Canadian Manufactured Spending

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Nov 6, 2015, 10:19 pm

#91

ecgz88

Join Date: May 2009

Posts: 821

I just checked here, Pivot only allow $250/week for ATM withdraw now

can I do interac online transfer back to my own bank account?

https://services.petro-canada.ca/piv.../what-it-costs

https://www.paypower.ca/ActivateRegi.../GetACardIndex

Quote:

Originally Posted by nabeelj

Using Pivot to convert $2,000 gas spend into cash costs 2.35%.

Using Pivot to convert the same $2,000 gas spend into non-gas spend costs 1.45%.

You're better off using Pivot to get cash, and then put your regular spending on a 2% cashback card.

EDIT: here's my math:

Code:

"Monthly" fee $5 on annual plan
Load 8 x $250 per month, pay 8 x $3 (on 2 separate days)
Withdraw 4 x $500 per month at a $1.50 ATM, pay 4 x $4.5 (on 4 separate days)
Total cash cost $47 for $2000 manufactured "gas" spend per month (2.35%)

"Monthly" fee $5 on annual plan
Load 8 x $250 per month, pay 8 x $3 (on 2 separate days)
Spend $2000 as normal on Pivot Visa
Total cash cost $29 for $2000 converted "gas" spend per month (1.45% premium)

Nov 6, 2015, 10:35 pm

#92

ecgz88

Join Date: May 2009

Posts: 821

I just find out Canada have Vanilla Visa prepaid card too, but it's non- reloadable and no cash access,

with a $250 card $7.50 activation fee

Nov 9, 2015, 11:05 am

#93

netyang

Join Date: Sep 2015

Posts: 2

that's all are not "Manufactured Spending", they are all real spending.

Nov 9, 2015, 12:10 pm

#94

nabeelj

Join Date: Aug 2004

Location: YYZ

Programs: AA LT Plat, AC 25K, Marriott Plat, Hilton Diamond

Posts: 1,137

Quote:

Originally Posted by ecgz88

I just checked here, Pivot only allow $250/week for ATM withdraw now

can I do interac online transfer back to my own bank account?

https://services.petro-canada.ca/piv.../what-it-costs

https://www.paypower.ca/ActivateRegi.../GetACardIndex

My math was based on the annual plan and included the fee in my estimation of costs.

Nov 9, 2015, 12:12 pm

#95

nabeelj

Join Date: Aug 2004

Location: YYZ

Programs: AA LT Plat, AC 25K, Marriott Plat, Hilton Diamond

Posts: 1,137

Quote:

Originally Posted by netyang

that's all are not "Manufactured Spending", they are all real spending.

Pivot -> Cash is manufactured spending. Granted that Pivot -> Cash is not cheap. I personally don't do it, just did the math above for those interested.

Nov 9, 2015, 5:23 pm

#96

ecgz88

Join Date: May 2009

Posts: 821

oh yes, annual plan ATM draw limit is $500/week

, but where can I find a ATM with $500 limit and $1.50 fee?

and PIVOT LOAD Vouchers is $max $250 each?

I asked PC finance they said is reload cash only, not sure if it's true though.

for these outrageous fees and you can't use Pivot card to pay off your CC bill, I don't know why anyone want to use this card???

........amazing, just get a no fee PC Financial cheque acc isn't that a better option?

Quote:

Originally Posted by nabeelj

My math was based on the annual plan and included the fee in my estimation of costs.

Last edited by ecgz88; Dec 10, 2015 at 9:38 pm

Nov 9, 2015, 6:29 pm

#97

erasmus99

Join Date: Dec 2007

Programs: Aeroplan, BMI, Hyatt, SPG, PC

Posts: 606

Paypower used to allow you to withdraw $1,000 from an ATM at one go. You could load at Safeway using any credit card ($950 per load), and then liquidate using Scotiabank ATMs. It was pretty sweet, except that it was a hassle to load the cards at Safeway.

Now you can buy Paypower at many Esso stations, but unfortunately, their ATM max withdrawal is $400 a day plus ATM fees and withdrawal fees.

Nov 15, 2015, 4:31 pm

#98

Pseudo Nim

Join Date: Jan 2006

Location: In the air

Programs: Occasional RTW club

Posts: 6,924

So there's obviously nothing at *all* for MS in Quebec, so I was going to look into Paypower on my next BC trip .... and lo and behold, looks like that's semi-dead too, eh?

