How do electronic bank card transactions work?

Answer When you put your card in, and your pin and your option for cashback (if any). Then the shops systems contact the payment network of what card your using (e.g. Visa, Maestro, Solo etc), The payment... Read More »

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Top Q&A For: How do electronic bank card transactions work

Is there a way that I can stop my mum from looking through my bank transactions?

A minor has no right to privacy. Your parents can do whatever they like.

Can anyone tell me which bank websites show PENDING transactions when you sign into your current account?

I am not sure if any Bank sites actually show 'Pending' transactions, but with my Bank (Ulster), it shows me a balance and an 'available' balance - if there is a difference in the two figures, I kn... Read More »

Is it Illegal to Add a Surcharge on Credit Card Transactions?

The use of a credit card when making a purchase generally costs the vendor who is receiving the payment some money. This is because the credit card company charges the vendor for each transaction c... Read More »

Why do shops have a minimum spend for credit/debit card transactions?

Because of the cost to them of processing the transactions, small amounts cost too much