

Getting my money back - crazydinosaur

Fellow hackers - I wanted to get this question out there, because I hate being screwed by banks. I recently got a gift from someone - a debit card, in my name, from a well known bank. The card has $1800 on it, and I can go to any store, and buy whatever the hell I want. Except there is a catch. Given the economy, (and what I mean by that is my personal economy)  I don't want to go out and spend it all. I want to withdraw it, and put it into my bank account for safe keeping. 
I went to my bank yesterday, and we tried to withdraw cash, to deposit it, but was told this was impossible. I called customer service for the card, and was told it was it a "no cash out" card - ie, you can't get cash out of an ATM, or withdraw any cash. Weird - it's my money, I should be able to do whatever the fuck I want, right? 
Plus, on top, this wonderful bank starts charging a 'monthly fee' for this great service.<p>So, that's why I'm coming to you guys - I was thinking of paying myself (via Square) for services worth $1800 bucks - but that would mean paying Jack Dorsey and Co. 2.75% of my hard earned cash.<p>Have you any other ideas on how I can turn my $1800 in to cash?
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codeonfire
There's no way to convert it without giving a discount because the gift card
is inherently less valuable than cash. One possibility is to find someone you
trust who is going to make a large cash purchase and ask them to use your card
instead. However, I don't see why you don't just pay your expenses with the
card for a month or two and bank your normal income.

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jasonz
You could also buy coins from the mint and then deposit them into your
account. People do this to rack up frequent flyer miles for free.

[http://www.npr.org/blogs/money/2011/07/13/137795995/how-
freq...](http://www.npr.org/blogs/money/2011/07/13/137795995/how-frequent-
fliers-exploit-a-government-program-to-get-free-trips)

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shadowz
Unfortunately the US Mint has discontinued purchases with credit card since
July 22, 2011.

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EvilTerran
Find a store that sells products with high value-density and does full cash
refunds for unopened products, buy $1800 worth of stuff, then return it the
next day and ask them to put the refund into a different account/cash?

Alternatively, if online gambling sites are legal in your area, you could sign
up to one, convert your money to chips, and cash out into a normal bank
account. If it's one that gives you a little extra credit for free when you
join, you could place that on low-risk bets, and probably even end up with
more than $1800 in the end. Just don't get hooked. ;)

... all the ideas I'm having sound like money laundering. Oh well, I guess
that's what it is, really, albeit not for nefarious purposes.

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biopharma_guy
You could also use the money to buy your basic necessity expenses and deposit
the money coming from your other sources to another account. I am sure you
have some bills to pay (rent, food, groceries, laundry etc). Pay all these
with that card and deposit the money that you are supposed to spend. The banks
are getting notorious for charging a "monthly fee" and it is going up. So try
to look for a credit union near your place for opening an account and as soon
as the money on this account vanishes just go ahead and close it. Unless you
want to put more than 8k in the account to waive the monthly fees, I do not
see a point to keep this account. My 2 cents.

