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A couple of month's ago all the 2016 GM Lambda Platform(Acadai, Traverse & Enclave) owners were offered a settlement of $750 for a misprint on their mileage stickers and we just received ours in the form of a Pre-Paid Mastercard, paynuver(?) for which "ATM and other cash access transactions are not permitted with this card". I hate these stupid, scamy cards so I want this spent as quickly as possible, either transferred into our bank account, applied against mortgage, etc. but when I tried to get the information to ACH this the lady on the line said we have to use this for individual purchases and I can't do what I want because those would be considered a 'cash withdrawl' and wouldn't help me. 

Does anyone have experience with these or have a method for me to convert these into cash and without paying any fees? 

TIA

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If somebody OWES me $750, refuses to pay it, and sends me a gift card, yes, that's 'scammy'.
If somebody offers me a 'VIS... (more)

taxmantoo (Aug. 30, 2016 @ 5:10p) |

Taxmantoo: This situation is entirely different from the two that you presented. In this case, GM was caught committing ... (more)

knulla (Aug. 30, 2016 @ 5:38p) |

Yeah, but I prefer loading up the Amazon account with Amazon gift cards purchased at .75 or .8 from Amex Offers (15/60 A... (more)

centrifuge41 (Aug. 31, 2016 @ 2:53p) |

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DShaw94 said:   A couple of month's ago all the 2016 GM Lambda Platform(Acadai, Traverse & Enclave) owners were offered a settlement of $750 for a misprint on their mileage stickers and we just received ours in the form of a Pre-Paid Mastercard, paynuver(?) for which "ATM and other cash access transactions are not permitted with this card". I hate these stupid, scamy cards so I want this spent as quickly as possible, either transferred into our bank account, applied against mortgage, etc. but when I tried to get the information to ACH this the lady on the line said we have to use this for individual purchases and I can't do what I want because those would be considered a 'cash withdrawl' and wouldn't help me. 

Does anyone have experience with these or have a method for me to convert these into cash and without paying any fees? 

TIA

That would just about cover my phone bill and electric bill.  Presto - spent.  

Seriously, just use it.  What's the big deal?  

You seem absurdly strongly wanting to get rid of it. Just Open two PayPal accounts and PayPal it to yourself. Alternatively, just use a square account and pay yourself. Alternatively, send me the card and I'll give you $700 cash

DShaw94 said:   
Does anyone have experience with these or have a method for me to convert these into cash and without paying any fees? 

Nope. And as a rebate card, it likely doesn't have a PIN number either, to use for debit purchases. Just consider it a $735 settlement, and spend it instead of using the 2% cashback card you'd usually use.

These are only "stpuid, scamy cards" as far as any monthly fee that gets charged after XX months. Just make sure to use it up by then, otherwise there's no reason to force the issue.

Go to your favorite supermarket and purchase a GC. Then use it for groceries...

Pay utilities on line. You may get a month or two ahead, but not a big deal for most of them.
IF you pay IRS quarterly payments, there is a small fee, but debit cards fees are very small.  ... as low as $2.50 flat fee

https://www.irs.gov/uac/pay-taxes-by-credit-or-debit-card

They're scammy because they want you to use this for numerous small transactions(the CSR actually said this, "Y'all are supposed to use this for regular spending sir, I dont know why you'd want to transfer this to your bank account.." ). Ultimately, you'll lose track of the exact balance, cant access the sh*t on-line balance website and then give up and lose the card which still has some odd amount of $18.72 or something on it.

This won't happen to me because I'm FW4LIFE but I dislike financial products designed, primarily, to take advantage of the dissorganized and non-fiance savy.

Thanks for the input, for those that offered. I just don't have any $1,000-ish purchases waiting in the pipe to clear this card out with no fees.

DShaw94 said:    Ultimately, you'll lose track of the exact balance, cant access the sh*t on-line balance website and then give up and lose the card which still has some odd amount of $18.72 or something on it.
can't blame a company or product for your own irresponsibility.
I just don't have any $1,000-ish purchases waiting in the pipe to clear this card out with no fees.
Do you routinely lose your credit cards too? Because there's really no difference between the two, except for the fact you don't have to pay a bill each month. If it's really this big of an issue, you've probably already lost the car that got you this settlement because you forgot where you parked.

