Earlier this month, there was panic about Serve apparently charging cash advance fees for online credit card loads. It turned out to be a false alarm. See: Serve is safe.
Now, though, there is some evidence that US Bank is charging cash advance fees. Here are recent reader comments:
Just an FYI – I am new to all this so I might be missing something, but I used my and my boyfriend’s Club Carlson cards (USBank) to load $1000 each in the last 2 weeks on our individual Serve accounts. Showed up as normal purchase both in pending and when actually posted, but when statement came out on each card there was a $10 “cash equivalent fee”. This equates to a 1% fee on money transferred to serve.
I just got the same $10 fee on my club carlson card. Will call to ask about it.
So I just called. The woman ( who knew exactly what Serve was ) told me it must have been a glitch in the system that my Serve loads were coming up as purchases and that I got lucky up until my last one. Held firm they were advances and not purchases. Looks like i’ll be staying away from that card for a while when it comes to loading serve.
Serve is NO LONGER SAFE at least at US Bank as of October 9!! Loaded $200 to Serve with Club Carlson Visa on 10/3 – posted as purchase on 10/6. Loaded $300 to Serve with Club Carlson Visa on 10/9 – posted as CASH ADVANCE on 10/10- $12 CA fee and no reward points! Also, the MCC codes were different, 7278 on the first one, 6051 on the second!
So, unless this is an elaborate prank, I’d recommend against using US Bank credit cards to load Serve online.