I'm feeling really naughty tonight, so just wanna vent my feelings about Westpac Bank treating CC deposits to a so called gambling site (eg Sportsbet etc) as a CASH advance,..... this is absolutely discraceful, most banks treat it as a purchase (which is of course in our favour) they (the Bank) still receive a commision (presumably) from the trader so why hit US again???? if you are with Westpac write to them as I have done and express your dissatisfaction, the more of us that do so the better the chance of a u-turn!

If they will not relent then cancel your card and TELL THEM WHY

I hope it's only Westpac that do that!

Umm. Credit card deposits ... gambling!!

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Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash

Crash, as far as I know its only westpac, but Citibank will not let you deposit to a so-called gambling site at all, CBA, and ANZ no probs at all it is treated as a purchase. anyone know about any other cards?

but it is a cash advance

unless im missing something

stugots, no it is NOT a cash advance, it's a purchase that's the point, Westpac treat it as a cash advance so you pay 1&1/2% charge instantly + interest from day 1, ***edited*** is the only word for that as the Trader (Sportsbet etc) pay them also a % just the same as a purchase.

CBA & ANZ ( and maybe other banks?) treat it correctly as a purchase, so you have up to 55 interest free etc.

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As what is occurring is not breaking the law, for legal reasons we need to be very careful about any words used to vent one's dissatisfaction. Moderator.

Technically I reckon it is a cash advance. What have you purchased?

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Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash

Crap. By your logic Angry, anything purchased by credit card is [technically] a cash advance!

Buying soap or buying a $100 block of punting money with someone is a purchase, not a cash out [where is the 'cash'?].

As what is occurring is not breaking the law, for legal reasons we need to be very careful about any words used to vent one's dissatisfaction. Moderator.

My mistake there moderator, appologies.

Angry, crash is correct, think about it; how many things you could pay for with a cc (I'm talking about "services") where you don't actually receive any goods???
A cash advance is where you walk into the bank and draw cash from your CC, and walk out with the readies, (or ATM or Net Bank of course)

No a cash advance is a personal loan against your credit card regardless as to whether you've recieved cash in hand or not. Your borrowing money from the bank to gamble with. You've recieved no product or service.

Regardless of the semantics, if one is now doing it they all will follow suit.

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Pixie

"It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash