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Rewards for ACH transactions (self.personalfinance)

submitted 6 days ago* (last edited 6 days ago) by root to c/[email protected]

12 comments fedilink hide all child comments

Between rent and school payments, I am paying quite a lot over ACH and am wondering if there’s any way to also get some benefits back from these payments.

There are cards out there like the “Fold” card that will give back up to 1.5% in BTC for ACH transactions, but that’s contingent on you spending a lot on other transactions and the card also has a $100 annual fee.

I don’t care if the rewards are USD, BTC or booster packs of Pokémon cards. I’d just like something back from these transactions.

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[–] [email protected] 1 points 6 days ago (1 children)

We pay many bills via credit cards, which we then pay in full every month. The credit cards offer something like 2% cash back that can be applied to pay down the balance of the card at some point in the future.

It's not much, but it's essentially giving us a 2% break on the bill. Of course if you carry a balance, the interest will far outweigh any gain. So you have to be disciplined and careful. The cards we have do not have an annual fee, either.

The card company still does it even without charging us interest because they make money on the transaction - they charge the vendor a fee.

[–] root 2 points 5 days ago

Exactly what I do as well. Unfortunately some things like tuition and rent only accept ACH :/