Timeline for Why would a trading platform only allow withdrawal to the source of payment?
Current License: CC BY-SA 3.0
5 events
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| Feb 7, 2018 at 8:57 | comment | added | user541686 | @TripeHound: I'm not sure. I don't see CC companies allowing you to purchase Visa/Mastercard/AmEx/etc. gift cards with credit cards (even online), even though, like you say, they could allow it and treat it as a cash advance. The only exception I know is that some banks can be funded with credit cards, and even then, up to a limit that isn't too high. They seem to very much require you to take cash advances if that's what you want. | |
| Feb 7, 2018 at 8:12 | comment | added | TripeHound | My point is that if it is possible (to load from a CC) then the CC companies would deal with it by treating it as a cash-advance (immediate interest etc.) and not by forcing the trading platform to impose a single in/out conduit. Doing the latter would still allow you to use the CC company's money "for free" to fund your investment/trading provided you "cashed-in" and returned the money before the grace period for interest was up. | |
| Feb 7, 2018 at 8:04 | comment | added | user541686 | @TripeHound: I'm not sure, but the OP asked about this scenario so that's why I answered it. | |
| Feb 7, 2018 at 8:04 | comment | added | TripeHound | Do trading platforms actually let you deposit from a credit card (as opposed to directly from a bank account or via debit card)? I've not looked around, but the couple of (UK) share-dealing/investment companies I'm familiar with wouldn't accept a CC payment, and if they did, I'm pretty sure the CC company would treat it as a cash-advance in any case (as they would if "paying" an on-line gambling firm). | |
| Feb 6, 2018 at 19:23 | history | answered | user541686 | CC BY-SA 3.0 |