Originally Posted by
Valueseeker
I read this on PTS:
"paypal - link your amex card - send money to your other half or anyone else you trust to give you the money back. On paypal you can send money to people for any reason - not just purchases. this costs you 3.4% so £34 for every £1000 you put through - or £340 for an entire £10k through - of course you get 15k miles for this".
Is this a legitimate way of generating 'spend'? I have not checked the Paypal T&Cs yet. I'm not sure at what point it becomes money laundering!
Has anyone any experience of this? I would not expect to shove the whole £10k through Paypal but it could be useful if I am still a few thousand short as I approach the end of the year. Thanks.
My daughter's landlord does not accept AMEX, so I Paypal her the money (I stump up the 3.4%) and she pays her landlord via standing order. If I want to trigger the 241 early in my year I might also send her monthly subsistence allowance the same way. Perfectly legitimate, and Paypal would have no idea what she was spending the money on.
So, expanding this analogy I could send her the Paypal payment and technically she could give me the money straight back. If you did something similar for all of your £10k spend it would cost £340 to get your 241, plus you would accumulate another 15k miles.
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