My friend wants to pay back the money they owe but but by Credit card............?

Question

She doesn't have a pin number so can't draw cash out. Is there anyway to transfer money from a credit card to a bank account?

Answer 1

perhaps through Paypal - she could pay you the amount and you could transfer to a bank account, but there may be charges depending on the amount

Answer 2

A couple of ways to go here.

First, most credit cards provide their cardholders Access Checks to use for balance transfers. But those checks can be used for anything including paying you.They send them every few months and maybe she has them lying around. If not, she can call the card company and ask for the checks and they won't cost anything and will arrive in 7-10 days if you can wait that long.

Second, she can call the credit card company and request a PIN for cash advances. That shouldn't take much time. She maybe able to complete the process over the phone.

Third, It is the holiday season and I am sure you have gift obligations to your friends and family. You can either borrow the card (or better have here accompany you to the store) and pay for your purchases up to the amount she owes you.

Fourth, wiring the money though a Western Union or Wells Fargo Moneygrams could be a good idea because they take credit cards.

Finally, Paypal or any of the online payment services take credit cards.

Options 4 & 5 are a bit more expensive.

To answer your actual question: No, bank accounts don't take credit card deposits without access checks.

Remember, this is an unusual request so she should have some flexibility in accommodating you in whatever way you choose to be paid by "credit card".

Good Luck!

Answer 3

Ring the credit card company and ask them to do the transfer. This will be treated as cash by the credit card and will incur cash handling fees and a higher interest rate - paying debts off with a credit card is not a good way to reduce debts.

Answer 4

you could use paypal and she could send it to your paypal account then you would transfer it to your bank account. Another way would to go online through western union and she could send you a transer online to you. Western union also can send it to your bank account. If you use western union it would have to be done online because they do not take credit cards at the store, only online.

Answer 5

Call the credit card company and tell them you want a cash advance, and they will walk you thru it. That is if you are in good standing with the company.

Answer 6

hmmmm

all credit cards today are chip and pin, so your friend wouldnt be able to use it without a pin number. so either its not her credit card or she hasnt realised it is the same number.

Answer 7

Ditto Libby's response: PayPal.

Also, Western Union will take the card online and let you pick it up in person for a fee.

Answer 8

you can do it if you both got a paypal account. take a couple of days to credit your account though

Answer 9

pay pal i think