Why does my lloyds Visa work when i dont have money in my Account ?
How come they have taken it when i have no money ?
Anyone want to explain
Answers:
In the USA, purchases under $35.00 are generally not verified.
Why u want explainations. Spend spend spend
Apparently there's such a thing as a shop floor allowance. It means that up to a certain amount, authority is just given automatically.
cause its a visa, you will get a bill from the bank, its like buying goods on credit
You'll have a nice letter in a couple of days from your bank with a huge fee attatched to it.
More importantly - what Pizza did you order?
The answer is twofold.
Mostly it's because the machines don't actually check the amount of credit remaining for small value transactions (the amount varies according to the merchant) - they simply check the card number isn't on a blacklist and that you've entered your PIN correctly.
The second is because the bank can now charge you for your indiscretion and that's how they make their money.
You may, however, find that your card does get blacklisted if you do this a lot.
because a visa card is not checked against the available balance (unlike a visa electron that is). it is checked against a database of cards that decides whether you are leikely to be good for the debt.
as it wont be a large amount for a pizza, chances are it didnt even look, just said yes straight away.
however - consider these 2 facts.
1 - you are going to go overdrawn and your bank will hit you with a HUGE charge to cover it.
2 - using the card when you know you dont have the funds to cover it is technically illegal, so start praying your bank doesnt decide to involve the police. (ok no need to pray, they would rather have the charge from you, but it is technically illegal)
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