What kind of card can I withdraw cash ,no fee?

HillStreetBlues

born_again said:

In true MSE style....
£5K seems a lot for a spade 

£5k does seem a lot to fork out.

Tjinks

Ebe_Scrooge said:

Agree with the previous posters.  You can't withdraw cash on a credit card without incurring substantial fees and interest.  A money transfer card is the usual suggestion - though you will need to factor in the transfer fee, and you'll need to ensure it's paid off by the time the promotional rate expires.  And you won't get any S75 protection, if that's what you're looking for.

If the tradesman won't accept payment by credit card then your choices are somewhat limited - other than going the old-fashioned route of saving up before having the work done.

Hi. Question...I have a card reader .. could I pay myself with a credit card and then withdraw the cash?

elsien

As per the previous replies, if you don't have a money transfer card it will be as expensive as just withdrawing the cash. 

eskbanker

Tjinks said:
Question...I have a card reader .. could I pay myself with a credit card and then withdraw the cash?

Under what circumstances do you have a card reader?  If you're some sort of business then payments (and disbursements) will need to go through the books and may be subject to some form of taxation, as well as the fees associated with processing card transactions....

WillPS

eskbanker said:

Tjinks said:
Question...I have a card reader .. could I pay myself with a credit card and then withdraw the cash?

Under what circumstances do you have a card reader?  If you're some sort of business then payments (and disbursements) will need to go through the books and may be subject to some form of taxation, as well as the fees associated with processing card transactions....

Suspect it'll be issued to them personally as a sole trader. In which case it'll be their name which appears on the statement. Highly likely to arouse suspicion IMO.

Ebe_Scrooge

Tjinks said:

Ebe_Scrooge said:

Agree with the previous posters.  You can't withdraw cash on a credit card without incurring substantial fees and interest.  A money transfer card is the usual suggestion - though you will need to factor in the transfer fee, and you'll need to ensure it's paid off by the time the promotional rate expires.  And you won't get any S75 protection, if that's what you're looking for.

If the tradesman won't accept payment by credit card then your choices are somewhat limited - other than going the old-fashioned route of saving up before having the work done.

Hi. Question...I have a card reader .. could I pay myself with a credit card and then withdraw the cash?

You do seem to be trying to make things a whole lot more complicated than they need to be.

Bottom line - why do you want to use a credit card in the first place?  Is it because you want the S75 protection, is it because you want to benefit from points/cashback that your card offers, or is it that you don't have the money available to do the work?

If it's either of the first 2 reasons then you're snookered if the tradesman won't accept cards, and no amount of jiggery-pokery is going to get around that.  If it's option 3 then your choices are a money-transfer card, a personal loan, or save up.

RhondaD

If you're having to borrow the money then perhaps now isn't the right time to do the garden up?

GenieBoy

I remember some credit card companies used to give out credit card cheques, do they still do this? I've not seen one for years. I think Capital One used to give them out.

Brie

And almost no financial institution wants to deal with cheques anymore so I doubt there's any about.

GenieBoy

IanManc said:

GenieBoy said:

I remember some credit card companies used to give out credit card cheques, do they still do this? I've not seen one for years. I think Capital One used to give them out.

The sending out of unsolicited credit card cheques by credit card companies was banned in the UK by Section 15 of the Financial Services Act 2010. 

Oh I see. I remember me mother using one to pay a landscape gardener about 18 year ago or so. Not sure if she paid him using the actual cheque or if she used it to pay herself the money before paying it to the gardener.