Glitch99 said:   
DShaw94 said:   Ultimately, you'll lose track of the exact balance, cant access the sh*t on-line balance website and then give up and lose the card which still has some odd amount of $18.72 or something on it.

 

can't blame a company or product for your own irresponsibility.
I just don't have any $1,000-ish purchases waiting in the pipe to clear this card out with no fees.
Do you routinely lose your credit cards too? Because there's really no difference between the two, except for the fact you don't have to pay a bill each month. If it's really this big of an issue, you've probably already lost the car that got you this settlement because you forgot where you parked.

I was robbed at gun point.
I called my CC issuer up, and they sent me a new CC.
I called the debit card issuer up, and they said go pound sand.
I will not get deep into the benefits that a CC offers over a debit card, but how about warranty extension, theft/breakage protection, rental insurance, cash back....
So yes. There is a difference.

dcwilbur said:   Seriously, just use it.  What's the big deal?  The big deal is that the whole damn rebate industry has switched from issuing checks to issuing these stupid scammy cards. It costs money to spend them. At least 2%.

OP - did you read T&C? For some rebate cards you can call the issuer and have them cancel the card and send you a check instead.

That and they get to track everything you do with the card. What did you buy, where and when? Scammy is very very nice word for the total evil that these cards are. You have been made a victim a second time.

DShaw94 said:   ...
This won't happen to me because I'm FW4LIFE ...
 

  +1 for the phrase.  I suggest you trademark it. 

OP -- I think you just need to decide which option you are going to move ahead with.  You can use it for regular spend (and if you are FWF, then you'll track the balance and not lose the card).  You can pay taxes or pay bills using one of the several sites that allow that with a debit card.  Yes, you'll pay a fee.  If you want to get the money this way, then you pay the fee.  Your call, not someone forcing you to lose your money -- it's your choice. 

There are some CCs you can pay with a credit card over the phone, fee free.  

You might be able to buy a money order and deposit it in your checking account.  Time and money, but again, your call on what you want to do.  

Scripta mentioned calling in to see if you can get a check.  It might work, it might not, so you'll have time invested that may or may not prove fruitful.  Again, your choice. 

Me?  I'd use one of the online bill pay services and be done with it and get back to using my ca$hback credit card for regular spend.  

Definitely a First World problem.  Not worth the Chipotle Burrito factor angst.  

DShaw94 said:   They're scammy because they want you to use this for numerous small transactions(the CSR actually said this, "Y'all are supposed to use this for regular spending sir, I dont know why you'd want to transfer this to your bank account.." ). Ultimately, you'll lose track of the exact balance, cant access the sh*t on-line balance website and then give up and lose the card which still has some odd amount of $18.72 or something on it.
  Nothing scammy about it. And how the hell would you lose this card any more than you would lose your regular credit card? Just put it in your wallet on top of your regular card, then when you go to pay for something, it will be right there where you normally reach for your regular card.

rsuaver said:   Go to your favorite supermarket and purchase a GC. Then use it for groceries...
  Or go to your favorite supermarket and purchase groceries. Duh!

notpod said:   That and they get to track everything you do with the card. What did you buy, where and when? Scammy is very very nice word for the total evil that these cards are. You have been made a victim a second time.
 And they also implant a chip in your brain while you sleep? About the most paranoid post I've read on here in a long time. Guess the tinfoil hat isn't enough?

I'd rather get "tracked" on an anonymous prepaid gift card, even if it can somehow get tied back to me through 12 degrees of separation after a lengthy and costly investigation, than on my own credit card that has my name listed directly on it. That's a big reason why I'm willing to give up the extra 1-2% I could get if I found a more efficient way to melt ice cream. But I'd rather just trade frozen ice cream for better stuff.

If you buy from Amazon regularly, you can buy an Amazon gift card for the full balance and add it your account. I do this all the time with the small rebate cards that aren't worth trying to spend at a store.

wizardking said:   
Glitch99 said:   
DShaw94 said:   Ultimately, you'll lose track of the exact balance, cant access the sh*t on-line balance website and then give up and lose the card which still has some odd amount of $18.72 or something on it.


can't blame a company or product for your own irresponsibility.
I just don't have any $1,000-ish purchases waiting in the pipe to clear this card out with no fees.
Do you routinely lose your credit cards too? Because there's really no difference between the two, except for the fact you don't have to pay a bill each month. If it's really this big of an issue, you've probably already lost the car that got you this settlement because you forgot where you parked.

