Shopping Discussion

Costco in Store Purchase Payment Options

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  • Mar 21st, 2022 3:35 pm
[OP]
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Feb 16, 2014
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London

Costco in Store Purchase Payment Options

I recall back in 2017 when I was shopping in Costco in store, I could use my TD debit card at cashier station and it was showing I could use either my saving account or checking account to make a payment. Is this method of purchase still available?
I have my Capital One Costco credit card which will soon be changed to CIBC Costco credit card, but was curious to know that the old way of paying by cash by using the bank account is still a possibility.
20 replies
[OP]
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Feb 16, 2014
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London
PointsHubby wrote: You prob haven’t got a reply cuz the info is right on the Costco website

Under TERMS OF PAYMENT
That doesn't answer my question. What I was asking is that on the cashier POS terminal when I, in the past, was using my debit card, it was showing on the screen that I can pick from either checking account or saving account to pay for purchased items. Not sure if it is still there. The provided link only shows that we can use debit cards. :)
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Sep 27, 2003
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Yes, you'll be asked to choose chequing or savings provided you insert your card into the chip reader (vs. tapping).
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Jan 3, 2014
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This is Canada. We don't have checking accounts, so that isn't an option.

Debit payment terminals in Canada typically provide the ability to select from a chequing or savings account when Debit is selected as the payment method - it has nothing to do with Costco or any other retailer, but it has everything to do with how your card is set up by your bank.

For example, if you select 'savings' at the debit terminal selection screen but you don't have a savings account set up on the card (even if you have a savings account at the bank) the transaction will fail faster than the movie CATS.
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Jun 13, 2010
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esfandiyar2002 wrote: That doesn't answer my question. What I was asking is that on the cashier POS terminal when I, in the past, was using my debit card, it was showing on the screen that I can pick from either checking account or saving account to pay for purchased items. Not sure if it is still there. The provided link only shows that we can use debit cards. :)
Because that's all that is necessary to show. All debit card transactions allow you to select your account at all retailers, that's how it works. Costco isn't going to force you to use a specific account.
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Feb 7, 2017
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ALLCAPS wrote: This is Canada. We don't have checking accounts, so that isn't an option.

Debit payment terminals in Canada typically provide the ability to select from a chequing or savings account when Debit is selected as the payment method - it has nothing to do with Costco or any other retailer, but it has everything to do with how your card is set up by your bank.

For example, if you select 'savings' at the debit terminal selection screen but you don't have a savings account set up on the card (even if you have a savings account at the bank) the transaction will fail faster than the movie CATS.
This

It’s whatever account you’ve set up at the bank to access funds from for your Debit Card

Indeed most folks would naturally opt for cheQUing vs savings when they do the set up
Cuz well ..
Most of us see Chequing as being for our day to day short term needs
And savings for longer term needs

If you need to use funds from your Savings Account
You are supposed to actually transfer them over to Chequing
As AN ACTIVE ACT basically saying to the bank … I know what I am doing …
I am now foregoing getting interest on this portion of my money etc

Gosh it’s not rocket science
And super easy enough to do now with online banking
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Jan 19, 2017
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esfandiyar2002 wrote: I recall back in 2017 when I was shopping in Costco in store, I could use my TD debit card at cashier station and it was showing I could use either my saving account or checking account to make a payment. Is this method of purchase still available?
I have my Capital One Costco credit card which will soon be changed to CIBC Costco credit card, but was curious to know that the old way of paying by cash by using the bank account is still a possibility.
the easiest way to find out is to try it out next time shopping there before Capital One Costco credit card is changed to CIBC.
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Jan 9, 2011
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My question is why the OP who already has a credit card he could use and earn cash back, would even want to use a debit card to pay and get nothing in return. I only use a debit card to pay at a merchant that doesn’t accept credit cards. I can count on my fingers how many times that has happened in the last 20 years lol.
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Aug 29, 2011
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I have more than one account linked to my debit card. If I use tap it'll pull funds from the first account in my list. If I insert the card, I at least get to choose which account.
[OP]
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Feb 16, 2014
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London
Kiraly wrote: My question is why the OP who already has a credit card he could use and earn cash back, would even want to use a debit card to pay and get nothing in return.
That is a very good question. It is because due to the food cost crisis, I am not a regular customer in Costco anymore with weekly purchases of roughly 250 bucks each time and I now rely on cheaper sources to choose from. That means I will be in Costco once or twice a month with limited budget just to purchase stuff that I cannot find anywhere cheaper in bulk and it is exclusive to Costco according to my family needs.

My go to monthly or possibly biweekly budget would be $150-200 at most which is not worthy in terms of two percentage cash back in a year anymore. To compensate this higher prices, I now work part time in a grocery store which gives me 10% associate discount card every time I purchase grocery & food stuff. It gives me better value when I purchase cheaper food stuff there.

