Banks that allow Funding w/ Amex?

Old Jun 3, 20, 3:15 pm
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Banks that allow Funding w/ Amex?

Looking to MS about 10k for Biz Plat, would prefer online banks.
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Old Jun 3, 20, 8:43 pm
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Originally Posted by atxvinyl View Post
Looking to MS about 10k for Biz Plat, would prefer online banks.
Gonna have to comb through dozens and dozens of banks/CUs to find them. Highly unlikely anyone here will share the ones that work. Learning to MS takes time and work.
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Old Jun 4, 20, 7:21 am
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Originally Posted by atxvinyl View Post
Looking to MS about 10k for Biz Plat, would prefer online banks.
Furthermore, most Amex advances are considered cash advances, which have incredibly high interest rates (25-30%) which accrue from the moment Amex advances the funds. And APRs are calculated on a daily basis.

As the previous poster has noted, there may be banks out there which allow credit card funding for adding money to accounts but they are probably rare as heck and if they do exist, will not be publicized.
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Old Jun 4, 20, 10:31 am
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https://www.doctorofcredit.com/does-...-cash-advance/
Here's a list of hundereds of banks and thousands of data points. There are definitely some on there that accept Amex.
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Old Jun 4, 20, 10:34 am
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I cannot imagine that this makes any financial sense, given what Amex charges for cash advances.
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Old Jun 4, 20, 10:49 am
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Originally Posted by ostornadoe1 View Post
https://www.doctorofcredit.com/does-...-cash-advance/
Here's a list of hundereds of banks and thousands of data points. There are definitely some on there that accept Amex.
I believe what the original poster wanted to know is whether there were banks who would let you use a CC to fund an account and the bank would process the advance as a CC charge, not a cash advance.

DOC even says it in your post link....

"Avoid cash advance fees by setting your cash advance limit to $0. You can call up your bank and request your cash advance limit be set to $0. Also remember that this is just a collection of data points and by no means means that your transaction will not be coded as a cash advance".

Amex is more than happy to give you a cash advance. You can use it any way you wish, including funding a bank account.

However, you are going to pay dearly for obtaining that cash.
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Old Jun 5, 20, 10:04 am
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Amex is more than happy to give you a cash advance. You can use it any way you wish, including funding a bank account.

However, you are going to pay dearly for obtaining that cash.
You do realize that Visa and MC are more than happy to give you a cash advance, yet hundreds of banks allow you to deposit with them and a lot of them do not charge a cash advance?

I know that I have personally funded a few bank accounts in the past with Amex. They are usually capped at $500 and are usually small CUs. It's pretty common for churners to use bank account opening deposits to hit minimum spending requirements. If you follow the instructions that you quoted from DOC
"Avoid cash advance fees by setting your cash advance limit to $0
you can avoid cash advance fees, while still attempting to deposit via Amex with any bank that accepts it. The DOC's site with DPs is the best place on the internet for a new churner to do their own research and comb through the DPs to see what banks *might* accept Amex for an opening deposit. Unless you know a better place?
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Old Jun 5, 20, 12:33 pm
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Originally Posted by atxvinyl View Post
Looking to MS about 10k for Biz Plat, would prefer online banks.
Originally Posted by ostornadoe1 View Post
You do realize that Visa and MC are more than happy to give you a cash advance,

I know that I have personally funded a few bank accounts in the past with Amex. They are usually capped at $500
I thought that first, the OP was asking about Amex and second, he was talking about $10K, not $500.

I do not know of any bank that will let me fund $10K to a savings account via Amex that was not a cash advance. Sorry.
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Old Jun 5, 20, 4:45 pm
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Originally Posted by radonc1 View Post
I thought that first, the OP was asking about Amex and second, he was talking about $10K, not $500.

I do not know of any bank that will let me fund $10K to a savings account via Amex that was not a cash advance. Sorry.
Originally Posted by atxvinyl View Post
Looking to MS about 10k for Biz Plat, would prefer online banks.
Looks like OP is ok with doing multiple banks? No clue if OP has any organic spend, other MS, shift spend, or reselling, but a few $500 bank accounts here and there could definitely help hit the min spend. OP hasn't responded at all, so who knows.

For example, if he's in TX, you can fund $2500 across 4 different accounts with Amex at TDECU with data points as recent as Feb 2020. Smaller credit unions are the best chance, but are usually only available to locals.

Last edited by ostornadoe1; Jun 5, 20 at 4:53 pm
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Old Jun 5, 20, 7:42 pm
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Originally Posted by radonc1 View Post
I thought that first, the OP was asking about Amex and second, he was talking about $10K, not $500.

I do not know of any bank that will let me fund $10K to a savings account via Amex that was not a cash advance. Sorry.
Just because you donít know them, doesnít mean they donít exist.
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Old Jun 6, 20, 6:36 am
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Originally Posted by Clueless12 View Post
Just because you donít know them, doesnít mean they donít exist.
You are correct. I do not know of any bank that does what the OP asked, and I indicated as such.

Since you have more information on the subject, perhaps you could PM the OP and help him out. As I indicated, I could not.
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Old Jun 6, 20, 12:09 pm
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Originally Posted by radonc1 View Post
You are correct. I do not know of any bank that does what the OP asked, and I indicated as such.

Since you have more information on the subject, perhaps you could PM the OP and help him out. As I indicated, I could not.
Didnít mean to come across as snarky. Hard pass on PMíing the OP. As mentioned above, this is one of those things most people wonít share. Docís list is a good starting place.
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Old Jun 7, 20, 3:51 pm
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Penfed.
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Old Jun 30, 20, 9:45 am
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Originally Posted by atxvinyl View Post
Looking to MS about 10k for Biz Plat, would prefer online banks.
Do you have any citicards? If so, I have a method wherein you can fund a bank with a citicard and pay off the citicard with an amex
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Old Jun 30, 20, 1:37 pm
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Originally Posted by LRobs View Post
Do you have any citicards? If so, I have a method wherein you can fund a bank with a citicard and pay off the citicard with an amex
I have the CitiBusiness AAdvantage Plat Biz. Would that work?
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