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-   -   AmEx for Target: $400/week credit card ATM withdrawals for 1.3%+ in certain cities (https://www.flyertalk.com/forum/manufactured-spending/1242493-amex-target-400-week-credit-card-atm-withdrawals-1-3-certain-cities.html)

Tuppins Jun 1, 14 9:40 am


Originally Posted by payeco (Post 22957840)
I'm not sure you follow what I'm saying. 800 $20 dollar bills is $16,000. I'm not going to bring $16,000 to the bank and deposit it in a single bank account. I want to split it up evenly and deposit about $1,200, give or take, into 13 to 14 accounts every month.

Or are you telling me to take all $16,000 to the bank and ask them to split it in to 13-14 stacks for me? Because that is just terrible advice so I hope that's not what you meant.

Plus, I make all my deposits via ATM at the branch so I can do it whenever is convenient for me so I never actually interact with a person that could do that for me anyway.

Yeah sorry. I didn't realize you were doing so much. I only do 5k a month with AFT. But I don't have 10+ bank accounts either.

Tuppins Jun 1, 14 9:46 am


Originally Posted by MaineCoon (Post 22958128)
so my cost of clearing $5k is $41+$16.25 ATM fees=$57.25

correct?

My math says $4.50 per $500, plus your ATM fees.
Sorry, I do my calcs per $500.
Could be similar in cost to OV/Serve, but a lot more work.

raccah Jun 1, 14 12:14 pm


Originally Posted by Tuppins (Post 22959767)
My math says $4.50 per $500, plus your ATM fees.
Sorry, I do my calcs per $500.
Could be similar in cost to OV/Serve, but a lot more work.

Not quite either - remember it is 3 dollars per 1K of load! Never load 500 dollars at a time you are giving money away on each swipe.

Also, u need to count in the free ATM unload per card per calendar month

So, of done correctly:

5 * 3 = 15 (for 5K of load)
5000/400 = 12.5 - 2 (for free loads) = 10.5.

Ignore the .5 (or really .25) that is handled on the next unload meaning you leave some cash there till the next load and it rolls till it becomes a full 400 and then you get it all.

so 10 * 3 = 30 + ATM fees and that is the total, at least IME

payeco Jun 1, 14 1:06 pm


Originally Posted by Tuppins (Post 22959744)
Yeah sorry. I didn't realize you were doing so much. I only do 5k a month with AFT. But I don't have 10+ bank accounts either.

When you're depositing $10k to $14k a week in MOs, you want to have a lot of options since it starts to look fishy if you deposit too many.

youngmoneyhack Jun 1, 14 1:34 pm

What's the cheapest ATM in SF? Costco?

MaineCoon Jun 1, 14 1:52 pm


Originally Posted by raccah (Post 22960448)
Not quite either - remember it is 3 dollars per 1K of load! Never load 500 dollars at a time you are giving money away on each swipe.

Also, u need to count in the free ATM unload per card per calendar month

So, of done correctly:

5 * 3 = 15 (for 5K of load)
5000/400 = 12.5 - 2 (for free loads) = 10.5.

Ignore the .5 (or really .25) that is handled on the next unload meaning you leave some cash there till the next load and it rolls till it becomes a full 400 and then you get it all.

so 10 * 3 = 30 + ATM fees and that is the total, at least IME

Thanks, that good info.

But what if I need to load 2 $500 AGCs, do I have to pay $3 for each or not?

Domat Jun 1, 14 2:16 pm


Originally Posted by MaineCoon (Post 22960879)
Thanks, that good info.

But what if I need to load 2 $500 AGCs, do I have to pay $3 for each or not?

no, it is one load with split payment.

MaineCoon Jun 1, 14 2:21 pm


Originally Posted by Domat (Post 22960981)
no, it is one load with split payment.

Thank you.

So I tell them I wanna load $997 w/split payment, correct?

Tuppins Jun 1, 14 4:23 pm


Originally Posted by raccah (Post 22960448)
Not quite either - remember it is 3 dollars per 1K of load! Never load 500 dollars at a time you are giving money away on each swipe.

Also, u need to count in the free ATM unload per card per calendar month

So, of done correctly:

5 * 3 = 15 (for 5K of load)
5000/400 = 12.5 - 2 (for free loads) = 10.5.

Ignore the .5 (or really .25) that is handled on the next unload meaning you leave some cash there till the next load and it rolls till it becomes a full 400 and then you get it all.

so 10 * 3 = 30 + ATM fees and that is the total, at least IME

...right. So $15 to load and $30 to unload $5k = $45... Or $4.50 per $500. That's what I said.

raccah Jun 1, 14 6:49 pm


Originally Posted by Domat (Post 22960981)
no, it is one load with split payment.

I am not sure what you mean here, IME, you are charged 3 dollars for each and every swipe, NO MATTER HOW MUCH yous wipe all in all. So, I ALWAYS swipe once per 1K - the max I can do. Always get 1K cards from AGC, never MORE and never less - not worth it either on the purchase of the AGC (even if you get a free coupon) or on the slides at Target. AGAIN IME

RyanNYNJ Jun 1, 14 6:54 pm


Originally Posted by raccah (Post 22961998)

Originally Posted by Domat (Post 22960981)
no, it is one load with split payment.

I am not sure what you mean here, IME, you are charged 3 dollars for each and every swipe, NO MATTER HOW MUCH yous wipe all in all. So, I ALWAYS swipe once per 1K - the max I can do. Always get 1K cards from AGC, never MORE and never less - not worth it either on the purchase of the AGC (even if you get a free coupon) or on the slides at Target. AGAIN IME

Um...you're doing something wrong boss. I do three swipes per load at $3 per load. So 3 swipes for me but only $3 total load fee. Just do a split payment. I've been doing this with AFT for nearly two years now.

jiffyjiff Jun 1, 14 7:49 pm


Originally Posted by MaineCoon (Post 22961009)
Thank you.

So I tell them I wanna load $997 w/split payment, correct?

Just say loading $1k, do 500 swipe, 500 swipe and $3 swipe. OR, if you don't want to use another card or - ugh - cash - for the $3, yes, ask to load $997, and then swipe, $500 drained, swipe, $500 drained, and good to go.

OnTheRocks Jun 1, 14 8:58 pm


Originally Posted by raccah (Post 22961998)
I am not sure what you mean here, IME, you are charged 3 dollars for each and every swipe, NO MATTER HOW MUCH yous wipe all in all. So, I ALWAYS swipe once per 1K - the max I can do. Always get 1K cards from AGC, never MORE and never less - not worth it either on the purchase of the AGC (even if you get a free coupon) or on the slides at Target. AGAIN IME

So right now I'm using AGC to load AFT and it works out pretty good. Premium shipping and code for the AGC = no fees, and basically paying $4.50 per $500 to liquidate. So I think 18k ($180) arrival points is well worth the $27 per 3k loaded.

OnTheRocks Jun 1, 14 9:01 pm


Originally Posted by youngmoneyhack (Post 22960798)
What's the cheapest ATM in SF? Costco?

The cheapest that I have come across in the east bay area is Costco and $1.50 @ a credit union down the street.

MaineCoon Jun 1, 14 9:02 pm


Originally Posted by jiffyjiff (Post 22962209)
Just say loading $1k, do 500 swipe, 500 swipe and $3 swipe. OR, if you don't want to use another card or - ugh - cash - for the $3, yes, ask to load $997, and then swipe, $500 drained, swipe, $500 drained, and good to go.

thank you.^


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