Using Revolut to Channel BT if you do not have a genuine balance

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adindas
adindas Posts: 6,814 Forumite
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edited 11 September 2015 at 7:27PM in Stoozing: free cash from credit cards
Using Revolut to Channel BT if you do not have a genuine balance from other credit cards.
I am aware that MBNA card has been frequently used to channel to balance transfer, e.g. Asking to transfer the balance from Credit card with 0% on BT to MBNA and then asking incredit balance to be transferred to Current account of your choice over the phone.
Has anyone tried the new player Pre-paid card “Revolut”..
I understand that Revolut allows fee free ATM withdrawal in the UK for Sterling (£). So this could be used to channel the BT from Credit card with 0% on BT to Revolut.
From Revolut You could just withdraw the cash from cash machine in the UK? I understand that there is an ATM limit withdrawal (say £300) but you could do that in daily basis especially if you have cash machine near you.
I think this is less risky than using MBNA as once your money is credited to your “Revolut” prepaid card, there is no way back to the origin. Wish MBNA however it will depend on their mercy, as they might decide to transfer the in credit balance to the origin leaving you with no gain but losing your BT fees.
Any comment on this? Has anyone tested it??
Thanks

Comments

  • mrs_T
    mrs_T Posts: 1,017 Forumite
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    Not tested revolut but successfully had positive balances refunded to bank a/c from Barclaycard no problem. Used this with balances created from Santander and post office balance transfer cards. Seems simpler than what your suggesting.
  • Revolut_Official
    Revolut_Official Posts: 87 Organisation Representative
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    adindas wrote: »
    Using Revolut to Channel BT if you do not have a genuine balance from other credit cards.
    I am aware that MBNA card has been frequently used to channel to balance transfer, e.g. Asking to transfer the balance from Credit card with 0% on BT to MBNA and then asking incredit balance to be transferred to Current account of your choice over the phone.
    Has anyone tried the new player Pre-paid card “Revolut”..
    I understand that Revolut allows fee free ATM withdrawal in the UK for Sterling (£). So this could be used to channel the BT from Credit card with 0% on BT to Revolut.
    From Revolut You could just withdraw the cash from cash machine in the UK? I understand that there is an ATM limit withdrawal (say £300) but you could do that in daily basis especially if you have cash machine near you.
    I think this is less risky than using MBNA as once your money is credited to your “Revolut” prepaid card, there is no way back to the origin. Wish MBNA however it will depend on their mercy, as they might decide to transfer the in credit balance to the origin leaving you with no gain but losing your BT fees.
    Any comment on this? Has anyone tested it??
    Thanks
    Just letting you know that Revolut do not support top ups by credit card. Thank you.
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  • michaels
    michaels Posts: 28,008 Forumite
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    Seems this may not be the best place to discuss...but has anyone tried a but to a revolut? Does revolut appear on your credit file as credit card cash withdrawals are healthy for credit scores.
    I think....
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    michaels wrote: »
    credit card cash withdrawals are healthy for credit scores.


    Really????
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    I think you will find that you cannot do a BT to a pre-paid card. Also the Revolut Offcial has indicated that it would not be accepted. This all sounds like attempts at fraud to me.
  • faddy
    faddy Posts: 508 Forumite
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    Ben8282 wrote: »
    the Revolut Offcial has indicated that it would not be accepted.

    What they've indicated is that you can't do top ups (presumably a reference to topping up via the app, the only "official" mechanism for topping up from a card) from a credit card. That's a different question from whether you can do BTs to a Revolut card or indeed to any other pre-paid card.
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