Dec 10, 2015, 9:48 pm

#99

ecgz88

Join Date: May 2009

Posts: 821

Just finish my first Paypower transaction, you can easy to reload in safeway for $950 as $3.95 FEE, CC is accept, ATM withdraw is $400 per day and $1000 per week (technically it's $800 per week, since the left over $200 fee is too high to withdraw) , I tried TD/CIBC/BMO/SCOTIA BANK, all is $3 additional fee+ $1.95 Paypower fee, so where can I find a lower ATM fees?

overall fee is =2%,

$950*3= $2850, total $12 fee

withdraw 7 times, total $35 fee

+monthly maintenance fee $5 fee

$52 fee for $2850, nearly 2%

I don't think it's worth it.

today I do find a deal for Safeway reload mini $200 get 75 Airmiles (95 airmiles=$10) not sure how often Safeway run this. http://email.safeway.ca/printcoupons/?mailing=PR-19710

Quote:

Originally Posted by nabeelj

Code:

"Monthly" fee $5 on annual plan
Load 8 x $250 per month, pay 8 x $3 (on 2 separate days)
Withdraw 4 x $500 per month at a $1.50 ATM, pay 4 x $4.5 (on 4 separate days)
Total cash cost $47 for $2000 manufactured "gas" spend per month (2.35%)

"Monthly" fee $5 on annual plan
Load 8 x $250 per month, pay 8 x $3 (on 2 separate days)
Spend $2000 as normal on Pivot Visa
Total cash cost $29 for $2000 converted "gas" spend per month (1.45% premium)

Dec 11, 2015, 9:38 am

#100

yerffej201

Join Date: Nov 2011

Posts: 6,385

Quote:

Originally Posted by ecgz88

overall fee is =2%,

$950*3= $2850, total $12 fee

withdraw 7 times, total $35 fee

+monthly maintenance fee $5 fee

$52 fee for $2850, nearly 2%

Costco ATM's have lower fees.

May 10, 2016, 2:29 pm

#101

asgr81

Join Date: Sep 2013

Posts: 48

So is there anything for canadian to do any Manufactured Spending these days ? This post is dead since december.

Aug 15, 2016, 1:00 pm

#102

Pmun

Join Date: Jun 2016

Programs: Aeroplan

Posts: 86

Quote:

Originally Posted by asgr81

So is there anything for canadian to do any Manufactured Spending these days ? This post is dead since december.

Buy a few loonies from the canadian mint.. collect the points.. Can't think of much else.

Actually there was something I've been meaning to test out but I haven't tried yet. Costco cash gift cards have a new clause that says if you're not a member, they will cash out the rest of the gift card. (I think it's to prevent people from buying a huge gift card and not getting a membership)

But their cards max out at $1000. And you need a membership to buy them, So you need two people to do this. One to buy the gc, second person to go cash them. But you can only do it twice a year.

http://www.costco.ca/Costco-Cash-Car....10284381.html

"You do not have to be a Costco member to use a Costco Cash Card, but non-members must register for a one-day shopping pass at the Membership Counter to access the warehouse. Non-members may only be issued a one-day pass twice per calendar year and the one-day pass may not be used as a replacement for a Costco membership. Non-members may not carry a balance on the card. If they do not spend the full amount of the card, the balance will be refunded at the cash register. If the value of a non-member purchase exceeds the value of the cash card, the excess can only be paid by cash, debit or MasterCard. "

Aug 15, 2016, 1:37 pm

#103

nabeelj

Join Date: Aug 2004

Location: YYZ

Programs: AA LT Plat, AC 25K, Marriott Plat, Hilton Diamond

Posts: 1,137

Quote:

Originally Posted by asgr81

So is there anything for canadian to do any Manufactured Spending these days ? This post is dead since december.

CIBC AC Conversion. Read the thread at RFD.

Aug 15, 2016, 5:44 pm

#104

Pseudo Nim

Join Date: Jan 2006

Location: In the air

Programs: Occasional RTW club

Posts: 6,924

Quote:

Originally Posted by nabeelj

CIBC AC Conversion. Read the thread at RFD.

AC?

Aug 24, 2016, 6:09 pm

#105

CrownRoyalForever

Join Date: Jul 2011

Posts: 583

Quote:

Originally Posted by nabeelj

CIBC AC Conversion. Read the thread at RFD.

Done.

It doesn't answer the question I have though, is it possible to do this remotely? E.g. loading on a Canadian card but withdrawing to a bank account instead of at an ATM in Canada.

Cheers