Did you know you can Fund Your Bank Account with a Credit Card? When you visit HustlerMoneyBlog you get exposed to hundreds of different bank bonuses that allow you to fund your bank account with a credit card.
By learning on which bank lets you fund your account with a credit card as a purchase, you can earn cash back and meet credit card spending requirements.
We want to help our readers make the most out of these offers without draining their bank accounts, so we’ve put together a list of banks that will allow you to use a credit card for your opening deposit. With the right card and the right bank, your initial funding may be recorded as a sale or purchase that will not count as a cash advance.
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The table below separates different credit card funding methods into purchases and cash advances. You want to avoid the cash advances because these transactions will usually come with fees that will diminish your earnings. Avoid cash advance fees by setting your credit card cash advance limit to $0. Just call up your bank and request your cash advance limit be set to $0.
Disclaimer: HustlerMoneyBlog cannot guarantee that these funding methods will be successful for everyone. It is always a good idea to double check and call or email each bank to verify the information. YMMV with the information below.
| Bank/Credit Union | As Purchase | As Cash Advance | Notes |
|---|---|---|---|
| 1st Mariner Bank | PenFed Platinum Visa 1, Schwab 1 | Bank of America 1, Barclaycard Arrival, Chase Rapid Rewards, Citi AA | Fund account up to $2500. (no Amex card) |
| 1st United Credit Union | Chase Hyatt 1, Chase Ink Preferred 1, Chase Marriott 1, Citi Doublecash 1 | Bank of America 1, Barclaycard Arrival, Chase Rapid Rewards, Citi AA | Fund account up to $2000. |
| Advantis Credit Union | Visa 1, Mastercard 2, Discover 3 | Unknown | Can fund up to $2,550 with a credit card (Visa, Mastercard or Discover all accepted) |
| Amalgamated Bank | Citi Double Cash, Chase Sapphire Preferred | None | Available online nationwide. Visa and MasterCard only. |
| America’s Credit Union | None 1 | None 1 | This credit union does not accept online credit card funding. |
| American Eagle Financial Credit Union | Citi Double Cash | Fund both savings and checking up to $500 each. Mastercard, Visa & American Express are accepted (No Discover) | |
| Andigo | Chase IHG 1 | Can fund up to $500 with a credit card (American Express, Visa, Mastercard & Discover all accepted) | |
| Arizona State Credit Union | Unknown 1 | Unknown 1 | You can fund your account with up to $2500 from a credit card. |
| Associated Bank | Barclay Arrival 1, Chase Freedom 1, Citi Double Cash 1 | You can fund a new account with up to $200 from a credit card, AMEX is not accepted. | |
| Bank of America | None | None | Does not allow credit card funding, but you can with debit card up to $300 |
| Bank of Colorado | Chase Freedom, Chase IHG, Chase Ink, Chase Southwest | None | Fund up to $1000 |
| Bank of the West | BoA Cash Rewards, Capital One Venture, Chase Freedom Unlimited/Hyatt, Citi AA, Fidelity Visa | Fund up to $500 with Visa/MasterCard | |
| BankWell | Visa, MC, Discover | Unknown limit | |
| BB&T | BoA Merrill/Travel Rewards, Chase Freedom/Sapphire Preferred/Sapphire Reserve/Southwest Premier, Citi Hilton/Hilton Reserve/ThankYou Premier | Fund up to $250 with credit or debit card | |
| BBVA Compass | BoA Alaska Airlines British Airways/Merril, Citi AA | BofA Alaska, Barclay Priceline and Chase Hyatt cards showing as cash advance. 1 Chase British Airways/Business United/Marriott Business/Sapphire Reserve, Chase Sapphire Preferred 1, Capital One Cashback/ Quicksilver 1 | You can fund a new account with up to $5k, (Amex & Mastercard not allowed) Only personal cards are allowed and seems like you can also fund savings account for another $5k. |
