ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315 
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Post by ilmoro on May 6, 2022 10:18:13 GMT
I made a Chase debit card deposit to Seedrs, but alas no cashback.
I don't know how common this scenario is but there is obviously something about Kuflink which makes it look like a purchase, doesn't surprise me in a nice way. If I transfer 50k into Kuflink and withdraw it again then I make £500, nope. I wouldn't be surprised if the cashback is reclaimed. In schemes like this can you buy something and then return it for a refund and keep the cashback, surely not, open invitation to criminals!
I've never been interested in cards that offer incentives to spend, I've never been interested in having more than 2 good cards, 1 debit and 1 credit. The best way to save money is not to buy  that will never get used. I read it somewhere on MSE's 100 ways to save money, one of the easiest to implement. These type of purchases probably dwarf your cashback!
I did open a chase account for the temporary savings interest. Debit cards should be optional not forced on you but that pays for the savings interest so pointless complaining.
If you took a product back then the transaction would be defacto reversed through the card as most retailers refund via original payment. Its a plus & minus so zero spending so no cashback. In the Kuflink situation the card provider has no knowledge the funds have been repaid as it gone via a different means and Kuflink cant tell them even if they know. I guess its how you view it, incentives to spend or rewards for using a particular provider to do something you already do. Im not buying more food just because Easymoney gives me discounts on grocery providers etc, (Double bubble as I get CC cashback as well) and certainly havent started drinking coffee just because I get 8% discount. Comes down to financial education and common sense. Debit card is optional, you have scissors 
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Post by Ace on May 11, 2022 14:04:25 GMT
I've updated the first post to add the list of platforms that we've tried where Chase doesn't give cashback.
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tallsuk
Member of DD Central
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Post by tallsuk on May 11, 2022 16:18:57 GMT
I've updated the first post to add the list of platforms that we've tried where Chase doesn't give cashback. You can add AC, Proplend, AJ Bell and ShareIn to the list that dont. Worth a try though.
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Post by df on May 11, 2022 21:32:48 GMT
If anyone knows of P2P platforms where deposits from a Chase debit card earns cashback please post below and I'll update the list in this OP. The list of platforms where chase does give cashbackKuflink The list of platforms where chase does not give cashbackSeedrs Wisealpha CrowdStackers Assetz Capital Proplend AJ Bell ShareIn Don't know about the rest from "does not" list, but AC doesn't accept card payments. Sharein don't seem to have this facility either - just assuming because Q doesn't.
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Post by Ace on May 11, 2022 21:41:14 GMT
If anyone knows of P2P platforms where deposits from a Chase debit card earns cashback please post below and I'll update the list in this OP. The list of platforms where chase does give cashbackKuflink The list of platforms where chase does not give cashbackSeedrs Wisealpha CrowdStackers Assetz Capital Proplend AJ Bell ShareIn Don't know about the rest from "does not" list, but AC doesn't accept card payments. Sharein don't seem to have this facility either - just assuming because Q doesn't. I was going from the info from the post above. Tagging tallsuk for comment.
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tallsuk
Member of DD Central
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Post by tallsuk on May 11, 2022 21:57:42 GMT
Very good point, I sent funds from my chase account and that explains exactly why the cashback was not registered. Getting mixed up between using the app and the card itself.
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eeyore
Member of DD Central
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Post by eeyore on May 12, 2022 9:02:05 GMT
If anyone knows of P2P platforms where deposits from a Chase debit card earns cashback please post below and I'll update the list in this OP. The list of platforms where chase does give cashbackKuflink The list of platforms where chase does not give cashbackSeedrs Wisealpha CrowdStackers Assetz Capital Proplend AJ Bell ShareIn Don't know about the rest from "does not" list, but AC doesn't accept card payments. Sharein don't seem to have this facility either - just assuming because Q doesn't. Nor does Proplend! Only way of depositing funds at Proplend is via bank transfer, so no debit cards allowed from Chase or anywhere else... Ablrate offer debit card deposits but I haven't invested new funds there for some time.
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benaj
Member of DD Central
N/A
Posts: 5,591
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Post by benaj on May 12, 2022 9:55:10 GMT
Lendinvest will take “deposit” with Chase debit card, but it is not money well “spent” and therefore no “rewards”.
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Post by Ace on May 19, 2022 6:49:04 GMT
I can confirm that I was awarded cashback when depositing via Chase card to ABLrate.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on May 19, 2022 7:06:41 GMT
I can confirm that I was awarded cashback when depositing via Chase card to ABLrate. Can you now withdraw that without investing it?
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Post by Ace on May 19, 2022 7:10:19 GMT
I can confirm that I was awarded cashback when depositing via Chase card to ABLrate. Can you now withdraw that without investing it? There's nothing to stop me doing that, but I have no idea what red flags it would raise with either organisation. Others have reported AML triggers when doing that on Kuflink.
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Post by drphil on May 28, 2022 10:20:11 GMT
Just had a 40% overpayment to Kuflink returned to me. I was invited, though not mandated, to explain the withdrawal and had to provide a copy of bank 'statement' (screenshot of transactions) for AML purposes. The funds were returned to Chase, rather than my linked account, so I await to see whether that portion of the cashback will be clawed back.
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Post by Badly Drawn Stickman on May 28, 2022 13:03:29 GMT
Does suggest this kind of thread on the 'open forum' which platforms may just notice is a borderline plan.
I don't think it is possible to generate statements on Chase currently (having tried and asked them). Next one due on 2nd of next month.
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benaj
Member of DD Central
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Posts: 5,591
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Post by benaj on May 28, 2022 13:21:52 GMT
Before Covid amd Chase, I enjoyed topping up RS with a “debit card” because of the reward “linked” to a third party. RS was the only one offering benefit of “debit card” top up.
Until the “third party” realised the business model didn’t generate profit and had to cancel finance facility for my “spending”.
Luckily, I kept the reward before I ended the relationship with the “third party”
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that will never get used. I read it somewhere on MSE's 100 ways to save money, one of the easiest to implement. These type of purchases probably dwarf your cashback!
