0% Purchases into current account

desertstorm

Hi,

Is there a method of converting 0% purchases available on a credit card into money I can transfer to my current account? I know I can do a money transfer at a 1.5% rate but looking to utilise the 0% for 13months offer I have.

Any help will be appreciated.

Thanks

YorkshireBoy

Best way would be to make some large purchases on behalf of friends and family and let them give you the cash.

PayPal might be an option, but there will probably be some fees attached. Might work if the cash is required to repay an overdraft or ease a short term cashflow problem but it's unlikely to generate any 'slow-stooz' profit from a savings account.

desertstorm

Thanks for the reply. I don't mind paying a one-off fee for using the paypal method. I'm not really looking to make profit. Just need to cash for a few months.

What is the best way using paypal? Is there a limit?

Thank you

YorkshireBoy wrote: »

Best way would be to make some large purchases on behalf of friends and family and let them give you the cash.

PayPal might be an option, but there will probably be some fees attached. Might work if the cash is required to repay an overdraft or ease a short term cashflow problem but it's unlikely to generate any 'slow-stooz' profit from a savings account.

birkee

I have to ask, what's the point? Current accounts are paying virtually no interest anyway.
You want the cash to spend? Then why can't you use your credit card?
Do you want to mislead somebody (or organisation) with the state of your current account?

desertstorm

I need to make a purchase but it involves cash transaction (nothing illegal). Using credit card isn't an available option so thinking of using the suggested Paypal method

birkee wrote: »

I have to ask, what's the point? Current accounts are paying virtually no interest anyway.
You want the cash to spend? Then why can't you use your credit card?
Do you want to mislead somebody (or organisation) with the state of your current account?

aldosarmy

Hi did you find a solution to this problem, i am in the same boat.

Took a credit card out with tesco and planned on buying my car with it, however a good car come but the seller had no way of taking credit card payments so paid it off with my bank balance, i now want to recoup that money by getting the money from the card and paying that back monthly.

was going to try the paypal method but was wondering if anyone found a cheaper way, can i buy travellers sheques with the tesco card, would that work?

Thanks

justlookin_3

Mbna currently do one for cash transfer at 5.9%