bank accounts that let you do an initial deposit with a cc

joujou

In the US there are a lot of banks that will let you do this when you open a current account . are there any in the UK?

veryintrigued

Even if there are I'd be very careful you don't get hit with charges from the cc provider.

Kernel_Sanders

The only account I can remember allowing deposits by card was one with Yorkshire BS, but that was restricted to debit cards.

jonesMUFCforever

Nothing stopping you going to an ATM with say a Clarity card withdrawing some cash and paying it in.
If you want to do this online direct it won't work.

colsten

I know of no UK current account that requires an initial deposit.

Ben8282

Apart from opening the account in branch then taking a cash advance from a credit card in the branch or from an ATM and paying it into the account, then no it is not possible.
You could always do a money transfer into the account once you have opened it if you hold a UK issued credit card which offers that facility.

Zanderman

joujou wrote: »

bank accounts that let you do an initial deposit with a cc
In the US there are a lot of banks that will let you do this when you open a current account . are there any in the UK?

Do you mean by cc (credit card) or any card (debit cards too?). A credit card payment would mean drawing cash on the credit card, which would immediately mean you're paying interest on it.

If you're asking can you pay-in to a current account by card generally, I'm not aware of any easy process to do this online, though you may be able to do so at a branch.

And why initial deposit? New current accounts can be left empty for some time after opening, so there's no need to hurry. And as there's no need to hurry you can surely pay-in by any means, including, if you can't pay-in by card, by cash withdrawn by machine using the card.

Anthorn

colsten wrote: »

I know of no UK current account that requires an initial deposit.

Agree.

I've opened several bank accounts and none of them have required an initial deposit in the sense that it's required before the account can be opened. Not even building society savings accounts.