| Blue Hills Bank | Barclay Arrival 1, Barclay Miles & More 1 | You can fund a new account with up to $1000 from a credit card. | |
| Blue Federal Credit Union | You can fund a new account with up to $3,000 | ||
| BMO Harris Bank | None 1 | None 1 | Does not allow credit card funding |
| Cambridge Savings Bank | Chase Ink Preferred 1 | Fund up to $1,000 with Visa/MasterCard/Discover (AMEX not accepted) | |
| Camden National Bank | Fund up to $500 with a Visa or MasterCard | ||
| Central Bank | Fund up to $1,000 with a Visa or MasterCard credit card | ||
| Chartway Federal Credit Union | BoA Alaska Airways 1, Chase Freedom 1, US Bank Club Carlson 1 | You can fund a new account with up to $1500 from a credit card. | |
| Christian Community Credit Union | Can fund up to $100 for checking account | ||
| Citibank | Bank of America 1, Barclay AA 1, Barclay Arrival 1, Barclay Aviator 1, Barclay US Airways 1, 2, Citi AA Select 1, Citi Executive 1 | Barclay Priceline 1, Capital One Spark 1, Chase 1, Citi Hilton 1, Citi Platinum Select 1, Citi Premier 1, | Dead as of 2/9/2016 |
| CitadelCredit Union | Fund up to $500 | ||
| Citizens Bank | BoA Alaska Airways 1, BoA Travel Rewards 1, Chase Freedom 1 | Barclaycard Arrival, Citi ThankYou Preferred/ThankYou Premier, Discover it, USAA cards | Citizens Bank allows credit card funding up to $1,000 with Visa/MasterCard. |
| Clearview Federal Credit Union | Chase Sapphire Preferred | Fund up to $500 with Visa or Mastercard | |
| Clinton Savings Bank | Chase IGH 1, Citi Double Cash 1 | Fund up to $1000 with Visa, Mastercard & Discover | |
| Columbia Credit Union | Bank of America Card | Fund up to $2,500 | |
| CommunityAmerica Credit Union | Commerce Bank Cash Back card1 | Fund at least $2,000 | |
| Consumers Credit Union | Chase Freedom 1, Chase Hyatt 1, Citi Double Cash 1, Schwab Visa 1 | Citi AAdvantage 1 | You can fund a new account with up to $1000 from a Visa, MasterCard, or AMEX |
| Credit Union One | Fund up to $600 | ||
| Dearborn Savings Bank | Fund up to $500 (Coded as purchase - Reader email) | ||
| Elevations Credit Union | Chase Sapphire Preferred 1, 2 | You can fund a new account with up to $10000. | |
| First Advantage Bank | Chase Ink Business 1, Discover 2 | You can fund a new account with up to $10,000. | |
| FirstBank | Chase Freedom Unlimited 1 | U.S. Bank Club Carlson1 | Fund up to $600 |
| First Bank Virginia | Fund up to $1,000 | ||
| Fidelity Bank (PA) | Citi Double Cash | Fund up to $500 with a credit card (doesn’t matter how many accounts you open $500 is the limit). Can use Visa, Mastercard, American Express or Discover | |
| First Citizen's Bank | Barclay Sallie Mae 1, Chase Sapphire Preferred 1 | You can fund a new account with up to $1000. | |
| First Federal Bank | You can fund your account up to $500. Only Visa & Mastercard accepted. | ||
| FirstMerit Bank | Chase Sapphire Preferred 1 | You can fund a new account with up to $10000. | |
| First Midwest Bank | Non AMEX Card 1 | You can fund your credit card up to $2500 as long as it’s not an Amex card. | |
| First National Bank | Amex Everyday, Amex Mercedes Benz Platinum. Appears all payment networks accepted. | Fund up to $499 | |
| First Niagara Bank | Barclay Arrival 1, Capital One MasterCard1, Capital One Venture 1, 2, Chase Freedom 1, 2, Chase Sapphire Preferred 1, Chase Southwest 1, US Bank 1 | All Citi Cards 1, Discover 1, 2 | You can fund a new account with up to $1000. AMEX is not accepted. |
