Originally Posted by
QL_714
Banking 102? I was just getting the hang of banking 101.
Something I learned in banking 101 was that the CC issuer has the final say if it is going to charge a cash advance fee not the merchant.
Yes. If they want to. Empirical data so far say that they do not want to, as of now, for this particular transaction. Therefore the CC funding issue you brought up really has no place in the discussion even without considering the fundamental difference between the two - you do not have immediate access to the funding by credit card until the deposit is cleared of hold, versus you have immediate access to the cash deposit, from the view point of the banks where you fund your account with CC versus you fund your account with cash deposit.
Originally Posted by
QL_714
Am I correct in assuming we both agree that this really is a cash advance but for whatever reason the CC companies at this time are not seeing it that way?
Correct. Since the operative word is
HOW it is being coded, not What it really is, therefore there is no point to debate what it really is. We all know what it really is, but we only care
HOW it is being treated by way of coding.
The only thing matters is
HOW it is being treated. I think everyone can at least understand this part.
Until someone reports something differently, so far it is business as usual if you know how to handle your bank accounts, both in terms of the bank which issues the cards you use, and the bank which you use to deposit your haul.