Credit card that also functions as an ATM card?

toomuchdogfur on 02/05/2019 - 07:43

I recently got a credit card from ING thinking that I could also use it to draw cash from my ING checking account, but unfortunately this isn't possible.

Are there any banks that offer credit cards (NOT debit cards) that can do that? Ideally:

Tap and go or Credit option on POS device = routes to credit account
Checking and/or Savings options = routes to checking account (only need this to withdraw cash at ATMs)

Not after debit cards, because I pay my cards off in full every month so I'd like to have the extra benefits and protections that credit cards offer.

Thanks!

Financial Credit Card

Comments

  • JimmyF on 02/05/2019 - 07:56
    +6

    Any credit card from the big banks will do this and really any bank that you have a credt card and chk/sav account with (clearly you can't mix and match from different banks)

    My credit card does this

    Tap and go or Credit option on POS device = routes to credit account
    Checking and/or Savings options = routes to checking account (only need this to withdraw cash at ATMs)

    Tap/go is credit card, inserting card, you then select either credit or chq depending on what you want :)

    • toomuchdogfur on 02/05/2019 - 09:19

      Thanks, yeah I thought this was supposed to be the norm - found it odd ING didn't want to do that.

    • Kah on 02/05/2019 - 09:31
      +1

      Eftpos dropped the ball on this one, it took them years to get up to speed on how quickly people loved T&G, they have finally caught up, and some eftpos providers are now doing 'least cost saving'
      https://www.beanscenemag.com.au/tyro-launches-tap-save-ahead…

      Most cards from Major banks are both eftpos & Credit card, but it's up to eftpos provider to determine when to use.

      • tonyduffe on 03/05/2019 - 17:29
        +1

        Most cards from Major banks are both eftpos & Credit card

        Most debit cards and some credit cards are dual-network and have been for many years. But not all credit cards unfortunately.

        but it's up to eftpos provider to determine when to use.
        and some eftpos providers are now doing 'least cost saving"

        Actually, it's entirely up to the merchant that you are purchasing the goods from, they get to choose if they want to use least-cost routing. But they do need to have a terminal/merchant account that supports it.

        Eftpos dropped the ball on this one, it took them years to get up to speed on how quickly people loved T&G, they have finally caught up

        While it did take them awhile to catch up, Contactless eftpos has been available for quite awhile first quarter of 2016 on dual-network cards these are normally the ones with a Visa or Mastercard logo on the front. These are also the ones that have taken the longest before anyone could actually work out how to implement the use of them for contactless anyway.

        eftpos only cards have been in the market since early 2017 and it took most of 2017 for all terminals to be updated. With Albert been pretty much the only major terminal with issues still today, Most places were excepting them before the middle of 2017 except for some old terminals like at Australia Post which was one of the reasons why they eventually had to switch the terminals out incompatible with new things like this and Apple Pay Google Pay.

  • Gandalf the Thrifty on 02/05/2019 - 08:01
    +1

    As Jimmy says: Need savings account plus credit account from same bank and they link them into one card.

    You need to be careful you don't hit credit at atm though, otherwise you get a cash advance on credit card.

  • Skramit on 02/05/2019 - 08:43

    I had this with my ANZ credit card and it was super handy. but after leaving them my new bank cant do it :(

    Any of the Big4 should be able to do this for you.

    • djkelly69 on 02/05/2019 - 09:47

      Did you have to do anything special to arrange this? I have just moved everything over to ANZ and this sounds useful (mainly for one less card to carry around).

      • Skramit on 02/05/2019 - 09:48
        +2

        No, just rang their call centre and asked for my savings account to be put on to my credit card as a Cheque option to withdraw cash. This was a 5+ years ago so its a bit foggy on the details but it wasnt hard if I recall.

        • MitchyD1989 on 08/05/2019 - 16:07

          Can confirm that's still the case, just called then after reading this thread as I didn't know it was possible before then. All done and linked in less than 2 minutes. Now I can stash my Access Advantage card away and carry one less on me.

  • [Deactivated] on 02/05/2019 - 08:56
    -2

    Why not just have 2 cards?
    I have my credit cards (Amex and cba platinum) on my Apple Pay
    I have my eftpos (cba platinum debit) in my wallet

    That way I don’t get them confused.

    • toomuchdogfur on 02/05/2019 - 09:27

      https://www.youtube.com/watch?v=7jXhohODBVk

      But seriously now, I have considered putting everything on my phone and forgoing my wallet entirely, but I still have to carry my driver's license and some cash.

      I could get a phone case to carry that stuff, but then that'd bulk up the phone… so then I'd have a slim wallet to carry that stuff. And at that point, I might as well just carry the credit card in there too for the 5% of cases where a shop doesn't have a tap terminal.

  • Marcsie on 02/05/2019 - 09:58

    I had this with CBA at least 15 years ago :)

  • tonyduffe on 03/05/2019 - 17:07

    toomuchdogfur, Does the Orange One card on the back have the eftpos logo? If so they should be able to connect it up for you.

  • random12 on 05/05/2019 - 12:30
    -3

    If you put a credit card into an ATM, enter your pin and try to withdraw money it will count as a cash advance.

    I do not think the ATM is smart enough to know you have a transaction account ( if you have with the same institution that issued your credit card , at all ) and take money from that.

    It will very likely count as a cash advance, which is a loan on your credit card, and will result in a cash advance fee and a very large cash advance interest rate charged from the day you withdraw.

    Dont use a credit card to withdraw cash. Is it really that hard to carry both the credit and debit card? Use credit for purchases and debit for withdrawls

    • kerfuffle on 05/05/2019 - 16:02

      You pick which account you want to withdraw from, that’s how the ATM knows which account …

    • tonyduffe on 05/05/2019 - 16:03

      I do not think the ATM is smart enough to know you have a transaction account

      Yes it is, Specially when the ATM is located here.

  • R1ngSt1nger on 06/05/2019 - 18:52

    ANZ you can definitely do this.

    Just go into a branch and ask them to link your credit card to your transaction account.

    Then when at an ATM, CR = credit and SAV = transaction account.

    PayWave will also default to credit.

    • MitchyD1989 on 08/05/2019 - 16:05

      Damn, I never knew this was possible. Called ANZ and asked and it was all linked in 2 minutes. To think I've been carrying my Access Advantage card on me unnecessarily for years, lol.

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