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Using PayPal to abuse credit card
Comments
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I came back to post this....I had absolutely no idea. I did it using my Nationwide and was charged a 2.5% cash fee.
So turns out my clever scheme is pointless. Of course this is through the credit card issuer, so if I had the correct card maybe it'd be worth it. But for me this experience has been somewhat fruitless.0 -
I was caught in exactly the same way, many years ago, before I knew of this forum. I assumed a PayPal transaction was a PayPal transaction, and didn't realise they could sometimes be treated as cash transactions. I phoned my card provider and explained what had happened, promised never to do it again, and they refunded me the cash advance fee and interest as a goodwill gesture.I came back to post this....I had absolutely no idea. I did it using my Nationwide and was charged a 2.5% cash fee.
So turns out my clever scheme is pointless. Of course this is through the credit card issuer, so if I had the correct card maybe it'd be worth it. But for me this experience has been somewhat fruitless.0 -
Fingerbobs wrote: »I was caught in exactly the same way, many years ago, before I knew of this forum. I assumed a PayPal transaction was a PayPal transaction, and didn't realise they could sometimes be treated as cash transactions. I phoned my card provider and explained what had happened, promised never to do it again, and they refunded me the cash advance fee and interest as a goodwill gesture.
Thanks for the advice. Nationwide have refunded me the charges after I sent them a secure message begging for a refund, and saying I won't do it again (which I won't). Very good of nationwide to do so, it was quite a large sum. They reassured me that they definitely wouldnt be if it happened again!
Needless to say, my abuse of my credit card did not pay dividends, but it did restore some of the faith I had recently lost in Nationwide (they wouldn't switch my flexplus to a free account so I had to close it and then open a new completely new one, what a palaver)0 -
crumpetman wrote: »If you want to go down that route with paypal and credit cards then find a friend to send money to via paypal, use your credit card as the funding source and the friend can withdraw the cash and give it back or transfer it to you via some other means.
So going back to this...
I was charged a cash advance fee for the gambling. As you all know, but I was NOT charged for £500 I sent to my brother, got him to withdraw and then send back to me.
Most interesting, so as an experiment I’ve set this up with my hsbc credit card ( t&C read this time) and sent another £100 to my brother.
I fully expect to be charged a£3 at 3% cash advance fee for it.
All depends how PayPal and hsbc view the money I guess.0
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