Originally Posted by
radonc1
I am uncertain as to how the above is MSing.
In my mind, I buy a GC (say SMGC) with a credit card and then need to monetize it. We use to do this by depositing it into BB or Serve and then paying via BP or check the subsequent CC bill. Or we convert the GC into MOs and deposit them into a bank account.
What people tried to do with Venmo was take the GC and use it on Venmo as their payment method. They then simply transferred the balance of the card out to a bank and withdrew the cash. When the GC balance reached zero, they added a new GC and repeated the process. Venmo caught on quickly and basically has shut down that method of MSing (only 4 GCs per year allowed and only very specific ones at that). Of course numerous people also got banned from Venmo.
So how are you going to fund Venmo now? Using a real bank debit card as your funding source does nothing for MSing. So I am confused how one would even use Venmo at all (except for that modest 4 cards a year per account.)
Right - well the person was asking about getting a checking acct bonus - so I was saying if you can't find a GC that can be loaded, you still can meet the direct deposit requirements this way using a normal debit card.
You're right that isn't MS. In order to do that you need to find the remaining few (if any) GC's that can still be loaded. And like you said, even then - 4 cards per every 6 months isn't a whole lot, but it's something - and it's very easy vs. the MO route.
At the very least, I've used it to meet the minimum spend requirements for cards (usually 3,000) which can be accomplished using 6 cards which is under the 8 card limit sent between two accts every 6 months.