| First Tennessee Bank | Chase Ink Plus 1, Chase Sapphire Preferred 1, Citi Double Cash 1 Barclaycard Arrival Plus/NFL, Capital One Venture, Chase Freedom/Hyatt/Southwest Premier, Citi Business AA/Premier | You can fund a new account with up to $300. | |
| First United Bank | You can fund a new account with up to $200 (Visa, Mastercard & Discover) | ||
| GTE Financial | Chase 1, 2 | You can fund a new account with up to $215. | |
| GTE Financial | Chase 1, 2 | You can fund a new account with up to $215. | |
| HarborOne Bank | Chase Sapphire Reserve1, Citi American Airlines Business1, Citi ATT Access More1 | You can fund a new account with up to $500 | |
| iBERIABANK | Chase Hyatt1 | You can fund a new account with up to $500 | |
| Justice Federal Credit Union | Chase Freedom1, Chase Sapphire Preferred1 | You can fund a new account with up to $1000. (Visa & Mastercard) | |
| Liberty Bank | Visa 1 | You can fund a new account with up to $500. | |
| Los Angeles Federal Credit Union | Chase Southwest Business 1 | You can fund a new account with up to $500. Amex isn't accepted. | |
| Mainstreet Credit Union | You can fund a new account with up to $505. | ||
| Mazuma Credit Union | Alliant Cash Visa Signature 1 | You can fund a new account with up to $5000. | |
| Memory Bank | American Express Blue Business Plus1, American Express Delta Reserve1, American Express SPG Business1, Bank of America Travel Rewards1, Barclaycard Aviator1, Capital One Spark1, Chase Sapphire Preferred1, Chase Freedom1, Chase Freedom Unlimited1, Citi AA1 | You can fund a new account with up to $500. | |
| Michigan Schools and Government Credit Union | You can fund a new account with up to $1000 ($995 + $5 membership fee) | ||
| MountainOne Bank | Discover 1 | Chase 1 | You can fund a new account with up to $1000. |
| NASA Federal Credit Union | None 1 | You can fund up to $500 with a credit card | |
| Nassau Federal Credit Union | Visa/MasterCard | Fund up to $500 | |
| Newtown Savings Bank | Chase SW Premier Card 1 | Fund up to $1000 | |
| Northpointe Bank | Citi Double Cash | Fund up to $100 with credit/debit card | |
| North Shore Bank | Visa/MasterCard | Fund up to $5000 with credit/debit card | |
| Northwest Savings Bank | Barclaycard Arrival, Barclaycard Priceline Card, Chase IHG | Fund up to $1000 | |
| Ocean First Bank | Chase 1 BoA cards, Chase Marriott Business/Sapphire Preferred/Sapphire Reserve, Citi AA, Santander credit card | You can fund a new account with up to $100. | |
| Old National Bank | Barclaycard Arrival Plus1, Chase Southwest Plus 2, Citi American Airlines Business3, Citi Double cash4 | You can fund the account with up to $500. | |
| Orange County Credit Union | Capital One Spark, Chase British Airways, Citi Cards | Bank of America cards | Fund up to $5,000 with Visa/MasterCard |
| Pinnacle Bank | Capital One Spark 1, Chase Hyatt 1, Chase Ink Bold 1, Chase Ritz Carlton 1, Chase Sapphire Preferred 1, Chase United 1, Citi Double Cash 1, Citi Premier 1, Fidelity 1 | You can fund a new account with up to $1000/$5000. | |
| Premier America Credit Union | Can fund up to $500 across all accounts with a Visa or Mastercard. (Not sure what codes as a purchase) | ||
| Premier Members Credit Union | Barclaycard Arrival 1, Chase Sapphire 2 | Mastercard 1 | Can fund up to $500 across all accounts with a Visa or Mastercard. |
| PNC | Now coded as Cash Advance | ||
| Provident Bank | Citi Double Cash 1 | Fund up to $2,500 with Visa or MasterCard | |
| Provident Credit Union | Barclay Arrival 1, Chase 1, 2, Chase Sapphire Preferred 1 | Fund up to $1,000 with a credit card. Only Mastercard & Visa are accepted (No AmEx) | |
| Radius Bank | Citi Double Cash 1, Barclay Wyndham 1, Priceline 1 BoA Cash Rewards, Chase AARP/Hyatt, Citi Hilton | You can fund a new account with up to $1000. | |