I was robbed at gun point.
I called my CC issuer up, and they sent me a new CC.
I called the debit card issuer up, and they said go pound sand.
I will not get deep into the benefits that a CC offers over a debit card, but how about warranty extension, theft/breakage protection, rental insurance, cash back....
So yes. There is a difference.


Obviously, if you need rental insurance, you use a card that offers rental insurance instead. Most FWers have 5-6 different cards they use based on which offers the best beenfit for a particular transaction. There are plenty of other purchases where those "added benefits" are irrelevant. Like I initially said, just consider it a $735 settlement (with a $15 offset for lot cashback) and spend it instead of using your 2% cashback card.

And you arent told to "pound sand" in the event of fraud, unless you didnt bother to record the account number before the physical card was stolen.
notpod said:   That and they get to track everything you do with the card. What did you buy, where and when? Scammy is very very nice word for the total evil that these cards are.
 How is it any different from any other piece of plastic you use?  Unless you are claiming it's Visa/Mastercard that is scammy, but that has nothign to do with the prepaid card itself.

I had a visa GC from an electronics rebate that I didn't realise expired until I noticed on the LAST DAY. After a run around I found I could buy a paypal money card for the amount sans 4 bucks.

I didn't do this as I pay for many things through my paypal (for online ordering, its alot easier vs digging for my credit cards) but I belive I could transfer the money now in my paypal account to my bank account, thus being a GC money > pay pal > cash transfer.

SCAM

skam/noun informal 

  1. a dishonest scheme; a fraud.



There is nothing "scammy" about these cards at all.  Put it in your wallet, in front of the credit card you usually use, and spend, spend, spend.  When it is all gone, throw it away.  If that's too much trouble, log in to one of your favorite utilities - phone, electric, etc. - and make one big fat payment of $750.  Most will let you prepay.  If either of those are too much trouble, send it to me and I'll spend it for you.

so you dont have anything to purchase anymore....food, clothes, electronics, TP, Gasoline, ..any utilities??..cmon ,you gotta be kidding.

dcwilbur said:   
There is nothing "scammy" about these cards at all. 

Well... 10 month expiration dates are. My cards all have multi year expires on them. Meanwhile these guys make interest on my money sitting on the gift card. What is scammy is they stopped doing checks or deposits. 

OP owned a car for which there was a misprint on the advertised mileage and would probably have no idea about it were it not for this settlement. It’s basically found money and the idea the form of the payment is unacceptable to the OP, is laughable.

teeoff said:   If you buy from Amazon regularly, you can buy an Amazon gift card for the full balance and add it your account. I do this all the time with the small rebate cards that aren't worth trying to spend at a store.
  
Where mine usually go.  Either that or I make a "one time" cell or power payment.  Once the payment goes through delete the card.

Some debit cards (YMMV) will let you cash advance the money out in its entirety. Used to be the way to liquidate reloadable One Vanilla cards.

But, for about 68 cents, you can get a money order at most Walmarts with your card, assuming it is Pinnable - or for 1.88, you can bill pay a credit card you have.

you can't use any sort of credit card for money orders anymore...

but the paypal option is your best bet.

Just do a paypal to a friend for $750.00 and add that card to your paypal and use it to fund it. Your friend will end up with approx $730 after paypal takes it's 3% fee.
Then have them send it back to you via Friends and Family (there's no charge as long as the money is in the paypal account and not funded from a CC).

so for $20 and about 2 minutes... you'll have $730 "laundered" money in your paypal to then cash out to your bank account

robstahl21 said:   you can't use any sort of credit card for money orders anymore...

but the paypal option is your best bet.

Just do a paypal to a friend for $750.00 and add that card to your paypal and use it to fund it. Your friend will end up with approx $730 after paypal takes it's 3% fee.
Then have them send it back to you via Friends and Family (there's no charge as long as the money is in the paypal account and not funded from a CC).

so for $20 and about 2 minutes... you'll have $730 "laundered" money in your paypal to then cash out to your bank account

  I wouldn't do that, at least not the last part.  Have your friend withdraw it and then give you the $730 some other way, not involving paypal.

robstahl21 said:   so for $20 and about 2 minutes... you'll have $730 "laundered" money in your paypal to then cash out to your bank account
  We do not like to use that term on FW. That and "structured."

atikovi said:   
robstahl21 said:   so for $20 and about 2 minutes... you'll have $730 "laundered" money in your paypal to then cash out to your bank account
  We do not like to use that term on FW.
 

