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#2293328 - 02/07/24 06:09 PM Debit Card Loan Payments
Comply Central Offline
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Can loan payments be made with advances from a Mastercard Debit Card? I see where there are restrictions on credit card advances for loan payments, but I was not sure if that applied to debit cards as well.

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eBanking / Technology
#2293329 - 02/07/24 06:21 PM Re: Debit Card Loan Payments Comply Central
BrianC Offline
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#2293376 - 02/08/24 04:45 PM Re: Debit Card Loan Payments Comply Central
Comply Central Offline
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Do you know of anything that prohibits someone that is not on the loan from making a payment with their credit/debit card?

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#2293381 - 02/08/24 05:19 PM Re: Debit Card Loan Payments Comply Central
rlcarey Offline
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Not sure why it would be prohibited if otherwise allowed by the related post that Brian linked.

Not sure why a bank would allow it. If the person wants to give the borrower money, have them do a cash advance and hand the borrower the cash and have the borrower make the payment. I am not sure why the lender would want to get into the middle of this if a dispute breaks out.
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#2293388 - 02/08/24 06:06 PM Re: Debit Card Loan Payments rlcarey
Comply Central Offline
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Normally it is the borrower that calls and makes a payment with their debit/credit card, but occasionally we may have a spouse (not on the loan) call and make a payment for their spouse using their own credit/debit card or parents for their son/daughter. I was just asked if there was anything that prohibits this, and I couldn't find anything that addresses this.
Last edited by Comply Central; 02/08/24 06:07 PM.
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