Personal Finance

Transfer funds from prepaid credit card to bank account?

  • Last Updated:
  • Jul 6th, 2020 2:06 pm
[OP]
Member
Mar 11, 2018
425 posts
211 upvotes

Transfer funds from prepaid credit card to bank account?

Anyone know if it’s possible to transfer funds from a prepaid credit card such as vanilla visa or mastercard into your bank account or to somehow withdraw from the prepaid card into cash?
9 replies
Deal Fanatic
Nov 22, 2015
5671 posts
5066 upvotes
MeatJuice wrote: Anyone know if it’s possible to transfer funds from a prepaid credit card such as vanilla visa or mastercard into your bank account or to somehow withdraw from the prepaid card into cash?
Nope. Just use it to pay an internet or cellphone bill. Or you could buy gift cards and sell them
Deal Addict
Jan 19, 2017
3037 posts
1640 upvotes
MeatJuice wrote: Anyone know if it’s possible to transfer funds from a prepaid credit card such as vanilla visa or mastercard into your bank account or to somehow withdraw from the prepaid card into cash?
If it is the reloadable Myvanilla prepaid MC, then you can do ATM withdrawal. Otherwise no.
Member
User avatar
Nov 23, 2014
428 posts
407 upvotes
Toronto, ON
MeatJuice wrote: Anyone know if it’s possible to transfer funds from a prepaid credit card such as vanilla visa or mastercard into your bank account or to somehow withdraw from the prepaid card into cash?
create a invoice on your paypal account..send it to yourself (to another email)..pay it with the prepaid card
Form paypal account ->> bank account
[OP]
Member
Mar 11, 2018
425 posts
211 upvotes
unodos wrote: create a invoice on your paypal account..send it to yourself (to another email)..pay it with the prepaid card
Form paypal account ->> bank account
This is what I was actually thinking of but wasnt sure if it can be done this way. As long as paypal allow prepaid credit cards to be linked and a payment made drawing from that. Would creating a 2nd paypal account under your name but with a different email address be an issue?
Member
User avatar
Nov 23, 2014
428 posts
407 upvotes
Toronto, ON
MeatJuice wrote: This is what I was actually thinking of but wasnt sure if it can be done this way. As long as paypal allow prepaid credit cards to be linked and a payment made drawing from that. Would creating a 2nd paypal account under your name but with a different email address be an issue?
No,you are not linking prepaid card to paypal account nor creating another paypal account

There is a invoice feature in paypal..check it
create invoice on any random name and send it to your non-paypal email

Pay the invoice with your prepaid card.
Deal Addict
Jan 19, 2017
3037 posts
1640 upvotes
unodos wrote: No,you are not linking prepaid card to paypal account nor creating another paypal account

There is a invoice feature in paypal..check it
create invoice on any random name and send it to your non-paypal email

Pay the invoice with your prepaid card.
I thought there is fee paid by credit card.
Deal Expert
User avatar
Aug 18, 2005
19564 posts
4173 upvotes
Burlington-Hamilton
Some people get their own Stripe reader for this purpose.
- Casual Gastronomist -
Sr. Member
Feb 4, 2019
889 posts
1330 upvotes
BC
There are ways to do it but most involve a 2-3% fee at least. Best to just make a payment towards a cable or cell bill as the opportunity cost of not using a cashback/rewards credit card is usually lower.
Anyone who knows a better (cheaper or free) way is not going to share it here.
Newbie
Jan 7, 2020
26 posts
5 upvotes
If you have a Square reader you can do it that way, but again you have to pay 2-3%.

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