I want to pay as many things I can with CC / BPay - then pay off the CC with my Debit.
Obviously if there's some fee then I'd just go Debit or cash.
Who charges as Cash Advance - Credit card co. Or the business?
capslock janitor on 25/09/2019 - 16:25
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If you don't know this, you really shouldn't have a credit card…
If you can't bother to read the OPs question properly, you really shouldn't be giving advice..
IKR by that sentiment people shouldn't ask anything then..
It would be one thing if he knew what you actually were asking. But he didn't. He misinterpreted the question, and then mocked his own misinterpretation.
If you want to easily access cash, open a square or a stripe merchant account and charge your own card. You'll pay about 1.9% as a merchant fee. They deposit the cash in your account. Billed as a standard purchase.
Then when you have the cash to pay it off, put the cash back in your back account, and refund the original charge to your credit card. You'll get the original merchant fee refunded.
Disclaimer: this may be against their policies but they are unlikely to do anything.
Yes, this is against their General Terms of Service, and they genuinely do review accounts, especially new ones, regularly for activities such as this (using the same card constantly for example).
Pro Tip: You can use a Square Referral Link from here to get the ~1.9% merchant fee waived for both you and the referrer.
It is certainly difficult to detect especially if the card is manually entered as a card not present transaction, thereby making them unable to capture the name field. Don't enter your actual name in the transaction field as cards aren't validated by name.
They do actually encourage "testing" with a live card, so you could always say you were doing this.
It's actually trivial to flag it, because CC info is tokenized using 16 digits + exp + cvv. The name doesn't really matter.
Someone doing big-ish transactions on 1 (or a few cards) on a sporadic basis on a terminal = money laundering or manufactured spending.
An ozbargainer posted awhile ago about how he tried to do the same with eftpos or prepaid visa cards which resulted in his account getting flagged and closed. Caveat emptor.
For the most part, your bank does. They define what constitutes 'cash' and these definitions can change. For instance, gambling is usually treated as a cash advance, to stop people from using it as a loophole. But for a long time lottery tickets didn't occur cash advance fees. Then they changed that in 2017 or so, and now if you buy a power ball ticket, it will incur an extra fee. So its not always clear
On the business side of things, business' can elect where a bpay funding source comes from. Most are easy, and CC is fine, but there are notable exceptions. Vicroads rego, for instance, has to be payed via a debit account.
Yes what about other bills? Land notice for example? How would I know/would they charge as C.A. fee?
I use the Bpay website to check if the 'business' accepts Credit - https://www.bpay.com.au/Personal/Find-Biller-Codes-or-Financ…
Technically, thats classed as a credit-card processing fee, not a cash advanced. Might be why you're having trouble tracking down the answer
Other than inquiring bill by bill, I don't know. I do know that bpay is a fixed sum system: that is, they can't vary the amount owed just from the details contained on the bill. So if you're paying through your bank, you can try paying the bill via a credit source (schedule it in advance if you don't want to pay it just yet). If the biller won't accept a credit source, it will reject it.
Of course, the biller could just charge the ccp fee on the next bill, so its not guaranteed. Best to check on a case by case basis. But if there's nothing on the bill about excess charges for bpay with a CC source, and the transaction goes through alright, I'd risk it.
Cash Advance charges (one-off fee & interest) apply to all cash withdrawals & gambling transactions (casino, lottery etc.).
This is what I learnt from HSBC.
Your bank does, it's listed in their fees and charges…