Accounting

Has anyone used the “Venmo trick” to extract the value of an Encore? If so, did you do it for the full amount or the full amount/1.03 due to the 3% fee? Curious if it would go through @ full value

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The amount of effort to go through to have the cash isn’t worth the opportunity cost considering your going to use the $$ at some point. If your worries about losing a card, you don’t take care of your $$ to start, if we’re being honest here. Baffles me when people say “I lost my card” apparently it didn’t matter that much, almost like “dude where’s my car” movie , smh

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Wow...are you not someone’s valentine today? You sound salty af

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The Amex card always wind up with a few bucks left on them that you don’t use and gets left to expire. But noted, no one has tried it for the full amount

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I used to do that but last time I tried, it stopped working on Venmo. I did full amount/1.03. Good way to liquidate the cash and apply it to other costs like rent or paying my credit card

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If you set up a square account you can redeem the full value of the encore as a vendor receiving payment. An MD in my office did it, but FYI they caught him eventually and Square blacklisted him

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To clarify- get the Amex gift card (the only thing worth getting) and then link to Venmo and Venmo a close friend and have them Venmo you back. Since it’s a "credit card” technically a 3% fee applies but didn’t know if anyone has tried doing the full amount vs full/1.03

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For anyone that doesn’t know an Encore is KPMGs real time recognition where when you crush a job you get an “Encore” where you can choose a $500 Amex. But like what’s the point of switching it to Venmo.... it’s an Amex card.

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It’s takes literally 3 seconds......

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I tried to do it with PayPal but the fee wasn’t worth it, never thought of doing it with Venmo. I’ll do it next time!

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