Why do some bullion sellers not take debit card payments?

It's possible they're using the term "debit card" to refer to the EFTPOS network. EFTPOS gives you the SAV and CHQ options to pull money straight out of a bank account.

Visa or Mastercard can pull money out of a bank account too, but they do it via the credit (CR) function. If it's a credit card, the funds are drawn from a credit facility you've negotiated with the card issuer. If it's a debit card, it uses the same logic but the credit facility only extends as far as the balance you have in your bank account.

In that respect, your Visa/MC branded debit card is functionally the same as a credit card.
 
I am yet to see a online site that accepts debit card for any one off purchase. Very different to signing up for Direct Debit authority?
If we are talking about Eftpos, can a vendor even key in the numbers manually and you are going to give them the pin?

Also Eftpos have very different consumer and merchant protection
 
Silverling said:
I've tried using debit cards for travel too but the web site picks it up and won't let it get processed. Also, upon checking into a hotel they always ask for a swipe of your credit card as security. I thought I'd be smart and thought ok, I'll give them my visa debit card (one that I have only $2 in) and if they try to charge me for something I didn't buy they won't get away with it. Guess what, it gets picked up at reception, sorry sir this card is a debit card and you must use a credit card.

I am only guessing here but maybe a valid credit card with a sizeable limit is a better guarantee for the merchant than a debit card that might have only $2 in it. But then again Visa debit works on the visa system so surely they could run checks on balances. Any bankers out there?
Click to expand...

This is because Hotels use CC facilitate hold X dollars
 
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