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Posted 27 March 2013 - 10:58 AM
Posted 27 March 2013 - 12:17 PM
I'm not entirely sure why you would ask that sort of question. Seems like basic financial literacy.
Credit cards don't work that way.
Credit cards are designed to be one-way devices; they transfer funds from a line of credit to a merchant's account using an intermediary.
It looks like you have two options for their payments:
1) They can send you a paper check; you deposit that check somewhere and it causes an EFT.
2) They can deposit it directly with an EFT.
A paper check has extra risks. The paper can be lost, stolen, or damaged. Paper checks can be forged or tampered with. A paper check has extra costs, it needs to be handled, mailed, then handled again, costing both time and money.
Is there some reason you can't do a traditional EFT? I know that some places of the world distrust banks or have high bank fees, does that apply in your case?
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Posted 27 March 2013 - 12:20 PM
Only reason I can think of his wanting to use a credit card is that it is in actuallity a hybrid card i.e. Savings/credit facility (which counts as a bank account) otherwise as per Frob comments regarding credit cards.
Edited by Stormynature, 27 March 2013 - 12:21 PM.
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