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Originally Posted by ericliujian
(Post 22622617)
Hello, I am new to this method. Could I ask a simple question? Is there any fee to cash advance in banks? Is the best way load your card to 2500 and then do a cash advance of 2498.05? Am I right? Thank you.
$1.95 fee to be clear. |
Originally Posted by healthnut
(Post 22622715)
Yes and yes. Looks like you answered your own question!
$1.95 fee to be clear. |
Originally Posted by ericliujian
(Post 22622731)
I know the 1.95 fee. I was just wondering is there any other fee cost by the local bank?
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Originally Posted by healthnut
(Post 22622752)
No, shouldn't be.
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Originally Posted by ericliujian
(Post 22622789)
Thank you for your reply. One more thing, could I apply vanilla reload to the temp MVD without registered online?
I'll let someone else answer you for sure. |
Originally Posted by ChessMaster1
(Post 22622496)
Anybody knows how long I have to wait for TCF bank to release my funds to my card after a voided cash advance? On Sunday, a teller voided my cash advance transaction after my card was approved for $2498 (a receipt could not be printed for me to sign). Now I am out $2498 until the bank release the preauthorization on my card.:mad:
As far as MVD is concerned, they have authorized it so they consider the money spoken for. If you don't do anything, MVD will hold your money for one year, then make it available. If you want it sooner, you will need to have the bank branch write up a letter identifying the transaction number, date, time, and dollar amount, and state that they are releasing any claim to the funds and do not intend to collect on the approval. The bank branch needs to fax this letter into MVD. MVD will tell you it takes about a week for them to process the letter, but after a week they will have completely lost the fax. They can search for a fax based on the fax number that it was sent from, and the date and time, so find that out from your bank, and let MVD know. This happened to me, and after getting the runaround I faxed a letter demanding the money back within one week or else I would file a complaint with the FDIC. After that, my funds were made available to me again. Call MVD and get the fax number; if you do this three times they will tell you at least two different fax numbers. After a while, I just faxed everything repeatedly to both fax numbers. I wish you luck. Your problem really isn't MVD's fault, but they are the ones who will need to fix it and they will not do so smoothly. |
Originally Posted by glocklt4
(Post 22620486)
What bank are you working with?
Getting Cash Advance at Chase. My father is Chase Private Client and presumably cashing these out (much to his chagrin) with his PC agent. He could just be doing it with a standard teller, haven't really asked him where inside the bank he is CAing them. |
Originally Posted by pawtim
(Post 22623129)
I'm not sure what you mean by "wait for TCF bank to release", but I had a similar experience with a CA on MVD card. Bank teller did a cash advance, approved by MVD, bank teller voided it.
As far as MVD is concerned, they have authorized it so they consider the money spoken for. If you don't do anything, MVD will hold your money for one year, then make it available. If you want it sooner, you will need to have the bank branch write up a letter identifying the transaction number, date, time, and dollar amount, and state that they are releasing any claim to the funds and do not intend to collect on the approval. The bank branch needs to fax this letter into MVD. MVD will tell you it takes about a week for them to process the letter, but after a week they will have completely lost the fax. They can search for a fax based on the fax number that it was sent from, and the date and time, so find that out from your bank, and let MVD know. This happened to me, and after getting the runaround I faxed a letter demanding the money back within one week or else I would file a complaint with the FDIC. After that, my funds were made available to me again. Call MVD and get the fax number; if you do this three times they will tell you at least two different fax numbers. After a while, I just faxed everything repeatedly to both fax numbers. I wish you luck. Your problem really isn't MVD's fault, but they are the ones who will need to fix it and they will not do so smoothly. |
Originally Posted by pawtim
(Post 22623129)
I'm not sure what you mean by "wait for TCF bank to release", but I had a similar experience with a CA on MVD card. Bank teller did a cash advance, approved by MVD, bank teller voided it.
