Ways to transfer money from card to card without commission
Everyone has long been aware of the possibility of instantly transferring money from their TD bank card to a card to a client of the same bank. If both clients are in the same region, there is no need to pay a commission for the transfer; if they live in different regions – the bank commission will be 1%. If you need to transfer money to a client of a third-party bank, the commission will be higher: in many banks this service will cost 1.5–2%. But what if the client does not want to pay a commission?
Take advantage of promotions that conduct payment systems
From time to time, payment systems hold promotions – then you can make a transfer without a commission. Sometimes these kinds of promotions are held in banks. For example, a promotion for transfers to social networks on FB has been operating for a long time: every FB user can transfer up to 75 thousand monthly to a friend or to his second account without paying a fee, from Mastercard / Maestro cards to any Mastercard / VISA / MIR cards .
Also Read About: Digital Signage Content Ideas for Various Industries
Cards with a limit on free transfers
Everyone can open a card that can transfer money to the card of any bank without commission. The choice is small, but attracted by the availability of such cards and often even their free maintenance. True, these operations are always limited: for example, let’s take the well-known Tinkoff Black debit card – it sets a limit of 20 thousand / month. The same limit applies to the Opencard card of Otkritie Bank, while the monthly rate for Rocketbank and ICD cards is set limit of 30 thousand
Inter-card transfers can be useful to you not only when you need to give a certain amount of money to your relative or friend, but also in order to manage your finances. For example, there are only bank ATMs installed nearby, and you are interested in having and having cards of another bank since it offers interesting bonus conditions, payment transfer to use U.S Routing Number to get cashback or monthly interest on the balance, but its ATMs or office are far away. Yes, and daily wander to the other end of the city for the sake of replenishment of the account – a dubious pleasure. In this case, it is easier to use convenient card2card translations.
Today, in many banks you can replenish your cards with cards of other banks without paying a commission and instantly – this is the so-called retraction.
- Retraction is the process of replenishing a bank card with a third-party bank card.
- Popping is the process of transferring money to another card.
- Donor – a card with which funds are pulled together.
In what cases you can benefit from this: imagine that you are being paid a salary on a TD bank card, part of the money is withdrawn from an ATM and spent on everyday needs, and part is pulled into a piggy bank — for which you can use, for example, the Benefit card – it is offered by Home Credit Bank or a replenished account in the ICD. And imagine that you have one or two cards that have a profitable cashback, it’s quite possible that they also draw money from other cards. Then you can store money on a piggy bank, from time to time replenishing cards for purchases: before you go to the store or at the cash desk – the money will arrive immediately.
It is important not to forget that this method is not suitable for collecting money from credit cards – for this you will have to pay a fee, as if you had withdrawn cash from an ATM, in addition, there is a great risk of going beyond the grace period – then you will be charged interest!
In addition, there are banks that do not like it when customers withdraw money from their debit cards, and a commission is established as a “punishment” for such operations, this rule applies in Uralsib, MKB, American Standard, Promsvyazbank, SKB, Megafon, QIWI.
How it works:
Use the functionality of your bank by going to the mobile application or the bank’s website.
Once in the appropriate section, you need to enter the card number with which the money is drawn together with its validity period, CVV-code and amount.
From the bank of the donor card you receive an SMS with the confirmation code for the transaction (3-D Secure).
Remember that codes from SMS are strictly forbidden to anyone and never be transmitted, so such contractions are done only on your own cards.
Instead of a note: if you have never before been involved in such operations, the first attempt to withdraw money from a TD bank card will be blocked by the bank. Do not be afraid, this is standard practice for an automatically triggered security system. Call the bank and confirm the operation, it will be unlocked, and in the future you are unlikely to encounter such locks.
The operation is confirmed by a code. And that’s it! Money is credited to the card and you can go to the store.
What is also important: if you choose this method to replenish a credit card, do it in advance – 5 days before the day when the grace period ends, because during such operations the money is immediately displayed on the account, but the bank will deposit it and credit it only after 2– 3 working days, this is the specifics of the payment systems.