| Regions Bank | Chase Marriott 1, Chase Southwest 1, Citi Double Cash 1 Barclaycard Arrival, Capital One Venture, Chase British Airways/Ink Plus/Sapphire Preferred | You can fund a new account with up to $1000 and another $1,000 when you open a free savings account | |
| Republic Bank | Chase Freedom | Fund up to $500 with Visa/MasterCard | |
| Rivermark Community Credit Union | Fund up to $2,520 | ||
| Rockland Trust Bank | Barclaycard Arrival Plus 1, Chase Ink Preferred 1, Citi AA Platinum 1 | Fund up to $2,500 with Visa, Mastercard, American Express & Discover | |
| Sandy Spring Bank | Chase Freedom Unlimited 1, Citi AA 1, Citi Double Cash 1 | Fund up to $250 with Visa/MasterCard | |
| San Mateo Credit Union | Fund up to $500 with Visa/MasterCard | ||
| S&T Bank | Fund up to $100 online | ||
| Santander Bank | Barclays NFL 1, Chase Freedom 1, Chase Sapphire Preferred1, Chase United 1 BoA Alaska Airlines/Cash Rewards/Travel Rewards, Barclays Aviator Red, Capital One Venture/Journey, Chase AARP/Sapphire Reserve/Southwest/Ink, Citi American Airlines/Hilton/ThankYou Premier, Fidelity | Citi MasterCard 1, Citi Prestige 1, Discover 1 | Allowed to fund it up to $500 with a Visa or Mastercard. |
| Signature Bank of Georgia | Fund with Visa, Mastercard or Discover (Unsure on limit or what counts as a purchase/cash advance) | ||
| Signature Federal Credit Union | Fund account up to $500 | ||
| Star One Credit Union | Citi Premier, Chase BA Avios | Fund account up to $1,000 | |
| State Bank of India | Fund account up to $3,000 with Visa or Mastercard | ||
| Suffolk Federal | BOA Cash Rewards 1 | Fund account up to $1,000 | |
| SunTrust Bank | Citi Dividend Mastercard 1 | You can fund a new account with up to $250. | |
| TCF Bank | Citi Double Cash 1 | Fund up to $1,000 | |
| TD Bank | BoA Cash Rewards, Citi AA/Hilton Honors Visa, US Bank FlexPerks | *Many have reported that Chase cards will revert to As Purchase after originally coding as Cash Advance. Capital One Spark Business, Chase Freedom Unlimited/Ink Cash/Marriott Business/Sapphire Preferred/Sapphire Reserve/United, Barclaycard Arrival/CashForward, Citi AA Platinum/Double Cash, Visa gift cards | Fund up to $1,000 with debit/credit card (for the Premier checking, unsure if the amount varies by account type) 1 |
| Tech Credit Union | Amex Everyday, BOA Alaska/Cash Rewards, Capital One Business Spark, Citi Cards, Chase Cards, Barclay Cards, US Bank Cards | Discover cards | Fund up to $125 |
| TruWest Credit Union | Fund up to $5000 (No info on what counts as purchase or cash advance) | ||
| Union Bank & Trust | Barclay Aviator 1, AMEX2 | You can fund your account with up to $2,000 on a credit card. | |
| Unitus Community Credit Union | You can fund your account with up to $750 on a credit card. (No datapoint on whether it's cash advance or purchase) | ||
| Unify Financial Credit Union | You can fund your account with up to $25 on VISA/MasterCard/Discover | ||
| U.S Bank | BoA Alaska Airlines 1, BoA Virgin Atlantic 1, Barclay Arrival 1, Barclay Aviator 1, Capital One Quicksilver 1, 2, Capital One Venture 1, Chase Brit Airways 1, Chase Freedom 1, Chase Hilton 1, Chase United 1, Chase Southwest 1, Citi HHonors Reserve 1, Citi Prestige 1, Discover 1 | You can fund your account with up to $500 on a credit card. | |
| VantageWest Credit Union | Barclaycard Arrival 1, Barclaycard Uber 1 | You can fund your account with up to $2,000 on a credit card. | |
| Wells Fargo | BoA Alaska Airlines 1, Chase Ink 1, Chase Sapphire 1 | All Citi Cards 1, 2, Discover 1 | You can only use a Visa or Mastercard to fund the account with up to $50 |
