Re:On Cash
by andirk on Sunday October 14, 2018 @05:15PM
(#18215383)
Here in San Francisco Bay Area, you can use your debit card and the charge is identical to an ATM. If your purchase is $31.50, you're charged $40 (like an ATM) and given the difference back as cash.
[ Parent
| on HN ]
Do they really charge a 9.50 transaction fee?
No. They give the $9.50 back to you. But on paper, you took $40 out of an ATM. On their end it's like you handed them $40 and they owe you change.
No, it's a method to preserve purchaser privacy.
* You purchase some goods.
* Store triggers an 'ATM' withdrawal of a multiple of $20 that is greater than the cost of your purchase.
* You actually buy your goods with cash behind the scenes.
* The teller hands you your change from the cash transaction.
Same as having an ATM next to the checkout counter but the customer doesn't have to do the awkward step.