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Physical Google Wallet Card now available
- Thread starter Lloydbm41
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mattopotamus
macrumors Pentium
Jessica Lares
macrumors G3
Don't be. That's a good question. Most prepaid cards won't let you pull out money, except by making a purchase or using a ATM. When you cancel, they ask you if you want to forfeit the funds, or do you want a check (if it's over like $10-20).
With the Google card, your funds will still be avaliable for use in your Google account. Just the card deactivated. So at least you'll have use of those funds online while waiting to recieve a new card.
mattopotamus
macrumors Pentium
I guess this would only work with a debit card. You can't really add funds with a credit card could you? Otherwise you could use a store credit card and use it as cash essentially.
Yes you can. I just loaded $20 in my Google account from my Credit Card(not debit/prepaid). I can now spend $20 with my new Google card. Loading the card took about 3 minutes for the funds to kick in.
mattopotamus
macrumors Pentium
That is crazy. Was it a store card or a normal credit card? I can see a normal card working but to use a best buy credit card as cash anywhere.
It was an American Express credit card. I just checked my AMEX account online and it's treating the transaction like an average internet transaction.
GOOGLE *WALLET TOPUP GOOGLE.COM/CH CA is what shows up on my statement.
I wonder if CC companies are paying attention to the Google card, cause I can easily see people loading massive funds to themselves to earn reward points on their Credit Card.
mattopotamus
macrumors Pentium
You are a genius! I'm gonna try this when mine comes and see if it gives me rewards
mattopotamus
macrumors Pentium
TheAppleFairy
Suspended
mattopotamus
macrumors Pentium
TheAppleFairy
Suspended
Well, not that maxing out your credit is a good thing, but if you need a cash advance it's usually 10 to 20% cheaper to charge items on card than taking cash out of the ATM with your card.
mattopotamus
macrumors Pentium
Most credit cards have a hefty cash advance fee and the amount you can take is very small compared to the limit. This would be a way for people to get cash at not only a cheaper rate but also a larger amount. Not to mention if it works for store cards that's can only be used at one location.
For example, one of my cards has a 15,800 credit limit. The cash advance is around $1500. I could basically have a $15,800 cash advance with this method
TheAppleFairy
Suspended
Interesting, I wonder if the government is going to jump in or already has yet. If they are "holding" your money they are a bank right?
Ok, I just noticed something. On the Google Wallet app on my phone. When I go to the add money from credit card page, it has a 2.9% fee next to it but it's crossed out. When I enter $20 it says $0.58 fee but that's crossed out too.
So after playing around with it .... I realized any amount that's $230 and below, the fee is crossed out. When I hit $231, the fee shows up as $0.30 and is NOT crossed out.
I don't know what to make of it yet. Is Google not charging fees for $230 and below for only a limited of time? Cause the $0.30 fee for the $231 add should be higher at (2.9%).
BTW ... I did not notice any type of fee percentage (crossed out or not) when I added money from my desktop browser.
Also I found this at Google Wallet page
So after playing around with it .... I realized any amount that's $230 and below, the fee is crossed out. When I hit $231, the fee shows up as $0.30 and is NOT crossed out.
I don't know what to make of it yet. Is Google not charging fees for $230 and below for only a limited of time? Cause the $0.30 fee for the $231 add should be higher at (2.9%).
BTW ... I did not notice any type of fee percentage (crossed out or not) when I added money from my desktop browser.
Also I found this at Google Wallet page
Don't know if you got your card yet, but mine came in yesterday and it is exactly like I expected. You can load up from any account from the wallet app on your phone and (at least for me) the money was available instantly. Didn't matter if I loaded from a credit, debit or bank account. So now, I am taking my phone and google wallet card with me and that is it. No need for anything else, since I can just transfer money whenever I want from any source I want.
Benefit: I still get my reward miles and cash back with the credit cards that have those.
mattopotamus
macrumors Pentium
Others mentioned it charges you 2.9% to transfer credit cards. Are you just treating that as if it is the transaction?
mattopotamus
macrumors Pentium
Gotcha. I guess if the fee is charged to just transfer the amount you will need. I know you mentioned rewards working still, but I wonder about a store card and a discount. For example j crew will have 40% off for card holders. I wonder if I could use the wallet card with that card being the one that transfered the money.
I don't think that second method would work though b.c the credit card makes in look as if you bought something from Google.
Got mine, on day one I loaded it with x amount and it was instantly available. Made four purchases under $20 each to test it and all went well, no fees.
Added another card, that was very fast and effective. Checked my bank, all good their as well. Made two purchases over $400, no fees, no problems. I'm using a Note 3 and very pleased with the excellent experiences.
Added another card, that was very fast and effective. Checked my bank, all good their as well. Made two purchases over $400, no fees, no problems. I'm using a Note 3 and very pleased with the excellent experiences.
jknight8907
macrumors 6502a
TheAppleFairy
Suspended
That's the same bank that works with Simple. I wonder if your money is being held at Bancorp, or if they are just issuing the card.