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Direct Deposit ACH from your credit card (Bank Of America)

buytree 246 95 February 17, 2011 at 07:14 AM in Tech & Electronics (2)
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Last Edited by buytree February 17, 2011 at 07:29 AM
I just did it twice, I over paid my BOA credit card and called cus. service requested them to transfer my excess payment to my checking account. They said any checking/savings account is good. I just opened the chase 125/- bonus card, I used it to show the direct deposit. I thought it might help. Check with your credit card company, they may vary.

Edit: I made a payment of $200 where as my payment was only $98. So it is an over pay. I requested boa cus. service to transfer the $200-$98 = $102 to my checking account. I gave my chase checking account to show as a direct deposit. This is all about making a direct deposit.

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Last Edited by bleuiko February 17, 2011 at 09:03 AM
Explanation for what OP is trying to do: A lot of "rewards checking" accounts with high yield have direct deposit requirements. If you don't have that capability (your work only allows for one direct deposit but you have multiple accounts, etc) you can use the OP's method and overpay your CC; you then request a refund and have it direct deposit into your checking account to fulfill the requirement.

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#3
Am I missing something or not understanding? Did you make your payment from your checking? It's not accomplishing anything.
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#4
WTF are you talking about?
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#5
you are fine because you are depositing the over payment.

If you try to deposit using the credit,i.e. borrow money from credit card , you got hit by the cash advance fee.

Banks are not as dumb as you are thinking.
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#6
How is this a slickdeal! What the hell?
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#7
Quote from buytree View Post :
I just did it twice, I over paid my BOA credit card and called cus. service requested them to transfer my excess payment to my checking account. They said any checking/savings account is good. I just opened the chase 125/- bonus card, I used it to show the direct deposit. I thought it might help. Check with your credit card company, they may vary.
Huh Roll Eyes (Sarcastic)

1. why did you over pay your card
2. what does chase have to do with BOA
3. what do you mean used it to show direct deposit
4. what is the point????
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#8
Quote from cocomo59 View Post :
Am I missing something or not understanding? Did you make your payment from your checking? It's not accomplishing anything.
I made a payment of $200 where as my payment was only $98. So it is an over pay. I requested boa cus. service to transfer the $200-$98 = $102 to my checking account. I gave my chase checking account to show as a direct deposit. This is all about making a direct deposit.
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#9
God......
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#10
Quote from sixthday View Post :
you are fine because you are depositing the over payment.

If you try to deposit using the credit,i.e. borrow money from credit card , you got hit by the cash advance fee.

Banks are not as dumb as you are thinking.
Never in the post it is written borrow from a credit card. It says Over-Pay.
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#11
.... what?!?!?!?
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#12
Quote from Wildpir8 View Post :
God......
where look around
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#13
Quote from sabreindian View Post :
How is this a slickdeal! What the hell?
If you need a direct deposit, try this.
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#14
Quote from blackblaze View Post :
where look around
<-------
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#15
Quote from dratz View Post :
<-------
You mean "Yes, my child?" Smilie
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