Cashing out surplus after refund.

[LostRedditor]

I have a card with a $10k limit and I had just paid it down in full as I do every month when a $7k refund landed in the account. I was looking to close this account soon but now there's all this cash in there.

I called Westpac and asked and they said there was no way except doing a Cash Advance which will incur a 3% fee. Obviously I'm not keen to pay that. Any other way to get the money out without having to keep using the card?

I know I can close the account now and probably be given a cheque but that would take a while I guess. I'm not desperate for the money but I'd rather have it sorted quickly.

 

[RooFlyer]

Any other way to get the money out without having to keep using the card?

Buy gift vouchers of various types?

Can you purchase a bank cheque with a card? Probably not

 

[GrahamBRI]

Any other way to get the money out without having to keep using the card?

I would generally go with the gift card idea, but you can also make an advance payment on your health insurance or other bill that will credit you with a new expiry date (and beat its annual price rise).

 

[RooFlyer]

I would generally go with the gift card idea, but you can also make an advance payment on your health insurance or other bill that will credit you with a new expiry date (and beat its annual price rise).

That's a great idea!

 

[Bundy Bear]

Overpay your ATO bill and ask for a refund by cheque

 

[LostRedditor]

Overpay your ATO bill and ask for a refund by cheque

Never had an ATO bill. But I like your thinking

Buy gift vouchers of various types?

Can you purchase a bank cheque with a card? Probably not

Yeah I could get some vouchers etc, but it's almost worth paying the 3% fee to avoid having to deal with paying with vouchers at Woolies

I would generally go with the gift card idea, but you can also make an advance payment on your health insurance or other bill that will credit you with a new expiry date (and beat its annual price rise).

That's a good idea, I will look into making advance payments where I can

 

[Thibault]

I’ve had overpaid monies paid into my credit card cashed out to my Westpac cheque account with no fees by just going into a branch.
That was last year so processes may have changed but someone with common sense will be able to sort it out in 2 minutes.

Their call centre is not very good. I’ve applied and got approved for a new Westpac card last week - sms suggests that I can use the Digital Card as soon as the card shows up in the app but staff was adamant that you’d have to wait until getting the card by post.

 

[LostRedditor]

I’ve had overpaid monies paid into my credit card cashed out to my Westpac cheque account with no fees by just going into a branch.
That was last year so processes may have changed but someone with common sense will be able to sort it out in 2 minutes.

Their call centre is not very good. I’ve applied and got approved for a new Westpac card last week - sms suggests that I can use the Digital Card as soon as the card shows up in the app but staff was adamant that you’d have to wait until getting the card by post.

That's good to know, I am going in to a branch on Friday to see if they'll do that for me.
Their app is always malfunctioning for me, and I agree about their call centre...
I had the same issue regarding digitcal card. Could not get those numbers and had to wait for the card

 

[NoName]

Cancel the card and request they transfer the money to you. They will either put it into your bank account or send you a cheque.

 

[Hvr]

If none of the above works we can send you our bills for you to pay.
We're good people here at AFF with a solution for every problem.

 

[LostRedditor]

Cancel the card and request they transfer the money to you. They will either put it into your bank account or send you a cheque.

Definitely something I'm considering

If none of the above works we can send you our bills for you to pay.
We're good people here at AFF with a solution for every problem.

haha if I ever need to reach a $10k minimum spend I'll keep that in mind

 

[albyd]

I think the cash advance should be more reasonable. CBA and Westpac allow you to make a cash advance for a flat fee (I think it’s $3 as long as you don’t go into debit and leave enough money to cover the flat fee). I haven’t done this for a long time so the policy might have changed or you were given the wrong info. Might be worth calling to check. $3 is a small price to pay to get your $$ back and avoid the hassle of making more purchases - I hope you got >$3 value from signing up for the card. It’s just a cost of doing business.

 

[elanshin]

They can definitely reverse any fees or charges for "cash advances". I've had situations where I've paid the wrong Westpac cc (held 2 at the same time, one business one personal). They told me to just transfer directly, it'll trigger the cash advance but on their end they'll undo all the fees and costs associated with it.

Something to do with it being easier to waive fees vs getting authorisation to move funds in credit card accounts.

 

[LostRedditor]

Thanks everyone for your suggestions. I went into a branch and they only charged med $2.50 flat fee. I don't know why the person on the phone said 3% fee, would've been over $100.

Anyway, issue resolved

 

[albyd]

Thanks for letting us know - I think that's the trouble with staff - you think you know the answer but you ask them anyway. Some people tell you one thing and others tell you something else. Who do you believe? The one that matches what you think?

Good result nonetheless