| Westfield Bank | You can fund your account with up to $500 on a credit card. (Unsure what counts as a purchase/cash advance) | ||
| Xenith Bank | You can fund your account with up to $2,000 on a credit card. |
Banks With No Credit Card Funding
- 1st Constitution Bank
- ableBank
- ACNB Bank
- All America Bank
- Alliant Credit Union
- Ally Bank
- Apple Bank
- AnchorBank
- Astoria Bank
- Avidia Bank
- BancorpSouth
- Bank of Canton
- Bank Direct
- Bank & Trust
- BankHometown
- Bank Mutual
- BankPurely
- BECU
- Bellco Credit Union
- BMT (Bryn Mawr Trust)
- Bridge Credit Union
- Bridgeview Bank Group
- Brightpeak Financial
- Carver Federal Savings Bank
- CCFBank
- CEFCU
- Charles Schwab Checking
- CIBC Bank
- CIT Bank
- Columbia Bank (NJ)
- Commerce Bank (MO, KS, IL, OK & CO)
- ConnexUs Credit Union
- Customers Bank
- DimeDirect
- Dollar Bank
- Dollar Savings Bank
- Elements Financial
- ESL Federal Credit Union
- First Bank And Trust
- First Bank Financial Centre (FBFC)
- FCB South County Bank
- First National Bank (UT)
- First National Bank (NE)
- Fifth Third (5/3rd)
- First Trade Union Bank (FTUB)
- First Republic Bank
- First Tech Federal Credit Union
- First Trade Union Bank (FTUB)
- Five Star Bank
- Flagstar Bank
- Freedom Credit Union
- Freedom Federal Credit Union
- Fremont Bank
- Fulton Bank
- Georgia Banking Company (GBC)
- Global Credit Union
- Greater Nevada Credit Union
- Great Southern Bank
- Heartland Credit Union
- Heritage Credit Union
- Home Savings Bank
- HomeStreet Bank
- Horizon Bank
- HSBC
- Huntington Bank
- ICBC USA
- Ideal Credit Union
- Incredible Bank
- Industrial Bank
- INOVA Federal Credit Union
- Integrity Bank
- Investors Bank
- Iowa State Bank
- Johnson Bank
- JSC Federal Credit Union
- Lakeland Bank
- LegacyTexas
- Level One Bank
- MB Financial Bank
- Mango Bank
- MidFirst Bank
- Midwest Regional Bank
- M&T Bank
- MVB Bank
- My Banking Direct
- Nationwide Bank
- Nevada State Bank
- New Buffalo Savings Bank
- Newton Federal Bank
- NorthShore Credit Union
- NRLFCU
- Nutmeng State Financial Credit Union
- NYCB Family Of Banks
- Old Missouri Bank
- Old Second Bank
- One American Bank
- Pacific Service Credit Union
- Parkside Credit Union
- Patelco Credit Union
- Pathways Financial Credit Union
- PeoplesBank
- Peoples United Bank
- Polam Federal Credit Union
- Popular Bank
- Ridgewood Savings Bank
- Salem Five Bank
- Scient Federal Credit Union
- Security Service Federal Credit Union
- SENB Bank
- Solvay Bank
- Sound Community Bank
- Space Coast Credit Union
- Stoneham Bank
- Talmer Bank & Trust
- Texell Credit Union
- TDECU
- TIAA Direct
- Town Bank
- Town and Country Bank
- Traditional Bank
- TruStone Financial
- Union Bank
- Union Plus Prepaid
- Unity Bank
- Univest
- Webster Bank
- Whitney Bank
- Valley National Bank
 The Chase Sapphire Preferred® Card offers 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. You'll earn: • 5x on travel purchased through Chase TravelSM • 3x on dining, select streaming services and online groceries • 2x on all other travel purchases • 1x on all other purchases • $50 Annual Chase Travel Hotel Credit • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027. Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase TravelSM This card carries a $95 annual fee. |
Does anyone know a decent Credit Card loader from visa server
Please advise
Best Regards
how about updating,please
I like SoFi. I get 2% back plus some points. I have no idea what the points are worth
Arizona State Credit Union has a $500 max on credit card funding
Provident Credit Union now limits credit card funding to $30.00
And what card did you use to fund Elevations Credit Union? I would like to use Chase Hyatt to fund and wondering what are they coded as? thanks.
