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Author Topic: Funding A New Bank Account via CC  (Read 8885 times)

Offline Aben

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Funding A New Bank Account via CC
« on: February 14, 2011, 04:58:00 PM »
Does anyone have any updated info about funding a new account via credit card, does it come through as a purchase or a cash advance?
I think each bank and each CC is different. Can we make a list up.
I am trying to fund a Sovereign Bank Account. My Amex card did not go through but my Capital One did. I was wondering if my Citi AA or Chase Continental Debit or CC would work as a purchase.
Thanks
 
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Offline Dan

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Re: Funding A New Bank Account via CC
« Reply #1 on: February 14, 2011, 05:04:08 PM »
Citi cards always post as a cash advance these days.
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Offline eliteflyer

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Re: Funding A New Bank Account via CC
« Reply #2 on: February 14, 2011, 06:36:10 PM »
Quote from: Dan on February 14, 2011, 05:04:08 PM
Citi cards always post as a cash advance these days.
So which CC work for funding the Bank Direct AA checking acct w/o posting a cash advance?
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Offline daganster

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Re: Funding A New Bank Account via CC
« Reply #3 on: February 14, 2011, 07:27:19 PM »
Quote from: eliteflyer on February 14, 2011, 06:36:10 PM
So which CC work for funding the Bank Direct AA checking acct w/o posting a cash advance?
I funded a few Citi accounts with my Chase cards after about six times they closed all my Chase cards. Good luck!
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Offline daganster

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Re: Funding A New Bank Account via CC
« Reply #4 on: February 14, 2011, 07:36:12 PM »
I forgat to mention that I maxed out a 27,500 credit card.
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Offline eliteflyer

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Re: Funding A New Bank Account via CC
« Reply #5 on: February 14, 2011, 08:22:48 PM »
Quote from: daganster on February 14, 2011, 07:36:12 PM
I forgat to mention that I maxed out a 27,500 credit card.
So you maxed out the cards all from the deposit to the bank acct? No wonder they closed the acct!
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Offline Dan

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Re: Funding A New Bank Account via CC
« Reply #6 on: February 14, 2011, 08:24:39 PM »
Quote from: eliteflyer on February 14, 2011, 08:22:48 PM
So you maxed out the cards all from the deposit to the bank acct? No wonder they closed the acct!
I maxed out my $49K CO PP card a couple times in the past to fund a Citi Account.  Haven't done it recently though.
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Offline Cholentfresser

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Re: Funding A New Bank Account via CC
« Reply #7 on: February 14, 2011, 08:29:21 PM »
and they didn't post as a cash advance?
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Offline Dan

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Re: Funding A New Bank Account via CC
« Reply #8 on: February 14, 2011, 08:31:29 PM »
Quote from: Cholentfresser on February 14, 2011, 08:29:21 PM
and they didn't post as a cash advance?
No.
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Offline Cholentfresser

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Re: Funding A New Bank Account via CC
« Reply #9 on: February 14, 2011, 08:37:26 PM »
perhaps it would be worth it to buy visa gift cards and fund citi accounts with them.
that way you can use a citi card if u want aa miles, without it posting as a cash advance. also if u wanna use a chase cc, chase won't see you funding a bank account with their cc (a trigger to piss them off?)
any thoughts?
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Offline Cholentfresser

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Re: Funding A New Bank Account via CC
« Reply #10 on: February 14, 2011, 08:39:44 PM »
what's the most amount of money u can put on a visa giftcard?
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Offline kivabb

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Funding checking account with CC besides Citibank
« Reply #11 on: February 20, 2011, 10:41:52 AM »
Sorry if this was posted elsewhere. Couln't find it.

Any other bank that you can open online checking account and fund with a CC that submits as a purchase?

Is there a limit on how much you can fund it with?

Citibank was a beautiful thing but they didn't like 6 new accounts in last 6 months.

Thanks
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Offline Dan

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Re: Funding A New Bank Account via CC
« Reply #12 on: February 20, 2011, 10:44:12 AM »
Quote from: kivabb on February 20, 2011, 10:41:52 AM
Sorry if this was posted elsewhere. Couln't find it.

Any other bank that you can open online checking account and fund with a CC that submits as a purchase?

Is there a limit on how much you can fund it with?

Citibank was a beautiful thing but they didn't like 6 new accounts in last 6 months.

Thanks
It was the first search result for "funding" in the CC category...

I know Adirondack lets you fund with $1,000 as a purchase.  And they have an incredible 5% HSA.
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Offline daganster

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Re: Funding A New Bank Account via CC
« Reply #13 on: February 20, 2011, 12:54:55 PM »
Quote from: Cholentfresser on February 14, 2011, 08:37:26 PM
perhaps it would be worth it to buy visa gift cards and fund citi accounts with them.
that way you can use a citi card if u want aa miles, without it posting as a cash advance. also if u wanna use a chase cc, chase won't see you funding a bank account with their cc (a trigger to piss them off?)
any thoughts?
How do you get Citi gift cards? I called Citi and they told me that they don't have gift cards.
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Offline Avid Reader

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Re: Funding A New Bank Account via CC
« Reply #14 on: February 20, 2011, 02:16:51 PM »
Quote from: daganster on February 20, 2011, 12:54:55 PM
How do you get Citi gift cards? I called Citi and they told me that they don't have gift cards.

Visa gift cards, not specificaly Citi (better if not Citi).
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Offline Steven

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Re: Funding A New Bank Account via CC
« Reply #15 on: February 20, 2011, 07:17:31 PM »
anyone have any experience funding a new citibank account with a cc? I just opned a new account and
they make you submit a cc authorization form and warn you that it might be considered a cash advance. If anyone has done this and has gotten points for it, please let me know.
Thanks!
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Offline sim

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Re: Funding A New Bank Account via CC
« Reply #16 on: February 21, 2011, 08:26:51 PM »
has anyone funded a citi account with an amex plat and came up as a purchase?
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Offline Dan

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Re: Funding A New Bank Account via CC
« Reply #17 on: February 21, 2011, 08:31:21 PM »
Quote from: sim on February 21, 2011, 08:26:51 PM
has anyone funded a citi account with an amex plat and came up as a purchase?
They wont take amex.
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Offline Steven

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Re: Funding A New Bank Account via CC
« Reply #18 on: February 21, 2011, 11:43:03 PM »
a chase cc you think will work?
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Offline mancunian

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Re: Funding A New Bank Account via CC
« Reply #19 on: February 22, 2011, 12:32:43 AM »
did someone say once that chase shut them down for doing this?
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