EFT from Credit Card budget facility

[Uraeus]

Howdie Folks,

I am wondering is it possible to make an EFT using the credit card budget facility, and then pay for it over the term?
AFAIK when making POS payments the budget facility can be used, and the term can then be decided (12/24 months). I'm with FNB.

Alternatively would I be able to use a service such as VCpay (easypay) then just deposit the funds into there using the budget facility? Then use the virtual card to make a payment?

Surely there is an easier way. I've got a feeling I don't understand the system properly :/

Any enlightenment would be epic

 

[moklet]

Surely there is an easier way. I've got a feeling I don't understand the system properly :/

Any enlightenment would be epic

Easier way is not having to use it. You know what interest you pay on a credit card. In the end if you crack the system the only ones smiling all the way to the bank are the banks and credit card companies

 

[noswal]

Depends on the credit card you have, when I had a standard bank card I could create a recipient and paid them, such as paying for Joburg metro for lights and water but a nedbank card I had wouldnt give me internet access because I didn't have a nedbank bank account.

 

[SauRoNZA]

What you should have done is called your bank and asked them this question, they are providing the service to you are they not?

Why do people come to forums to ask these kinds of questions?

 

[pgs]

What you should have done is called your bank and asked them this question, they are providing the service to you are they not?

Why do people come to forums to ask these kinds of questions?

MUCH easier to just post a question compared with looking up the number, getting it wrong waiting to a "Your call is important" then trying to explain your thoughts to some South Korean Call center person............

I paid straight with the CC then moved that cash loan to budget BUT I went into the bank to do the move.

 

[Other Pineapple Smurf]

Problem with budget is its charged at a higher interest rate.

 

[xrapidx]

Depends on the bank, but I know in the past, I had to make the payment using the straight facility, then phone them and have that transaction moved to the budget facility.

Problem with budget is its charged at a higher interest rate.

All of my cards have always been the same?

 

[rubytox]

What you should have done is called your bank and asked them this question, they are providing the service to you are they not?

Why do people come to forums to ask these kinds of questions?

....because the operators at the banks don't know the system themselves

 

[pgs]

....because the operators at the banks don't know the system themselves

........and we have been through the hoops!

 

[Other Pineapple Smurf]

...
All of my cards have always been the same?

I use to think so as well till I checked all my cards I've had. Varies from card to card but I know the following charge a higher interest:

Virgin; Blue Bean; Nedbank

 

[rubytox]

Last December I bought a fridge and the cashier charged it to my budget facility (after I had told her to charge it to straight) When I checked my balance, I could not believe how little I owed, until I checked the detailed balance. :twisted:*&%
I had to phone FNB card division to transfer it from budget to straight.

Maybe they have changed their system but as far as I know, you cannot transfer it via internet banking ... I hardly ever use the budget facility because of the high interest rate.