Hi, what credit card did you use to fund GESA account? And did it code as CA or purchase?
Elevations Credit Union is limited to $2500. I applied yesterday.
GESA Credit Union (in Washington state, limited to WA and OR) is one I just found and allows a total of $5000 funding by credit card between checking and savings. I just applied and will find out if it is cash advance or not.
Chase Freedom Unlimited – $25 cash advance fee funding Santander Bank.
I was charged a cash advance fee when funding my Bank of the West account with my Capital One Venture card.
FYI I just got hit with a “Cash Equivalent Fee” when I funded a Bank of the West account with a Fidelity Visa.
Can I use a visa gift card to fund a bank account?
Did they charge a fee ?
I have the cash credit limit set to $200 on my BofA Premium Rewards card. That way if it is coded as a cash advance rather than a purchase, it will be declined. I assume Citi offers the same option, just call CS.
Funded a new TD Bank acct with $1000 from my Fidelity Visa (Elan) and it went through as a Purchase, with MCC of “FINANCIAL INSTITUTION – MERCHANDISE AND SERVICES”
Updated. Thanks for the datapoint!
SunTrust now limits online funding to $250. Also my Citi Dividend MC card got charged a cash advance fee!
FYI, TD Bank now allows credit/debit funding up to $1,000 (at least for the Premier checking account, cannot not confirm if the amount varies by account type)
Also, Chase seems to have changed their credit/debit system. They still allow up to $500, however indicate they only take “visa and mastercard debit and prepaid cards”. Their system seems to be able to determine between the two. My transaction would not process with my Fidelity Visa (Elan), US Bank Cash+ Visa, Cap1 Quicksilver Visa, Citi Dividend MC, or Barclaycard Rewards MC. The transaction however instantly processed with my Ally Bank MC debit card. Also, they ONLY accept debit for account funding (no option to do ACH opening deposit).
Which bank Credit Card do you use for the payment ? I will like to open one too.
was able to fund PNC for $2k today with CSR, posted as purchase, got 2000 points
Oceans first is now only $100 cc funding
Elevations is 10,000 but I was denied membership good luck
I was looking to open a new PNC account. Can I use Cr. card funding in branch or do I have to do it online?
How’d you create the account? Online?
Umpqua Bank let me charge $2000 on my Citi Double Cash Mastercard to fund the account. Showed up as a purchase with Citibank. Add Umpqua to the list.
Hi James, we received the source from one of our readers last year: https://www.hustlermoneyblog.com/bbva-compass-nba-checking-review/#comment-169862
I guess that’s no longer the case. Thanks for letting us know!
Regarding BBVA Compass and Capital One Cashback/Quicksilver, I called both institutions and they said it would process as a cash advance. What is your information source that it goes through as a purchase and not a cash advance? Surely it is too good to be true to do a $5000 purchase and get an associated $75 in cash rewards?
