Balance Transfer to Cash with 0% APR Question

[Anonymous]

I have several 0% balance transfer offers for accounts that charge no fees but do not give balance transfer checks to bank accounts. Has anyone tried putting their company as the account payoff for a manual balance transfer check to be generated?

[K-in-Boston]

That is a very easy way to have your account closed by the lender, or much worse.  Don't do it.  Which lenders are these accounts?  Some will issue convenience checks upon request even if they don't just send them out unsolicited.

[Anonymous]

@Anonymous

I deleted your duplicate post in the Credit Cards forum.  Please not cross post in different forums as this is confusing for those trying to assist you and is against forum rules, Thank you for your understanding and cooperation.

[Anonymous]

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@K-in-Boston wrote:

That is a very easy way to have your account closed by the lender, or much worse.  Don't do it.  Which lenders are these accounts?  Some will issue convenience checks upon request even if they don't just send them out unsolicited.

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Thank you. That is what I was wondering. I have Navy Fed CU, Alliant CU, and a local CU. I will call and see. I do have some offers on cards that offer 2-3% with checks. Was just wondering if I could get cash without paying the fee, and legally of course.

[K-in-Boston]

With the credit unions it can be very hit or miss.  Worth a call, certainly.  Some lenders may think you are skirting their cash advance policies; Bank of America and Discover immediately come to mind as lenders who have no problems with you just depositing a balance transfer directly to your checking account from their website. And convenience checks are almost universally okay to deposit to yourself. The crossing personal and business accounts is just dangerous territory due to money laundering regulations. 

[Anonymous]

Ah, yes that makes sense re: money laundering regulations. I do have a Discover but the balance transfer offer I had on that one has expired for now. I just didn't need it then. lol.

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@K-in-Boston wrote:

With the credit unions it can be very hit or miss.  Worth a call, certainly.  Some lenders may think you are skirting their cash advance policies; Bank of America and Discover immediately come to mind as lenders who have no problems with you just depositing a balance transfer directly to your checking account from their website. And convenience checks are almost universally okay to deposit to yourself. The crossing personal and business accounts is just dangerous territory due to money laundering regulations. 

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