  
Even when I accidentally leave a twenty in my pocket on laundry day?

DTASFAB said:   
robstahl21 said:   you can't use any sort of credit card for money orders anymore...

but the paypal option is your best bet.

Just do a paypal to a friend for $750.00 and add that card to your paypal and use it to fund it. Your friend will end up with approx $730 after paypal takes it's 3% fee.
Then have them send it back to you via Friends and Family (there's no charge as long as the money is in the paypal account and not funded from a CC).

so for $20 and about 2 minutes... you'll have $730 "laundered" money in your paypal to then cash out to your bank account

  I wouldn't do that, at least not the last part.  Have your friend withdraw it and then give you the $730 some other way, not involving paypal.

  why not???  you think paypal cares??!!   they just made $20 off of you by doing nothing...  they would LOVE people to start sending money back and forth to each other.

robstahl21 said:   
DTASFAB said:   
robstahl21 said:   you can't use any sort of credit card for money orders anymore...

but the paypal option is your best bet.

Just do a paypal to a friend for $750.00 and add that card to your paypal and use it to fund it. Your friend will end up with approx $730 after paypal takes it's 3% fee.
Then have them send it back to you via Friends and Family (there's no charge as long as the money is in the paypal account and not funded from a CC).

so for $20 and about 2 minutes... you'll have $730 "laundered" money in your paypal to then cash out to your bank account

  I wouldn't do that, at least not the last part.  Have your friend withdraw it and then give you the $730 some other way, not involving paypal.

  why not???  you think paypal cares??!!   they just made $20 off of you by doing nothing...  they would LOVE people to start sending money back and forth to each other.

Why don't you try it several times a month and then come back here to let us all know how it's working out for you?

I received a rebate card from GMC as well, having purchased a new vehicle from them in the past couple years. I signed up to fatwallet just to reply here because I found a way to get the rebate into cash.

It's really easy but you have to know the trick first. Transcard (which services the accounts) says you can't set a pin on the debit card. However, I found out that Transcard just sets a default pin. This is 0 + the three digit CVC. So if your CVC is 059, the pin is 0599. Then just go to USPS and buy money orders and drain the account. I did this today and just deposited them.

Unrelated, but a side note: A few people here have mentioned that this is just a "window sticker" issue and it's basically free money. GMC is calling it a "window sticker" issue (saying that the numbers on the window sticker were just accidentally misprinted, for 7 years). If you read any of the class action lawsuits going on, it's clear that GMC is totally downplaying their actual misbehaviour. The false gas mileage statements were made throughout ALL GMC's marketing materials, including pamphlets, websites, etc. They then got caught and offered these rebates to folks if they agreed to never take legal action against GMC. I strongly considered litigation or joining a class action, but in the end decided that while GMC likely did commit fraud against me, it wasn't worth the effort and just took it.

If somebody OWES me $750, refuses to pay it, and sends me a gift card, yes, that's 'scammy'.
If somebody offers me a 'VISA Rebate Card' as an enticement to purchase their product, there's nothing wrong with that.

The worst version of that scam I've seen was when a community college took student loan checks and converted them to gift cards against the students' will.

 

Taxmantoo: This situation is entirely different from the two that you presented. In this case, GM was caught committing what may be judged fraud and false advertising, then sent out prepaid debit cards as incentive for folks to not sue them. These aren't free money because there is actually a large cost associated with their fraud in both gas expense increase and resale value being damaged.

GMC customers are free to reject their offer and pursue legal redress otherwise (or not at all). However it is pretty scammy of them to offer redress in this way, while downplaying the extent of their shady practices, and then give out refunds as these shitty cards.

teeoff said:   If you buy from Amazon regularly, you can buy an Amazon gift card for the full balance and add it your account. I do this all the time with the small rebate cards that aren't worth trying to spend at a store.
  Yeah, but I prefer loading up the Amazon account with Amazon gift cards purchased at .75 or .8 from Amex Offers (15/60 Amazon, 10/50 Joann, etc). There's no optimal approach to pin-less v/mc/amex gift cards, but to spend them at non-bonus category merchants



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