I just opened a HarborOne account with the BOA MLB card and the transaction coded as “ATM Cash Advances or Bank Transaction” which I thought meant this didn’t count toward my required spending but in the details of the transaction I can see “Base $5” and “Bonus $150” so I guess it did. Will I be charged a cash advance fee for this transaction?
Radius Bank now says its checking accounts can only be funded with Bank Account or Debit Card. Looks like credit card funding may be dead.
The bank decides and they inform the credit card company.
Wells Fargo Cashwise Visa counts as a purchase when opening a checking account or Virutal Wallet w/ PNC bank. The limit is $2000 for either or both. MC & Visa only.
just signed up for Star One checking and savings accounts using Barclay Rewards CC. I called Barclays before to set cash advance limit to $1. barclay says once cash advance limit is lowered it can NEVER be changed again. fine for me since i don’t want to incur extra fees using cash advance on a CC. thanks for writing about using CC to fund a new savings/checking account. this is a great trick! i can get points/rewards for moving money into a savings/checking account. THANK YOU!
Arizona State Credit Union deposits count as purchases. They actually have a FAQ page that specifically mentions opening deposits count as a purchase.
Who determines if it is a purchase or cash advance, the bank or the credit card issuer?
Thanks for letting us know. We try to squeeze in a lot of info. Unfortunately, it looks like that in Chrome. However you should still be able to click on the Review.
Hi Anthony. This is a great list and we all appreciate you putting it together! Unfortunately, the banners on the right seem to be blocking part of the table (at least for me using Chrome). Can you take a look? Maybe it’s just me…
Attempted to fund First Merit account via Sapphire Prefferes and was informed that it will only go through as a cash transfer.
Did you apply online or at a branch? And this can be a general question: does applying for a bank account and funding it with a credit card count as Cash Advance always or it may still count as a Purchase?
Attempted to fund BBVA Compass online using CSP. Funding amount was $3,000. An hour or so later I was informed that they could not process the transaction.
May 1, 2016 – used Chase Sapphire Preferred to fund new First Merit acct – Chase applied the 5K as a CASH ADVANCE not purchase
Thanks Ken. It’s now updated.
The first Review link for 1st Mariner leads to a different bank. Please fix.
Do you have to fund Elevations Credit Union in branch? Membership is easy with a one time donation.
Thanks TomT. This has been updated.
Unfortunately, Citi just changed their policy to no longer allow credit card funding for new accounts effective today, 2/9/2016. I was told this by the rep five minutes ago.
I believe I updated on the hard pull. But I have the cash advance now showing for BBVA with the credit cards you mentioned.
Despite your comment indicating that the table was updated, BBVA Compass still shows as credit card fundable in the Purchase column. The BBVA new account rep I spoke with confirmed that they switched their funding from purchase to cash advance in early December. I contacted them after I had tried 3 different cards at the end of Decmber, and all were charged as a cash advance when those same cards had worked as a purchase in August. I suggest you update BBVA to indicate that funding is via Cash Advance only now.
Thanks TomT. It has been updated.
I can confirm that credit card funding of a new BBVA Compass checking account was rejected from my normally usable BofA Alaska, Barclay Priceline and Chase Hyatt cards, each of which had their cash advance limit set to $0 or whatever minimum was allowed. Each credit card company said the transaction was denied because it was over my cash advance limit and was submitted as a cash advance vs. a retail purchase by BBVA Compass. So, the $5,000 credit card funding from this bank is useless. Opening a new account also resulted in a hard pull that appears on my TransUnion credit inquiries as being from “Compass Bank”.
Thanks TomT. We have updated the table.
The GTE Financial (GTE Federal Credit Union) credit card funding limit is incorrect. While you can transfer $5,000 from another financial institution, credit card funding is limited to $215. The exact verbiage on a new application states: “CREDIT CARD / DEBIT CARD (MAXIMUM AMOUNT ALLOWED: $215.00)”