Max out ISA with Credit Card

jcontest

As someone who has had money stuck with PayPal before and had other non-resolved issues then I can't think using them to do this would be good.  Might be odd for someone to say this, but I'd rather pay 3% than risk using PayPay!

My issues were years ago - back in the days when they said customer service was okay.

Just my 0.02, but the idea of it is great.

pecunianonolet

stehouk said:

It worked for me, just register the credit card as a preferred payment card in paypal account and send the money via friends and family to someone you trust, i sent it to my wife's paypal account, she transfers it to her bank and then to my bank account, it is totally free, no fees to pay, you then have the interest free period to repay on your'e credit card or balance transfer it away to another card, santander have a 21mth 0% balance transfer card with no fees. i paid off my mortgage with the funds.

Iv'e  set up 2  regular savers with nationwide and santander to make a little extra interest whilst paying the min payment on the card.

hope this is useful information for you.

Are you collectiong Clubcard points on this as well? Are you paying a friend and the balance is taken from your card and transferred free? This would be a much easier way to stoose potentially large pots compared to fee free money transfer for which offers are not great. is it somewhere in the T&C's that it doesn't count as cash transaction? Is paypal not charging a fee to use the credit card?

jcontest

pecunianonolet said:

Are you collectiong Clubcard points on this as well? Are you paying a friend and the balance is taken from your card and transferred free? This would be a much easier way to stoose potentially large pots compared to fee free money transfer for which offers are not great. is it somewhere in the T&C's that it doesn't count as cash transaction? Is paypal not charging a fee to use the credit card?

https://www.paypal.com/uk/webapps/mpp/paypal-fees

He is correct in that no fee's are listed.

Sending and receiving money

When you send money (initiated from the “Friends and Family” tab of the “Send Money” flow) to, or receive money into your PayPal account from, friends and family without making an underlying donation or commercial transaction (that is, the payment is not for the purchase of goods or services or for making any other commercial transaction), we call that a “personal transaction”.

The rates relating to personal transactions are set out below.

Sending domestic personal transactions

Rate
No fee (when no currency conversion is involved)

Sending international personal transactions

Rate	Minimum/Maximum
5% of the transaction amount	The minimum fee is GBP 0.99 and the maximum fee is GBP 2.99

Fees charged in different currencies for sending payments: We will collect the fee from balance in the currency in which the fee is payable. To do this, we may need to convert the fee amount from your sending balance into the currency in which the fee is payable, in which case the fees for "Conversions in all other cases" also apply.

Receiving personal transactions

Rate
No fee (when no currency conversion is involved)

Formatting looks a bit skewiff.
I just can't trust them, I would probably do it in blocks of £100 to make sure it's all okay lol.

pecunianonolet

Yes, has to be done in small and random transactions so it's not suspicious but I think, based on some Google research, most cc insitutes now classify Paypal payments as a cash advanced transaction and charge a fee, which makes it unatractive.