Hmm is this Legal

leeegglestone

Ok,

Ive found a loop hole, I think.

Through a cashback site you can purchase foreign money & get paid per Order.

I found that the amount of the order had no bearing on it and you still got your set amount cashback.
i.e £10 order of US Dollars at 1.68 per pound = $16.68
and get £3.50 cashback.
Repeat the order for lets say £200 worth of foreign money.
meaning 20 lots of £3.50 - £70 cashback

Presume that they cant give you the $1.68 because they dont have the coins, equals $33dollars on £200, equivilent to losing about £20. Meaning id only get £50cashback.

But then I could sell back my Currency to another Shop. Im sure on £200 i wouldnt lose that much to what i started with,lets say £10. Still made over £40

Is it legal to do this and repeat the process again and again, picking up all the cashback. Would they cotton on and stop it happening and could I be done for such activities.

Thought best to find out, if its a loophole, or look at like money laundering etc.

thanks

Lee

innovate

I doubt very much that you would get your cashback for any length of time if you are not a profitable customer for the merchant. Plus, if you regularly order small amounts of foreign currency, you should expect to be investigated

juasredford

leeegglestone wrote:

Ok,

Ive found a loop hole, I think.

Through a cashback site you can purchase foreign money & get paid per Order.

I found that the amount of the order had no bearing on it and you still got your set amount cashback.
i.e £10 order of US Dollars at 1.68 per pound = $16.68
and get £3.50 cashback.
Repeat the order for lets say £200 worth of foreign money.
meaning 20 lots of £3.50 - £70 cashback

Presume that they cant give you the $1.68 because they dont have the coins, equals $33dollars on £200, equivilent to losing about £20. Meaning id only get £50cashback.

But then I could sell back my Currency to another Shop. Im sure on £200 i wouldnt lose that much to what i started with,lets say £10. Still made over £40

Is it legal to do this and repeat the process again and again, picking up all the cashback. Would they cotton on and stop it happening and could I be done for such activities.

Thought best to find out, if its a loophole, or look at like money laundering etc.

thanks

Lee

Hi dude I should imagine it doesnt offer cashback on currency deals & probaly a number of other things, but just dont take my word for it have a look in T&C's
if its not in there its legal alright