jacred wrote:
mphan wrote:
If you want to get some cash w/o fee. Use paypal to transfer the money from your CC CL to checking acc and it counts as purchase. It did this all the time. Send money from my paypal to GF's then cash the money after it's cleared.
But in order to send Paypal money via credit card, doesn't the receiver have to have a "Premier" level account which then results in Paypal taking a ~3% cut off the "purchase" amount? That seems pretty equivalent to a BT fee.
nah, all you need is 2 emails. Setup 2 paypal accts, one links to your checking, the other one to your credit card.
1. Login to the first PP (CC).
2. Go to Send Money
Send money for: Services/Other.
Payment To: your Checking PP.
3. Change the Payment Method to your CC.
4. Login to your second PP (checking).
5. Use "Withdraw Funds by Electronic Transfer" to transfer it to your checking acc.
Monthly Limit is $500. If you need more, upgrade to Premier/Business account.
I use this method to get cash and keep some of my CCs active.
I hate chewing gum. lmao
mphan wrote:
jacred wrote:
mphan wrote:
If you want to get some cash w/o fee. Use paypal to transfer the money from your CC CL to checking acc and it counts as purchase. It did this all the time. Send money from my paypal to GF's then cash the money after it's cleared.
But in order to send Paypal money via credit card, doesn't the receiver have to have a "Premier" level account which then results in Paypal taking a ~3% cut off the "purchase" amount? That seems pretty equivalent to a BT fee.
nah, all you need is 2 emails. Setup 2 paypal accts, one links to your checking, the other one to your credit card.
1. Login to the first PP (CC).
2. Go to Send Money
Send money for: Services/Other.
Payment To: your Checking PP.
3. Change the Payment Method to your CC.
4. Login to your second PP (checking).
5. Use "Withdraw Funds by Electronic Transfer" to transfer it to your checking acc.
Monthly Limit is $500. If you need more, upgrade to Premier/Business account.
I use this method to get cash and keep some of my CCs active.:smileytongue: I hate chewing gum. lmao
It looks like the Premier account is only required to receive CC payments for eBay purchases (not CC payments in general) so I was incorrect about that.
But the issue that remains with your above steps is that when you log into the 2nd account to withdraw the money, Paypal takes off a 1.9-4.9% fee since the payment was sent via credit card, according to their Fee chart:
https://www.paypal.com/us/cgi-bin/webscr?cmd=_disp
Fees
Receive payments funded by Credit Card, Debit Card or Buyer Credit:
Personal account
4.9% + $0.30 USD
(limit of 5 transactions per 12 month period)** for domestic or U.S. transactions
Premier/Business account
1.9% to 2.9% + $0.30 USD
How would you avoid this 1.9-4.9% fee?
(edited to correct copy/paste issue)
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