[Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee) - eBay Suspended & PayPal Limited Forums
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Old 07-10-2017
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Default [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

1) Head over to https://stripe.com, create an account and verify what you need to verify using your own information. After all, you're not doing ANYTHING wrong so you have nothing to hide.

2) Once you have made your stripe account head over to https://selly.gg/, create an account and link your API codes from Stripe in the settings page.

3) However much you have in the prepaid card, lets say its $95.. Go ahead and create a random product for $95.

4) Use the prepaid card to buy the $95 item off yourself, the card will empty and it will now be pending in your Stripe account.

5) After 7 days the balance will be released and you can cash it out into your bank account.

The cost of this process is 2.9% + 30c.
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

thanks for the headsup
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Old 07-11-2017
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

You can also use Payoneer and send an invoice to youself, then you pay with your credit card. About 3% fee. I dont even need a US bank account to withdraw from it.
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

Quote:
Originally Posted by nimade71 View Post
You can also use Payoneer and send an invoice to youself, then you pay with your credit card. About 3% fee. I dont even need a US bank account to withdraw from it.
Also another decent way.
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

There was a time, (a long time ago), when I had a credit card terminal at my business, and once in a while I would run one of my credit cards to get a short term loan.

If you paid it back before the grace period it was cheap money. I always worried something would go wrong, though.
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

Quote:
Originally Posted by dallis View Post
There was a time, (a long time ago), when I had a credit card terminal at my business, and once in a while I would run one of my credit cards to get a short term loan.

If you paid it back before the grace period it was cheap money. I always worried something would go wrong, though.
Clever.
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

Cashflow is always an issue in small businesses. You learn these things to survive. :(
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Old 07-12-2017
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

can i repeat if i've got more cards?
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Old 07-12-2017
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

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Originally Posted by Fuhrer84 View Post
can i repeat if i've got more cards?
Yes, you're doing nothing illegal by spending your own prepaid card..
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

No offense to OP (this is a very good guide, not trying to hijack the thread) but I do the exact same thing with Square and square reader and it works flawlessly and extremely quickly.
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

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Originally Posted by AK81 View Post
Yes, you're doing nothing illegal by spending your own prepaid card..
anyway to make US payment gate with (EIN) only?
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

Quote:
Originally Posted by AK81 View Post
Yes, you're doing nothing illegal by spending your own prepaid card..

This is bad advice no offence. I used to do this but after like 15 prepaid cards i got banned for "abusing the service" . this is a great method if u got a method like me to get multiple accounts on that site although.
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Old 07-13-2017
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

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Originally Posted by austyn12x View Post
This is bad advice no offence. I used to do this but after like 15 prepaid cards i got banned for "abusing the service" . this is a great method if u got a method like me to get multiple accounts on that site although.
Why is it bad advice? I dont see anything wrong with cashing out your own prepaid cards (https://stripe.com/gb/prohibited-businesses), feel free to quote a clause which may breach that.

Furthermore, if you're paranoid simply make the purchase (unload of the card) on a VPN, even Tor to avoid any link to your Stripe account.

It seems you're more interested in flaunting 'your method' to potentially attract sales via PM thus the need to discredit the original guide.
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Old 07-13-2017
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

Quote:
Originally Posted by fox20c View Post
No offense to OP (this is a very good guide, not trying to hijack the thread) but I do the exact same thing with Square and square reader and it works flawlessly and extremely quickly.
I have used Square before without issue, but according to a user who posted a guide on how to cash out @ an 8% rate, Square does not work so I simply posted this as an alternative.
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Old 07-13-2017
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

Quote:
Originally Posted by dallis View Post
There was a time, (a long time ago), when I had a credit card terminal at my business, and once in a while I would run one of my credit cards to get a short term loan.

If you paid it back before the grace period it was cheap money. I always worried something would go wrong, though.
I had this at a time - only thing that can go wrong is if you process TOO MANY or you process ONLY gift cards, basically
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  #16  
Old 07-30-2017
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Default Re: [Method] Turning a Prepaid Giftcard into Cash (2.9%+30c Fee)

very smart workaround thank you!
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