As far as MVD is concerned, they have authorized it so they consider the money spoken for. If you don't do anything, MVD will hold your money for one year, then make it available. If you want it sooner, you will need to have the bank branch write up a letter identifying the transaction number, date, time, and dollar amount, and state that they are releasing any claim to the funds and do not intend to collect on the approval. The bank branch needs to fax this letter into MVD. MVD will tell you it takes about a week for them to process the letter, but after a week they will have completely lost the fax. They can search for a fax based on the fax number that it was sent from, and the date and time, so find that out from your bank, and let MVD know. This happened to me, and after getting the runaround I faxed a letter demanding the money back within one week or else I would file a complaint with the FDIC. After that, my funds were made available to me again. Call MVD and get the fax number; if you do this three times they will tell you at least two different fax numbers. After a while, I just faxed everything repeatedly to both fax numbers. I wish you luck. Your problem really isn't MVD's fault, but they are the ones who will need to fix it and they will not do so smoothly. |
Originally Posted by ChessMaster1
(Post 22623658)
Thanks pawtim for the quick reply. The exact same time happened to me with my cash advance...Bank teller did a cash advance, approved by MVD, bank teller voided it. When I called MVD for the fax number, the rep said that my preauthorization from TCF is scheduled to drop of in 6 days (April 6 2014) at 10:00 am. If TCF does not claim the preauthorization, MVD will put back the funds in my account. So basically, the rep said I do not have to do anything. And if I fax in a merchant release letter, the funds will be put back into my account in about the same time. Pawtim, should I trust what the rep said or just go ahead and try to get TCF to send in a merchant release letter to MVD...Thanks in advance.
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this is turning out to be one big headache...after my cash advance of $2498 and then the teller voided the transaction...my card has been put in a spend down status. I would not have a problem with the spend down status if not for the fact that MVD has a hold on the $2498...so instead of having a spend down balance of $2500, I have only $2. I been trying to get TCF to send in the merchant request form, but the shift supervisor seems not understand. She is trying to call MVD to release the funds instead of faxing the letter. The MVD rep said the preauthorization hold should drop off on April 6...if not I will FDIC them.
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Originally Posted by ChessMaster1
(Post 22624511)
this is turning out to be one big headache...after my cash advance of $2498 and then the teller voided the transaction...my card has been put in a spend down status. I would not have a problem with the spend down status if not for the fact that MVD has a hold on the $2498...so instead of having a spend down balance of $2500, I have only $2. I been trying to get TCF to send in the merchant request form, but the shift supervisor seems not understand. She is trying to call MVD to release the funds instead of faxing the letter. The MVD rep said the preauthorization hold should drop off on April 6...if not I will FDIC them.
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I just updated the wiki based upon my experience so others don't have to repeat the questions I asked last week. I'm pretty sure everything I said is accurate for everyone (ie: not just my account). Here it is, for peer review:
Liquidating a shut down account as of 3.31.2014 Various reports, and I can also confirm- If you receive the "invalid username or password" message when trying to access your account online, that's the indicator that you have been shut down. Check again for a day or so (just to make sure it wasn't an issue with their website). If still unable to access- you've been shut down. If you don't want to call and talk to them, you can confirm yourself whether your account is still alive to liquidate by calling 855.686.9513. If you are able to hear your balance, you can liquidate- and you can liquidate quickly without any problem. I liquidated $8,200 over the weekend: 5k Saturday, the remainder Sunday (Walmart BillPay and MO). |
Originally Posted by uncommonsensical
(Post 22624578)
I just updated the wiki based upon my experience so others don't have to repeat the questions I asked last week. I'm pretty sure everything I said is accurate for everyone (ie: not just my account). Here it is, for peer review:
Liquidating a shut down account as of 3.31.2014 Various reports, and I can also confirm- If you receive the "invalid username or password" message when trying to access your account online, that's the indicator that you have been shut down. Check again for a day or so (just to make sure it wasn't an issue with their website). If still unable to access- you've been shut down. If you don't want to call and talk to them, you can confirm yourself whether your account is still alive to liquidate by calling 855.686.9513. If you are able to hear your balance, you can liquidate- and you can liquidate quickly without any problem. I liquidated $8,200 over the weekend: 5k Saturday, the remainder Sunday (Walmart BillPay and MO). So you can for sure liquidate when on spend down mode via multiple payments? I've always wondered this. |
Originally Posted by uncommonsensical
(Post 22624578)
If you don't want to call and talk to them, you can confirm yourself whether your account is still alive to liquidate by calling 855.686.9513. If you are able to hear your balance, you can liquidate- and you can liquidate quickly without any problem. I liquidated $8,200 over the weekend: 5k Saturday, the remainder Sunday (Walmart BillPay and MO). |
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