron as debit cards often have less fees than credits card when paying online for things such as flights.
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The ONLY way you can go overdrawn is if the retailer's system does not authorise the transaction immediately with the bank. Some do this for VERY low transaction amounts, such as £1 or less.
TBH you shouldn't be running the account that low/should know how much is in there before making a purchase anyway. The fact that transactions take 3-5 days to clear is irrelevant, the Available Balance is deducted immediately.
HotBabes 31.07.2006 15:47
Welcome to Ciao. I was under the impression that whilst your card was being processed at the point of sale it only authorises payment if there are sufficient funds. My sons certainly gets debited the same day. :-)
tiger645 31.07.2006 14:21
Welcome to ciao! Good first review. To get higher ratings try to add as much detail as you can. Have a look around the site to get a good idea of what to include and how much to write. The first review is always the hardest so don't worry! If you want me to re-rate or if you need any help drop me a note in my guestbook. x
Jul 31st, 2006
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