Payboo
Jan 7, 2020 17:57:52 #
I have been saving my change for a large purchase at B&H so I got myself all signed up with Payboo in order to save on the taxes. It was fairly easy to get everything in order however, I had to call Payboo several times because my card never showed up. It took about three weeks before I had it in hand.
Well, over the weekend, I decided to order a few items and used the Payboo card for the purchase, it would have saved me $12 in taxes.
So today, I checked my payboo account and it has my balance posted and I try to pay off the balance with my credit card (VISA). They won't accept credit cards....they want my checking account number, routing number and all that.
I don't want to set up another checking account just to pay off Payboo balances so, I called B&H and as usual, they took care of the problem. I paid with my VISA and cancelled the order through Payboo.
Maybe I was supposed to know that you can't pay off one credit card with another but, I do now.
Just so you know.
Well, over the weekend, I decided to order a few items and used the Payboo card for the purchase, it would have saved me $12 in taxes.
So today, I checked my payboo account and it has my balance posted and I try to pay off the balance with my credit card (VISA). They won't accept credit cards....they want my checking account number, routing number and all that.
I don't want to set up another checking account just to pay off Payboo balances so, I called B&H and as usual, they took care of the problem. I paid with my VISA and cancelled the order through Payboo.
Maybe I was supposed to know that you can't pay off one credit card with another but, I do now.
Just so you know.
Jan 7, 2020 18:32:47 #
alx
Loc: NJ
You can always pay your payboo account directly THROUGH YOUR BANK without giving Payboo (Synchrony Bank) your banking info. Personally, I don't give my banking data to any CC company or other vendor.
Jan 7, 2020 18:44:47 #
Jan 7, 2020 18:46:11 #
ralf
Loc: NJ
I have been using Payboo since mid-2019 when it was first announced. I have saved many, many pesos in sales tax -- I bought a D850 and some lenses, and other high ticket items as gifts. Whenever B&H asks me what I like best about shopping at B&H, my answer consists of one word 6 letters long ending in "oo".
I let Payboo link to by bank account and I have not had any problems. It's not like they are going to steal your money (at least not yet).
I should point out that prior to this, I set up a separate savings account just for camera purchases, and this is the account linked to Payboo. Setting up the special account just for saving for camera purchases was a really good idea. It isolates your camera money and you easily know what you have to spend and how much additional savings you need for the next item. It encourages you to save. Best idea I've had in 10 years.
I let Payboo link to by bank account and I have not had any problems. It's not like they are going to steal your money (at least not yet).
I should point out that prior to this, I set up a separate savings account just for camera purchases, and this is the account linked to Payboo. Setting up the special account just for saving for camera purchases was a really good idea. It isolates your camera money and you easily know what you have to spend and how much additional savings you need for the next item. It encourages you to save. Best idea I've had in 10 years.
Jan 8, 2020 05:28:50 #
How does Payboo keep you from paying taxes (assuming sales tax)? I would think the seller (Being in the states) would have to charge tax no matter what.
Jan 8, 2020 06:58:57 #
Lens Cap wrote:
How does Payboo keep you from paying taxes (assuming sales tax)? I would think the seller (Being in the states) would have to charge tax no matter what.
when using payboo B&H gives you back the tax when you order it states no tax they pay it
Jan 8, 2020 08:34:18 #
Jan 8, 2020 08:50:40 #
I had trouble getting my Payboo credit card too. I used it to purchase my D850 to get it 'tax free'. I made a couple of calls and the problem was resolved. The original card was missing the street address. I requested that card be cancelled; which is was. They issued me a new card and number that was immediately sent out to me. I set the account up with auto pay using my checking account. The bill was paid on time, no sales tax, and without any interest. So far, I'm happy with it.
Jan 8, 2020 08:56:51 #
Jan 8, 2020 10:16:21 #
Is it just B&H or all internet purchases?
legion3 wrote:
when using payboo B&H gives you back the tax when you order it states no tax they pay it
Jan 8, 2020 10:44:20 #
tradio wrote:
I have been saving my change for a large purchase ... (show quote)
Yes, it's been that way for a long time. 20 years ago or so you could get a credit card with a huge credit limit and then do a transfer from one credit card account to your new one with the huge limit. But I've never seen where you can actually pay one with the other like making a purchase. I got the Payboo CC too but will use it like a CC then as soon as the bill posts pay it off with my Bill Pay from my bank account. Saves the tax which in some cases can be huge like on a new camera body...
Jan 8, 2020 10:57:36 #
MichaelH
Loc: NorCal via Lansing, MI
tradio wrote:
I have been saving my change for a large purchase ... (show quote)
When you purchase something from a vendor using a credit card the vendor is charged a fee.
I believe the reason that this works for B&H is that B&H has arranged for lower fees from the Synchrony Bank for the Payboo card. It is not really a credit card as it can only be used at B&H. The downside for the Payboo user is that the interest rate is very high if you do not pay it off monthly.
You can always pay your bill by snail mail when it arrives. And another thing to realize is that the information that you need to give to Synchrony (your checking account number and routing number) in order to pay using your checking account online are written on every check you write so these are not "secret" numbers in any sense.
Here is a video of the up and downsides to the Payboo:
https://www.youtube.com/watch?v=JbIYBSuUrXw
Jan 8, 2020 11:38:37 #
tradio wrote:
I have been saving my change for a large purchase ... (show quote)
I bank with USAA. I set up payees with their own account and then USAA generates and mails a check on the date I specify. Nice if I am going out of town.
Jan 8, 2020 13:41:51 #
Vlemasters wrote:
I am sure you know but some others may not, the payboo card has a 30% interest rate!
The interest rate has no bearing if you pay the account off when you receive the bill. It is for this reason that I totally ignore offers to reduce my credit card interest by switching to a different card vendor.
Jan 8, 2020 14:25:57 #
clint f.
Loc: Priest Lake Idaho, Spokane Wa
B&H pays the tax when you use the card. It’s a “discount” of (insert sales tax in your location) %. Nearly all credit unions and banks hav a Bill Pay of some sort. If they charge a fee go to a different financial institution. You can set up recurring payments- car, loan, garbage service to automatically go out on the day of your choosing every month as an example. For variable amount bills, snow removal, dentist, credit card, etc. you choose the vendor, put in the amount, push the magic button....done. Of course you do initially set up the accounts with addresses and account numbers but even that only takes a minute as the information is on the face of the bill you are paying and once it’s done you never have to do it again. It takes longer for my computer to start up than it does to pay all my monthly bills. No postage, no envelopes, no checks. Now if I could figure a way to do something useful with all those envelopes they send with all the bills....
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