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footfree

You Gov- now has bank transfers

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footfree

Went to look at their rewards and this new one popped up-You can get a bank transfer for  $50 for 67,500 pt.s or $100 FOR 100,000 pt.s. I will wait for the bigger payout with less points to give up.How safe and secure do you feel doing this?I mean that's the only way to get cash or you could trade in 100,000 points for a $100 gift card to Amazon.Here's what it said on the site

Get $100 cash paid directly into your bank account, using our fast and secure payment service!

 

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NaomiNo

Considering I've been saving up for the $100 Visa card that is now totally gone (and that I'm only 3,000 points away from), I guess I have no choice but to use the bank transfer when the time comes.  I remember doing that with Springboard America a while back and it worked out fine - I can't speak to yougov since I haven't used it yet but usually you're not giving out any information that isn't already at the bottom of a check, something people been handing out to strangers (with our signature to boot!) for many, many years.  Cash is definitely better than a Visa card and I guess this is one way to offer it while avoiding dealing with PayPal and their fees and also not having to pay money for postage mailing out checks.

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footfree
19 hours ago, NaomiNo said:

Considering I've been saving up for the $100 Visa card that is now totally gone (and that I'm only 3,000 points away from), I guess I have no choice but to use the bank transfer when the time comes.  I remember doing that with Springboard America America a while back and it worked out fine - I can't speak to yougov since I haven't used it yet but usually you're not giving out any information that isn't already at the bottom of a check, something people been handing out to strangers (with our signature to boot!) for many, many years.  Cash is definitely better than a Visa card and I guess this is one way to offer it while avoiding dealing with PayPal and their fees and also not having to pay money for postage mailing out checks.

Your right. I was skeptical using Springboard America when it first came out but it was fine.Only problem with it is I don't understand why it takes SA  so long to put the money into your account.I don't think it should take what is it?5 to 6 weeks for the transaction to take place.I wonder how long it  will take you gov to do this?

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rosiesmom

They used to mail $100 checks.  I like the idea of a bank transfer way more.

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Kcnavy313

I wished I had searched the forum a little better, I just started a topic about this, can't decide if I should do the bank transfer. I usually got the Walgreens gift card but I don't see it anymore.

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Kcnavy313
On 7/13/2018 at 9:06 PM, NaomiNo said:

Considering I've been saving up for the $100 Visa card that is now totally gone (and that I'm only 3,000 points away from), I guess I have no choice but to use the bank transfer when the time comes.  I remember doing that with Springboard America America a while back and it worked out fine - I can't speak to yougov since I haven't used it yet but usually you're not giving out any information that isn't already at the bottom of a check, something people been handing out to strangers (with our signature to boot!) for many, many years.  Cash is definitely better than a Visa card and I guess this is one way to offer it while avoiding dealing with PayPal and their fees and also not having to pay money for postage mailing out checks.

Never thought about the account number on the front of the checks. That makes sense. I was 50/50 before I read this, now I'm leaning towards doing the bank transfer 70/30. Big help. Thank you

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Kcnavy313

I wonder with the bank transfer what kind of bank fees would apply?

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mnleona
Quote

I have been wondering if I wanted  to do the bank deposit. Thanks for the info.

 

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peach6

Still not convinced that's what I want to do

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footfree
9 hours ago, Kcnavy313 said:

I wonder with the bank transfer what kind of bank fees would apply?

With the  bank transfer from  Springboard America it doesn't cost anything.Just like Paypal it doesn't cost me anything  either.My credit union only allows 6 transfers per month however  I think that is when I am doing it from my checking to my savings.You can call your bank and ask but I really don't think it should cost you anything.If anyone is going to be charged it would be you gov. (Not positive, but pretty sure))

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Kcnavy313
On 7/18/2018 at 9:11 AM, footfree said:

With the  bank transfer from  Springboard America America it doesn't cost anything.Just like Paypal it doesn't cost me anything  either.My credit union only allows 6 transfers per month however  I think that is when I am doing it from my checking to my savings.You can call your bank and ask but I really don't think it should cost you anything.If anyone is going to be charged it would be you gov. (Not positive, but pretty sure))

They charge $16.00 US dollars for a bank transfer.  With yougov I'm eligible for $50.00 but I'm going to try and hold out. Thanks for the advice.

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footfree
2 hours ago, Kcnavy313 said:

They charge $16.00 US dollars for a bank transfer.  With yougov I'm eligible for $50.00 but I'm going to try and hold out. Thanks for the advice.

So they are going to charge you $16 for you gov to pay you?That's rather expensive.I have never been charged for a transfer- however I am with a credit union not a bank.Banks will nickel and dime you ,when you have a account with a credit union you have what is like part ownership. Credit unions are not-for-profit financial cooperatives, whose earnings are paid back to members in the form of higher savings rates and lower loan rates .However banks are only accountable to their share holders that is why they charge more from loans to checking accounts.Plus their interest rates on savings accounts are lower- even IRA'S.Soory I guess you can tell I am not a fan of banks.I will only use if they are cheapest route to go.

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NaomiNo

Just cashed out for the $100 bank transfer, will let you all know how long it takes.  In addition to confirming name and address like with any other cash out, they asked for routing number, account number, and type of account (checking or savings).  Last time I did this with Springboard America, I wasn't charged any fees at my regional bank.

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footfree
25 minutes ago, NaomiNo said:

Just cashed out for the $100 bank transfer, will let you all know how long it takes.  In addition to confirming name and address like with any other cash out, they asked for routing number, account number, and type of account (checking or savings).  Last time I did this with Springboard America America, I wasn't charged any fees at my regional bank.

I really don't think they should charge.I have never heard of one doing that.

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NaomiNo

Well that was fast!  Cashed out on 7/25 and received the $100 on 7/30 (technically was pending on 7/30 and became available today).  I did not receive ANY notification from yougov regarding the request or it being sent, it just appeared in my checking account.  They are using Hyperwallet for it, as that's what's listed in the bank transaction description.

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