Avoid 5% Charge On “Cash Advance”
November 12, 2007 – 7:13 pmWhen PayPal first allowed us to withdraw our funds from our PayPal account to our Visa-brand credit card, debit card or prepaid debit card, we were made to understand that by withdrawing our money that has been cleared to our credit card via the ATM, we will be charged a 5% handling fee by our bank.
On the other hand, withdrawal of PayPal funds to our debit card and then via the ATM is free.
The good news is that we can easily avoid that 5% charge if you have a savings account with the same financial institution as your credit card and you can just give the credit card centre a call with the instructions to remit your funds from your credit card to your savings account. This is free too.
See, it is never logical to be charged any fees at all to withdraw your own funds via the ATM. Isn’t that ridiculous? Luckily there is a get around to avoid the fees.
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2 Responses to “Avoid 5% Charge On “Cash Advance””
I have a couple of friends that have had problems with the PayPal visa card. They have large amounts in PayPal because they sell on eBay. Sometimes the cards didn’t scan correctly or it showed that there was no money in the account when in fact there were thounds of dollars there. PayPal has also been having problems with charge backs but that is another story.
Jan’s last blog post..Desperate times call for desperate measures
By Jan on Nov 16, 2007
Hi Jan,
Sorry for the late reply.
I have not heard of problems with the PayPal visa card because I am in Malaysia and it’s not available here.
I heard, though, that the service fee is rather high. What is new with PayPal, right? The good thing about PayPal is the convenience.
By Cyberpartygal on Nov 17, 2007