Credit card to bank transfer

Credit card to bank transfer

113°
Missing
Deal Cadet
61
114
3

Hi all… I wanted to transfer money from my credit card, for eg: American Express credit card to a bank account.
I know that using Paytm we can do it but it charges 4% to transfer money from wallet to any bank account.

So do you have any other ways to transfer it without any additional charge ??

I am sure this will help other dimers as well. So please suggest ways in which you people are able to move the money.

13 Comments  |  
7 Dimers
15359988
Tech Guru
1,451
4187
133

All other ways are illegal. Even this way is illegal but there is no way “intent” can be shown that this is what you want to do. Which is why credit cards have very long fine prints on cash withdrawals. Using any kind of loan for other than the intended purposes is illegal and it is a major legal issue. They can come after you many years later. So even if you can do it, think carefully.

Missing
Deal Cadet
61
114
3
alienteck wrote:

All other ways are illegal. Even this way is illegal but there is no way “intent” can be shown that this is what you want to do. Which is why credit cards have very long fine prints on cash withdrawals. Using any kind of loan for other than the intended purposes is illegal and it is a major legal issue. They can come after you many years later. So even if you can do it, think carefully.

So do you mean to say that adding money to paytm wallet through credit card is illegal ??….. because I have been doing that since ages.
Moreover, if it’s illegal then why the hell paytm has kept that an option, of adding money through credit card ?? Are they helping a person to do such illegal and “heinous” activity !!

Missing
Deal Cadet
61
114
3

Friends, if you don’t want to reveal in public… the different smart ways to move money from credit card to bank …. then please message me the trick.

15359988
Tech Guru
1,451
4187
133
Expand
gautam2usa226 wrote:

So do you mean to say that adding money to paytm wallet through credit card is illegal ??….. because I have been doing that since ages.
Moreover, if it’s illegal then why the hell paytm has kept that an option, of adding money through credit card ?? Are they helping a person to do such illegal and “heinous” activity !!

They don’t allow you to add money into wallet from CC now. But you can still pay 3rd party billers.

Sometimes we can get away with things. Only later would it come back to haunt us. Even I added wallet money from CC in payzap thinking I can use it to pay bill before and went to do it again and they wont allow you to do it now. What I am saying is later on when you go to take a loan or pay taxes then things like this come up.

Compliance is really shoddy in most places. Even if they have rules, they are too lazy to enforce it. When you are playing with other peoples money the rules are entirely different.

Missing
Deal Newbie
50
20
0

just open a paytm business account u just need your pan card, add money from credit card to your friends or family wallet basically another number transfer it to paytm business account just takes 1 day to arrive and 0 charges

Screenshot 2019 05 18 10 53 14 876 com.google.android.gm
Deal Cadet
10
874
10

PM me for trick with zero charges.

Cropped 749861292
Deal Subedar
129
1497
23
JaiKrish1031 wrote:

PM me for trick with zero charges.

Are you going to charge for the trick?

Screenshot 2019 05 18 10 53 14 876 com.google.android.gm
Deal Cadet
10
874
10
Expand
sardasa wrote:

Are you going to charge for the trick?

Free trick I found from YouTube.

Untitled 1
Critic
494
4268
122

Credit card → my Paytm wallet → someone else’s Paytm Merchant account → his bank account → my bank account.

Two months ago, I transferred 25k this way. Without any charges.

Dual survival cody lundin 2
Deal Captain
0
13120
147
alienteck wrote:

All other ways are illegal. Even this way is illegal but there is no way “intent” can be shown that this is what you want to do. Which is why credit cards have very long fine prints on cash withdrawals. Using any kind of loan for other than the intended purposes is illegal and it is a major legal issue. They can come after you many years later. So even if you can do it, think carefully.

If you are saying so much illegal then why mobikwik openly posted this https://static7.mobikwik.com/web-remote/home/ba...

check under offers too.

15359988
Tech Guru
1,451
4187
133
Expand
Cody wrote:

If you are saying so much illegal then why mobikwik openly posted this https://static7.mobikwik.com/web-remote/home/ba...

check under offers too.

I don’t think mobi have their own credit cards.. Its rules created by credit card companies on how you can use their card. If MK wants to pay visa 4% charges I am sure visa will allow them to do it..

But you can clearly see how much cash you can withdraw from your card which is far lower than your card limit and in fact it is a separate item on your card balance sheet. I am not sure if MK will allow you to withdraw more than that limit. You can also take a loan which is far higher than your cash withdrawl limit, I think upto 75% instead of 50%.

The different requirements are due to Net30 the card companies provide to merchant transactions.. Cash withdrawal interest charges start immediately.. Will MK give you merchant transaction benefits?

Also MK is not a reliable source of anything. And just because you can do something done mean it is allowed or even legal. It is one of the primary considerations in law.. Ignorance is not an excuse..

15359988
Tech Guru
1,451
4187
133
Roushh wrote:

Credit card → my Paytm wallet → someone else’s Paytm Merchant account → his bank account → my bank account.

Two months ago, I transferred 25k this way. Without any charges.

Ah now I understand why paytm has limited transactions to rs2000… Because before I have added more than that to wallet to pay for something but had to make 2 transactions this time. Also cant add CC money to wallet in merchant account now.

Obviously if there was no problem, this would still be allowed.. And Paytm don’t want to keep eating the over rs1000 it cost them to do this transaction.

many people transferred huge amounts of CC money to use on CRED and the scratch cards.. So it was only a matter of time before they stopped it. Their losses are far higher than any scratch card benefits you receive. I used to write checks from 1 CC to pay another CC.. Which is different than a cash withdrawal as it don’t have a cash withdrawl surcharge.. But interest rate charges start immediately rather than the due date.

15359988
Tech Guru
1,451
4187
133
Expand
Cody wrote:

If you are saying so much illegal then why mobikwik openly posted this https://static7.mobikwik.com/web-remote/home/ba...

check under offers too.

Don’t assume I like CC or finance companies.. If you know how they charge interest rates, your payments are entirely interest for many months.. When we applied for a housing loan, They issued the check on the day we applied for the loan, which means interest rates started immediately.. It took more than 1 month for the loan to get approved and then get the check and then give it to the builder and it got cashed.. means the payment we made for 2 months was for money we did not even have yet and it was entirely free money for them at our expense.. It is a racket and it is entirely because they make the rules. I was angry about it but their comment was do you want the loan or not or go elsewhere.

Missing