Apple Pay to fund 212

When we use Apple Pay and fund using credit card, will be there be any charges from Bank?

The usual charges apply for cash advances, id check your credit card agreement to see what these will be.

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I fund my account mainly via Apple Pay linked to my CC and my bank has not charged me a single fee so far.

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Thanks both.:+1:. Will check it out

I wouldn’t advise it. Only because there could be problems when it comes to withdrawing (Nothing huge). You may need to provide proof of ID to T212 to get it withdrawn to a different account. Or you withdraw the funds to your CC and ask them to transfer it to your bank.

Either way, it will likely extend your withdraw period/complicate it slightly.

I’m not anticipating any problems with withdrawals. If that was the case then I’m sure users would have already have raised this issue on the forum and T212 wouldn’t offer Apple Pay as a way of funding our accounts or limit it to debit cards only.
Even without Apple Pay, we can still fund our accounts freely via CC as an option. I have several times and not incurred any fees on either CC I’ve used.
If funds are withdrawn back to CC (either via Apple Pay or directly) i agree it will involve a call or the bank to ask them to transfer funds to my main bank account… but I see that as a minor inconvenience in comparison to the massive plus points and convenience of using Apple Pay.

Could T212 confirm if there are likely to be any issues with withdrawing to a CC via Apple Pay?

There won’t be any issues withdrawing via Apple pay to a CC. I just thought I would point out the drawbacks.

I use Apple Pay with Revolut and haven’t paid any additional fee whatsoever :slight_smile:

Isn’t Revolute a bank account and not a credit card?

Thanks for confirming the zero fee though.

I am not sure how your CC works, but I read about possible charges by issuer when depositing back to CC.

So how I do it personally, use CC to charge Revolut, then deposit via Revolut. You get the reward points/cashback and no potential issue to withdraw back the money.

Until CC issuers get smart and block Revolut top up :thinking:

I used this method with Revolute, funded by CC, to fund my Coinbase crypto account. It didn’t take long before they clicked on and blocked this method across the board.

I am sure over time things will change and we’ll probably be restricted on using CC as a funded method (without bank fees) even via Revolute. Note I have also used this method with T212, until I tried using my card directly with Apple Pay… and to my amazement there were no fees. Not expecting this to last forever.

In terms of fees on withdrawal, my card will just be in credit and any credit can be moved to my bank account with a quick phone call to the bank without any charge. This is not classed as a money transfer, as the balance is in credit so it’s essentially my money.

A good example of this is when you purchase something on CC, pay off the balance and a couple of months later the item becomes faulty and you get a refund. The refund goes to the CC and then your bank allows you to credit this over to your current account if you so wish.

No problem :wink:

Revolut may be hard to understand for someone that has not tried these new fintech stuff, but I’ll try to sum up.

As a Revolut user you get access to multiple bank accounts (1 per supported currency) and access to a physical debit card (besides virtual cards and temporary cards if you’d like).

You can then associate any of those cards to Apple Pay, and use them (via Apple Pay) as if you’re using the physical card. You won’t pay any fee to Revolut or Apple.

The cards themselves are not credit cards, but rather debit cards. So when you use them, the balance will be taken from you Revolut account (as long as you have enough money ofc).

Regarding coinbase, I use Coinbase Pro, and I am able to fund the account very quckly using the free instant transfers from Revolut. Not as cool as being able to use Apple Pay, and have it funded instantly, but after the 1st setup you can easily fund it, and the money will be available in like 5 minutes :slight_smile:

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Thanks for the detailed response, I do use Revolute and I am very familiar with the platform amongst others I use.

I regard to Coinbase, it may be different for yourself as a Pro user or you may not be funding your Revolute account primarily using a CC. Either way, there are quite a few forum topics regarding the two on their own forum and on Reddit.

In regard to T212, I really hope we don’t run into any issues with this method of funding. From T212s point of view all they see is funds coming from a current account or debit card, but Revolute may flag if funded via CC in future, similar to have they have put restrictions in place with Coinbase. They also offer a basic brokerage service, as I’m sure all are aware, so hopefully they don’t get jealous of the competition.

I use all three of these platforms on a regular basis and I’ve generally only ever had positive experiences :+1:

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Talked to the help desk of 212, they said there is no fee, but need to check on the card side