Cash out with Credit Card purchase

[Happy Dude]

I notice that when paying with visa or MC at Safeway, you can swipe your MC or Visa card at any time during the process (ie as the checkout chick is doing her/his thing). This results in the option to pay either the sale amount or another amount (or words to that effect).

So, I'm wondering if it's possible to get cash out by putting in an amount more than the groceries are worth? Would this be like an eftpos transaction but with the benefits of appearing as a larger (combined) transaction and earning CC rewards points accordingly, and not appearing as a cash advance? Anyone done this with their CC?

 

[opusman]

I notice that when paying with visa or MC at Safeway, you can swipe your MC or Visa card at any time during the process (ie as the checkout chick is doing her/his thing). This results in the option to pay either the sale amount or another amount (or words to that effect).

So, I'm wondering if it's possible to get cash out by putting in an amount more than the groceries are worth? Would this be like an eftpos transaction but with the benefits of appearing as a larger (combined) transaction and earning CC rewards points accordingly, and not appearing as a cash advance? Anyone done this with their CC?

I do that all the time (swipe before checkout is complete) and have never been offered the option of a different amount. Are you sure you're picking 'credit' and not 'savings'?

If it was allowed I imagine it would be treated as a purchase, not cash advance, but I'd be surprised if it was allowed.

 

[Happy Dude]

I do that all the time (swipe before checkout is complete) and have never been offered the option of a different amount. Are you sure you're picking 'credit' and not 'savings'?

If it was allowed I imagine it would be treated as a purchase, not cash advance, but I'd be surprised if it was allowed.

Just checked the CC transactions and the safeway transactions are there, plus I signed rather than used a PIN, so hopefully that indicates I'm pressing the 'credit' button.

I was a bit surprised to be offered an amount other than the sale amount and that got the mind ticking over.

I'd be surprised if it was allowed too, but I don't see (read understand) what the difference relative to an EFTPOS transaction would be.

It'd be win-win for everyone, wouldn't it? I'd get cash and a few extra reward points. The CC company gets an inflated balance on which to charge interest, when applicable. Nowt for the vendor but that's the same for an EFTPOS transaction anyways, so it shouldn't stuff up their cash flow.

Most places have a limit as to how much cash out they give as part of an EFTPOS transaction, so the likelihood of someone getting cash out just for 50-100 points or so, and then putting it straight back onto the CC (and repeat) is fairly low I'm guessing.

 

[opusman]

I'd be surprised if it was allowed too, but I don't see (read understand) what the difference relative to an EFTPOS transaction would be.

The main difference as I understand it is that in a credit transaction the merchant pays a percentage of the sale price in fees, whereas in an EFTPOS (debit) transaction the merchant pays a flat fee irrespective of the amount of the transaction.

 

[JohnK]

I have been asked many times at Woolworths and Coles whether I wanted cash out with my purchase on the Amex. I do not have the cash advance feature enabled on the Amex but if it went through as a "purchase" instead of cash advance then one could potentially earn more points. Could be worth a try if the transaction was allowed....

 

[Rick93]

I get asked all the time at Woolies.

I say, " If you can get me cash from an AMEX card, then I'll take it..."

" Oh, sorry, we don't do AMEX cash out..."

( then stop bloody asking me !!! )

GORDO

 

[oz_mark]

I tried it once to see what would happen. Transaction was not accepted. I put it down to a user interface defect..

 

[JohnK]

Generally I find the younger, inexperienced, check-out operators ask if I want cash out with Amex credit card. The experienced check-out operators do not bother asking....

 

[serfty]

They are taught to offer cash out - I'm not exactly certain why; perhaps having less cash around the place increases security ...

 

[vilemerchant]

They are taught to offer cash out - I'm not exactly certain why; perhaps having less cash around the place increases security ...

Yeah if you can hand out all your cash in cashouts you dont have to do as many safe-drops and there's less money to count at the end of the day