Paying an IBAN with a credit card

Fisha

Hi

I have recently purchase a bike from Germany and taken advantage of a 0% credit card to pay for it. However the bike company are requesting an IBAN, how can I do this with a credit card?

I've seen a company called ibanpal but wasn't sure how trusted they were

Many thanks

Greg

stephane_2

That is weird....an IBAN is the number that you would uses with a current account if you we're going to send or receive fund from abroad....a credit card does not have an IBAN. If you have paid with a credit card I don't understand why they want that information....have you query this with the company....very strange

Fisha

Hi

The company won't accept any payment apart from an IBAN (bank transfer) however I would like to take advantage of 0% offer hense wanting to pay with the credit card

grumbler

Fisha wrote: »

I have recently purchase a bike from Germany and taken advantage of a 0% credit card to pay for it. However the bike company are requesting an IBAN, how can I do this with a credit card?

I've seen a company called ibanpal but wasn't sure how trusted they were

I don't understand...
You paid them with your credit card, but they want IBAN after you paid them? Why?

stephane_2

Then I don't think you can do that with a credit card....unless your card allow fund transfer to your current account at 0%. Best to check with your credit card provider. If you give them a call....you'll have all the answers you need....

bengal-stripe

I believe, the German company wants to be paid by transfer (very popular in Germany) and have submitted their IBAN for the OP to use.

OP, unless the company accepts PayPal, you cannot use a CC to fund a transfer. You might be able to get Cash from the card transferred to your bank account and transfer this money to Germany. That is a very expensive way of paying, as there is no O% deal on Cash withdrawals.

aleph_0

Short answer: You can't. Some credit cards allow for a cash transfer to your UK bank account, but will treat such a transaction as a cash advance, and so the 0% wouldn't apply. Also note that a bank transfer gives you less protection than paying by card, so I would only go for a large payment by IBAN if you're confident they're legit - it might be worth considering seeing if they'll take cards if you pay them a card processing fee.

Longer answer: You can play games by doing a cash transfer to the bank account on Card 1, which is then paid off by a 0% balance transfer on Card 2, but you'd still pay interest on the time between the two. But in any case, this is independent of your purchase - and you should firstly practice slow stoozing techniques.

Fisha

bengal-stripe wrote: »

I believe, the German company wants to be paid by transfer (very popular in Germany) and have submitted their IBAN for the OP to use.

OP, unless the company accepts PayPal, you cannot use a CC to fund a transfer. You might be able to get Cash from the card transferred to your bank account and transfer this money to Germany. That is a very expensive way of paying, as there is no O% deal on Cash withdrawals.

Thanks for the info, I've found a site called ibanpal which is probaly owned by PayPal. They charge a small fee for the transfer

stephane_2

aleph_0 wrote: »

Short answer: You can't. Some credit cards allow for a cash transfer to your UK bank account, but will treat such a transaction as a cash advance, and so the 0% wouldn't apply. Also note that a bank transfer gives you less protection than paying by card, so I would only go for a large payment by IBAN if you're confident they're legit - it might be worth considering seeing if they'll take cards if you pay them a card processing fee.

Longer answer: You can play games by doing a cash transfer to the bank account on Card 1, which is then paid off by a 0% balance transfer on Card 2, but you'd still pay interest on the time between the two. But in any case, this is independent of your purchase - and you should firstly practice slow stoozing techniques.

No you are giving the wrong information....some credit card providers are allowing to transfer fund to your current account at the promotional rate. Cards like MBNA do it all the time...however there is a fee of 4% for the transfer.

stephane_2

Fisha wrote: »

Thanks for the info, I've found a site called ibanpal which is probaly owned by PayPal. They charge a small fee for the transfer

Bear in mind that if you do that...you'll pay the fee but as well huge amount of interest

Fisha

stephane wrote: »

Bear in mind that if you do that...you'll pay the fee but as well huge amount of interest

Really? Even if I have 16 month 0% on new purchases and pay it off in 12??