credit or savings account????

[sue2oz]

hi guys could someone please help me out, i have a bank account here in oz and i just dont know the difference between credit and savings account when i shop with me card they say credit or savings? i useally say credit but now money has gone into my savings account:confusedxmas: i dont get it! whats better to stick with credit or savings,

hope someone understands me coz i dont:laughxmas:

 

suexxx

[Guest cornish Busdriver]

G'day Sue.

I was just as confused as you.

When paying for stuff, if you choose credit it takes ages to show on your account.

If you choose savings it show end of the working day.

Silly system, i went into my bank and asked.

Matt

[Guest Django]

Anything to do with finance is beyond me. All I know is we have a savings account and it seems to work fine.:unsurexmas:

 

 

Pete

[Guest Nick11]

Gotta admit I don't understand.

Always use savings. Don't you have to sign for credit instead of using a pin?

[Guest Richard & Amanda]

Just to throw a spanner in the works....

 

When they ask me credit or savings I say CHEQUE don't ask me why I haven't a clue but that is what I got told to say.

 

they never seem to say cheque account though its always the other two...weird system

and I have to think twice what the answer is half the time!!!

 

hey ho each to their own!

[ozzieclare2be]

i say cheque too, was also told, no adea why lol :smilexmas:

[Rachiegarlo]

Depends on which card you have, most visas come with a pin no. now.

 

If your eftpos card is linked only to your savings or cheque account then you press savings/cheque.

If your card is also linked to visa ie credit then you press this and usually no fee is chrged for the transaction.

[Guest Kazzarazza]

The banks here allow you to "link" accounts so you only need to have one card in your wallet and you only have to remember one pin number - so your card is both a credit card and an ATM card. If you choose credit at the shops the purchase gets charged to your credit card account and should show on your next monthly statement, if you choose savings it is withdrawn immediately from the balance in your bank account - therefore you need to make sure the money is in there so you don't get overdrawn. Obviously this will only be the case if you have all your accounts with the one bank. good luck.

[Scousemouse]

Hi, i always say CHECQUE...............................think it works the same way as the uk........which explains why my balance is soooo very depleted

[Guest sjs]

hello sue

 

well !!!!!!!!!!!!!!

 

we have the same problem ! we have always said credit as im sure this is what they told me - but i was so jetlagged i may be wrong. however i have been selecting credit and as someone else says it takes forever to show on our statement which really confuses things ALOT - so anyway in the post office today they said they could not take credit for less than $10 so i chose savings and it worked ! i have yet to take a look at the account but i am presuming it will have come off immediately to save all the confusion.

 

we will work it out soon enough - need to meet up again soon

 

speak soon

 

sarah jane x

[Guest Aussie pat]

I'm still confused. Before we received our credit card and were just using our debit card the CBA staff told us to say 'credit'. They said it meant that certain security checks would be carried out even if it was only a debit card. There was nothing on our credit balance when we got our credit card and all of our previous transactions had been debited from our account.

 

Don't know what to think now.

 

Hedy

[Guest Kazzarazza]

I'm still confused. Before we received our credit card and were just using our debit card the CBA staff told us to say 'credit'. They said it meant that certain security checks would be carried out even if it was only a debit card. There was nothing on our credit balance when we got our credit card and all of our previous transactions had been debited from our account.

 

Don't know what to think now.

 

Hedy

 

Hi Hedy. As you have received two cards from the bank (sounds like you got a credit card seperately), I would go in and see them and ask them to link all your accounts to the credit card and ask them to get rid of the other one. It's easy to do and makes life so much simpler - I think it's a great system..... one card, one pin number. Good luck. PS We are with the CBA too so it's definitely possible.