Vaasu Annan
TF Select
A friend of mine owns a shop and he has a card swiping machine with him. What if I use my credit card and transfer the money from his account to mine? Will this work or is it illegal?
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Using Card Swiping Machine (POS) for cash.
- Thread starter Vaasu Annan
- Start date
- Replies 7
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Rohan
TF Premier
For one times it fine and below 10K. Need to pay MRD chargers and other tax if amount is high.
every transaction will incur him a fee of upto 2.5% in the form of mdr and gst if registered
Vaasu Annan
TF Select
That's fine. I know this is against the T&C's of the credit card but is this a crime?
how is it against the tncs ?
and no it is not a crime
ask yout friend for a paper invoice in case of safety.
but if you want to withdraw funds do it through paytm wallet loads which gives cashback equivalent to the surcharge born
and no it is not a crime
ask yout friend for a paper invoice in case of safety.
but if you want to withdraw funds do it through paytm wallet loads which gives cashback equivalent to the surcharge born
Vaasu Annan
TF Select
Since no actual purchase of goods and services takes place, I thought it was against the T&Cs.
Cebu
TF Premier
Well companies don't know if you have purchased a actual product or not.. It does not matter honestly. Earlier, I used these techniques to rotate 5 Lakh+ in a month. No issues so far.
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