Credit Cards

[Stingo]

Let's say for example, that a friend of mine has a regular income (paid to him in good condition, folding Lizzies earned in a foreign country) and that he wants to go sailing. He also possesses a Visa credit card (issued in Blighty) which he intends to use every time he sets off on a evenings sortie of drinking and eating or even to pay his marina bills and swindelry extravagances . Will his trusted business partner be able to deposit the folding stuff into his UK Visa card account from a foreign bank?

 

[FullCircle]

Provided you have the Sort Code and use his card number a s abank payment reference, dont see why not by Internet transfer, thats what I do with errant son at Uni.
Make it too regular from Johnny Foreign land and HMRC might get interested for money laundering.

 

[capnsensible]

Once you have a credit card, the world is yer lobster. As long as the minimum is serviced each month, your pal will never be chased. He or she can do it all on tinternet for nothing, from anywhere, anytime. Long time user, long time minimum payer!

 

[capnsensible]

Read again, disregard internet, answer is yes, cash in to a bank will give the desired. Anywhere. Done it!! Um do it....

 

[boguing]

The card provider will ALWAYS accept money - from any source.

My experience is that it can be awfully difficult to spend it.

Egg card. Greece 2002 and 3. Every time I used it they'd say no. Never got the chance to talk to them instore. I'd have to find a 'phone and reassure them that I was who I was, and on holiday in Greece. Over and over.

2004. Thought I'd preempt the above. Rang and told them I'd be in Greece, could they please spare the Spanish Inquisition? "Of course Sir".

Did they feck. Put the card in an atm/shop. No.

Good luck. (Cash is King).

 

[raquet]

Others answers seem to refer to paying into a UK bank but I believe your question was could the cash be paid into a non-UK bank and credited to the card company.

I believe the answer is no. What you are talking about requires an international transfer. Generally such transfers are between correspondent banks – in this case to credit a third party. This is one of the message types within the SWIFT international payment instructions system and is easily accomplished but I still think you would have a problem with the cash side.

I suspect that you will either need to have a sterling bank account with a bank in the foreign country (if that is allowed in the country in question) or the cash will need to be changed into local currency first. Some countries have rules about the cash amounts which can be converted. In France I have been told that cash amounts over a modest limit cannot be exchanged for cash but the proceeds of the exchange must be deposited into a French account. You could, of course, have a local currency account in the foreign country, deposit the cash – converting it into local currency – and then make a transfer to the UK card – which means another exchange back into sterling – so there would be two exchanges and one international transfer all paid for by you.
I don’t think the idea of Internet transfers works. I have not been able to find any bank which offers international transfers/payments by Internet either to or from the UK. I think City bank can do it but you need a City account at both ends and a balance in tens of thousands of Euros before they are interested in you as a customer. If there are any such services I have yet to find them and would be a very happy bunny if somebody pointed me at one.

Sorry about length post but it is a complicated subject.

 

[rogerthebodger]

[ QUOTE ]
Will his trusted business partner be able to deposit the folding stuff into his UK Visa card account from a foreign bank?

[/ QUOTE ]

No. You will (sorry he will) have to pay the cash into the foreign bank and then arrange an international transfer or draft to bey into the UK bank to pay CC.

I do this with my UK pension and used to do this with my retirement investments in the UK.

Beat is to setup offshore bank in BWI or simular and get CC from them.

Have a look here and here

 

[stevecray]

Not sure if this would work in your situation, but about 10 years back a friend of mine working in Japan for quite a few months used to receive expense money in cash (Japanese Yen), but used his credit card for most of his paying (safer than carrying around all the folding stuff). He would then buy Stirling Travellers Cheques at a local Japanese bank (which was actually a better exchange rate than buying Stirling cash) and post these with a paying-in slip to his telephone bank in the UK. The UK bank would treat these as a cash credit to his account (i.e. no charges) and he could then pay his credit card bill by phone or PC banking.

 

[Stingo]

Travellor's cheques has also been suggested by PM and is getting close to a practical answer. I just need to find someone in the UK that I trust and that I can post them to and who will deposit them for me.

 

[Rum_Pirate]

[ QUOTE ]
Travellor's cheques has also been suggested by PM and is getting close to a practical answer. I just need to find someone in the UK that I trust and that I can post them to and who will deposit them for me.

[/ QUOTE ] Surely you can post (regestered mail) Travellor's cheques direct to a credit card company for payment without having to send them to a third party?

 

[BrendanS]

problem with that is if Travellers cheques go missing enroute. If presigned? Orgisations are normally only willing to accept travellers cheques which are countersigned on the spot, as that is one of the terms of their use.

 

[Rum_Pirate]

[ QUOTE ]
problem with that is if Travellers cheques go missing enroute. If presigned? Orgisations are normally only willing to accept travellers cheques which are countersigned on the spot, as that is one of the terms of their use.

[/ QUOTE ] Alternatively you can purchase International Money Orders.