Balance Transfers and Paypal

savagej

Hi

I know this has been discussed before but I thought it would be easier to ask for a reply than wade through pages of threads.

I have taken out another credit card with my own bank and wish to transfer the balance across, but they dont allow BT's between their own cards.

Is it possible to open a paypal account, withdrawn the money from one credit card without it being seen as a cash advance then deposit it in to my bank account to credit to the other credit card account.

Thanks


James

jamesd

Yes if it's one of the cards on this super balance transfer cards list. If it's not then the usual workaround is to get an Egg Money card and balance transfer from it, then transfer the credit balance from the Egg Money card to your current account.

Typhoon2000

Yes thats possible. You will need 2 Paypal accounts (maybe one can be a partners). And pay, money from one to another. For a big amount you may have to registers for the Premier account rather than the basic account. I dont think the 'gift' options works if your funding is from a credit card so, there will 3.9% paypal fee to pay. Once the money is in the second account you can withdraw it to a bank account.

saskay

savagej wrote: »

Hi

I know this has been discussed before but I thought it would be easier to ask for a reply than wade through pages of threads.

I have taken out another credit card with my own bank and wish to transfer the balance across, but they dont allow BT's between their own cards.

Is it possible to open a paypal account, withdrawn the money from one credit card without it being seen as a cash advance then deposit it in to my bank account to credit to the other credit card account.

Thanks


James

Although this is practical (& I have done it myself) be warned, you do it at your own risk since doing what you've mentioned above is considered as breach of your agreement with Paypal. (There is a specific clause in the paypal agreement which prohibits users from taking out pseudo Cash Advances from credit cards using Paypal).