Author Topic: Cashing out debit card  (Read 298 times)

Offline JuryDuty

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Cashing out debit card
« on: July 17, 2020, 11:50:59 AM »
A friend of mine (single, very minimal expenses) got a debit card with $8k from the govt. What's the best approach?
I recommended cashing out via PayPal or similar, paying 2.9% cc fee and sending to himself just so he doesn't have the money locked up for years, and this way he can invest it/have more access to it. Are there potential issues with this?
Thoughts? (Is there a thread for this?)
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Online yaakov35

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Re: Cashing out debit card
« Reply #1 on: July 17, 2020, 12:02:29 PM »
Venmo, free

Offline biobook

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Re: Cashing out debit card
« Reply #2 on: July 17, 2020, 12:13:50 PM »
This may be similar to the debit cards that were used for some stimulus checks.  The letter included instructions on how to transfer (free) to a personal account. Discussed here
https://forums.dansdeals.com/index.php?topic=115557.msg2264737#msg2264737

Offline CountValentine

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Re: Cashing out debit card
« Reply #3 on: July 17, 2020, 01:59:02 PM »
MO's will work also.
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