Not everyone is in a secure financial status to ignore the high rise of living costs. :)
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Jun 13, 2010
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esfandiyar2002 wrote: That is a very good question. It is because due to the food cost crisis, I am not a regular customer in Costco anymore with weekly purchases of roughly 250 bucks each time and I now rely on cheaper sources to choose from. That means I will be in Costco once or twice a month with limited budget just to purchase stuff that I cannot find anywhere cheaper in bulk and it is exclusive to Costco according to my family needs.

My go to monthly or possibly biweekly budget would be $150-200 at most which is not worthy in terms of two percentage cash back in a year anymore. To compensate this higher prices, I now work part time in a grocery store which gives me 10% associate discount card every time I purchase grocery & food stuff. It gives me better value when I purchase cheaper food stuff there.

Not everyone is in a secure financial status to ignore the high rise of living costs. :)
I get it but you can use any MC at Costco. I use my PC MC and get "free" PC Optimum points over using a debit card where I would get nothing.
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Jan 9, 2011
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esfandiyar2002 wrote: That is a very good question. It is because due to the food cost crisis, I am not a regular customer in Costco anymore with weekly purchases of roughly 250 bucks each time and I now rely on cheaper sources to choose from. That means I will be in Costco once or twice a month with limited budget just to purchase stuff that I cannot find anywhere cheaper in bulk and it is exclusive to Costco according to my family needs.

My go to monthly or possibly biweekly budget would be $150-200 at most which is not worthy in terms of two percentage cash back in a year anymore. To compensate this higher prices, I now work part time in a grocery store which gives me 10% associate discount card every time I purchase grocery & food stuff. It gives me better value when I purchase cheaper food stuff there.

Not everyone is in a secure financial status to ignore the high rise of living costs. :)
None of that masses my question of why you want to use a debit card instead of a credit card, but I guess you have your reasons.
[OP]
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Feb 16, 2014
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London
Kiraly wrote: None of that masses my question of why you want to use a debit card instead of a credit card, but I guess you have your reasons.
I forgot to say that my grocery store that I am working in has its own credit card which is Visa issued card. It brings a total of 3% cash back rewards to its employees when they purchase in store. :)
[OP]
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Feb 16, 2014
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tew wrote: I get it but you can use any MC at Costco. I use my PC MC and get "free" PC Optimum points over using a debit card where I would get nothing.
You are right, but all my credit cards are Visa and only Capital One Costco was a Master card.
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Nov 22, 2015
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esfandiyar2002 wrote: You are right, but all my credit cards are Visa and only Capital One Costco was a Master card.
So?

Why wouldn't you just continue using your Capital One / CIBC Mastercard at Costco then? At least you get something back instead of nothing
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Mar 3, 2018
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KanataKG wrote: So?

Why wouldn't you just continue using your Capital One / CIBC Mastercard at Costco then? At least you get something back instead of nothing
The funny part is the OP stated:

Not everyone is in a secure financial status to ignore the high rise of living costs.

Yet they are leaving money on the table when they shop at Costco.
Deal Expert
Feb 7, 2017
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DaveTheDude wrote:
The funny part is the OP stated:

Not everyone is in a secure financial status to ignore the high rise of living costs.

Yet they are leaving money on the table when they shop at Costco.
KanataKG wrote: So?

Why wouldn't you just continue using your Capital One / CIBC Mastercard at Costco then? At least you get something back instead of nothing
All of this

The OP seems to be under the impression that Costco only takes its own branded CC

That’s not true.

Their EXCLUSIVITY AGREEMENT in Canada is with MasterCard (in the US it’s with Visa)
And they do offer a Costco branded MC
That gives their Customers a decent rate of Cash Back

But it’s NOT THE ONLY MC they take
THEY TAKE ANY MASTERCARD
So you can use any MC and reap the rewards that whatever your own MC Offers
Be that Cash Back or Loyalty Points / Miles in whatever program you belong to

Personally … I use my AirMiles MC @ Costco
So as a Costco Exec Member I get 2% Cash Back annually from Costco
And then I get Airmiles whenever I shop @ Costco too (accrued monthly )

It adds up !!!

Lol, my Debit Card … I own one
But it’s so last Century now
I pretty much gave up using it almost 15 years ago now
It’s now Credit or Cash on everything I buy / need
Credit for Credit Card Perks
Cash for often negotiated discounts for paying Cash
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Feb 4, 2010
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Wonder if anyone else got a headache from this nonsensical thread.
Deal Guru
Aug 14, 2007
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hierophant wrote: Wonder if anyone else got a headache from this nonsensical thread.
The OP hurt my brain on this one but for a completely different reason that the original topic posted...

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