FNB credit card transaction limits?

[DrJohnZoidberg]

Does anyone know if there are any transaction limits (for point of sale) on FNB premier credit cards? I'm not referring to the credit limit, but the actual transaction limit if there is a positive credit in the account.

For example if I put R500k in the card could I use that for a transaction at a store? I cannot find any info on this on internet banking, can only find limits on my cheque card.

 

[supersunbird]

I don't think there are transaction limits...

 

[ScottulusMaximus]

The limit is the available balance on your card, no transaction limit. Although a speedpoint device may have a limit on the receiving end.

 

[DrJohnZoidberg]

The limit is the available balance on your card, no transaction limit. Although a speedpoint device may have a limit on the receiving end.

Thanks.

 

[SauRoNZA]

No there shouldn't be a limit.

Often they'll just ask for identification to process a transaction of a rather large amount.

 

[HibiscusTunes]

Does anyone know if there are any transaction limits (for point of sale) on FNB premier credit cards? I'm not referring to the credit limit, but the actual transaction limit if there is a positive credit in the account.

For example if I put R500k in the card could I use that for a transaction at a store? I cannot find any info on this on internet banking, can only find limits on my cheque card.

No limit, I know someone that purchases his vehicles like that.

 

[rendan]

The bank will call you immediately after the transaction though, if it's the first time you're transacting a large amount. Maybe tell your banker that you plan to do the transaction before hand. shouldn't be a problem.

 

[StrontiumDog]

No limit, I know someone that purchases his vehicles like that.

Most dealers would refuse that though due to the charges they would have to pay? Or are they not allowed to reject that payment method?

 

[Venomous]

Most dealers would refuse that though due to the charges they would have to pay? Or are they not allowed to reject that payment method?

Any store/dealership that has a card machine agrees to the card machine provider's merchant agreement. One point is that the merchant may not place limitations on purchases. Any merchant that does, breaks the agreement terms.

 

[JayM]

Any store/dealership that has a card machine agrees to the card machine provider's merchant agreement. One point is that the merchant may not place limitations on purchases. Any merchant that does, breaks the agreement terms.

You'll find that if you pay by EFT, you'll suddenly get an extra 3% discount.

 

[CathJ]

I wanted to pay for my car like that - for the sake of the ebucks - but the dealership said no :-(