Credit card to purchase cashier's check- T or F
Mickey71
Posts: 4,224 ✭✭✭✭
This was brought up in an earlier thread. Can you purchase a cashiers check from your bank with a credit card. The person who said this said that this would help up in case the purchase went bad. I'm thinking about purchasing an expensive item about $5,000. Is there any sense to this or not. I know your credit card can help out with purchases made with your credit card, but what about this. Paypal will not be involved with the transaction I'm thinking about. Please respond if you know anything about this. Thanks in advance.
Mickey71
Mickey71
0
Comments
Raw: Tony Gonzalez (low #'d cards, and especially 1/1's) and Steve Young.
Not the nicest way to say it, but no, you will not be covered by the CC company. Even if you can buy a cashier's check with a CC, doubtful, you will have received what you paid for a bank check. What you do with that bank check matters only to you and the bank, the CC company is out of the picture at that point.
After the previous thread, I asked BAC and they sell CC-checks
when payment is made by Credit-Card Courtesy Check, but not
for a swipe of the card., They will do a cash-advance on the card
also, but that is not covered. The guy I spoke to - manager - had
no idea if courtesy checks were covered or not; he thought not,
but said it had "never come up before."
Payment to a vendor via a credit-card courtesy check from BAC, is
covered for the amount of the claim. All cards are probably the same.
Paying with a CC through PayPal should work fine.
I would not make such a purchase from a stranger on EBAY.
Some folks do, though.
Local pickup would be safer for the buyer, and should be done
in a public place or in pairs.
If you use your CC to fund your bank account it would be considered a cash advance. The CC is responsible to the bank for remitting funds, not the check's payee.
In any case, the fees to do this would be through the roof. I think the last time I did this...poker table in Puerto Rico...the fee was like $30/$1000.
Kirby Puckett Master Set
If you want to go that way PM me and I'll explain why it works.
Plus is tough to buy a MO with credit. I dont know that you can.