A question about Virtual Visa withdrawals at ATM machines.
 

I'm very happy and surprised to be getting anything so this is not a moan. LOL But I thought about this last night as the ATM was giving me some of my money.

The amounts you can withdraw are in 1,000s of CZ Krowns. 1,000, 2,000 and so on.

We can only draw out $320 at a time and have $400+ in there, so withdrew 4,000 CZK. And will get the other 4,000 tonight. 8,000 @ an exchange of $1 = 19 CZK = $421 which I think we will just clear. If we don't it will have to be 3,000 CZK.

7,000 @ an exchange of $1 = 19 CZK = $368.

So the bank keeps $30 to $40 of our money. Multiply that by the 1,000s withdrawing their money and it's a nice earner. Not that a bank is bothered about earning an extra half mil but not to be sniffed at. :winkwink:

They love to exchange money in their favor.

You could use the rest to pay for something small like food. Or using VV online.

Anyway just from all the fees the bank will probably get few 10$ average from each account, and several accounts will probably never get verified.

Yeah use the rest at a store or restaurant.

I've heard it works at namecheap too

yep NameCheap confirmed, renewed some domains yesterday

You can't use a virtual visa at the ATM. It's virtual, remember?

yep I just deposited $200 on my NC account... (vv)

Paul you can answer all you own questions with the answer "i'm just not a smart person"

Godaddy works too!

they will earn big this way

bah, I've never been to a country where at the ATM you don't have an option to ENTER the amount that you want to withdraw; there could be a minimum I guess, but it is more likely to be $10 or $5 and not 1000 koruna (?) wchich is more than $50

Here the only notes the machines hold now are 1,000 notes. So if you enter 1500 it's not going to work.

Thanks for the tips about using it for small items. Never used my Epass card for that in all the years I've had one. :)

remember to add another 3% to official currency exchange

Paul, you're going to the wrong ATMs. Citibank lets me withdraw in 500czk steps and here in Panska is Ceska Sporitelna (i think) and there i can withdraw in 200czk steps