HOW TO LOAN YOUSELF MONEY IN MINUTES WITH THIS TRICK!
Summary
This video demonstrates a method to 'loan' yourself money, even with poor credit, by utilizing the Square and Affirm apps. The process involves creating a virtual card through Affirm for a desired loan amount, then using this virtual card to process a manual payment through the Square app. The funds are then transferred to your bank account, either instantly via debit card or the next day. Referral links are provided for both apps, offering potential benefits like waived transaction fees on Square and a signup bonus on Affirm. The entire process is claimed to take under 20 minutes.
Sections
Introduction & Concept
Learn how to loan yourself money using Square and Affirm apps.
The video introduces a method for individuals needing emergency cash or bridging gaps between paydays, especially those with poor credit unable to secure traditional loans. The technique essentially allows users to loan themselves money, with amounts potentially up to $5,000, using a combination of the Square and Affirm applications.
Square app facilitates manual credit card charges for funds transfer.
The Square app is presented as a tool that allows manual input of credit card details to process a charge. The received funds can then be transferred to a user's bank account via a debit card for immediate access or through routing numbers for next-day transfer.
Affirm app provides a virtual card for the loan process.
The Affirm app is central to obtaining the funds. Upon signing up, Affirm performs a soft credit check and offers a loan amount, with a minimum of $500 generally available. New users might have limited initial amounts. The process aims to put cash into the user's account within 30 minutes.
Referral Links & Benefits
Referral links offer transaction fee waivers and signup bonuses.
The presenter offers two referral links in the video description. Signing up for Square via the referral link can provide up to $1,000 in no transaction fees, meaning no fees are charged on loans processed through Square. Using the Affirm referral link can grant a $30 bonus upon signing up.
Example loan: $860 loan from Affirm incurs fees for instant transfer.
An example is given where a user is approved for $860 on Affirm. Processing this through Square incurs transaction fees of approximately 2.5%. An instant transfer to the bank account results in approximately $817 received after fees are deducted.
Step-by-Step Guide: Square App Setup
Download, create, and set up a Square account.
Users need to download the Square app from the App Store or Play Store, create an account using an email address and password, select their country, and confirm their email. They then follow prompts, choosing 'Business or Individual' (Business is recommended for this tactic), and select 'Take a payment in person' with manual entry.
Verify identity and add a debit card for instant transfers in Square.
During Square setup, users must verify their identity by providing legal name, phone number, and home address. After account setup, navigate to settings to add a debit card, which is necessary for enabling instant fund transfers after a transaction.
Step-by-Step Guide: Affirm App & Virtual Card Creation
Use Affirm to create a one-time virtual card for the loan amount.
After setting up Square, open the Affirm app. Search for the business name created in Square; it likely won't appear. Scroll to the bottom and select 'Create a one-time use virtual card'. Enter the approved loan amount (e.g., $860).
Select a payment plan and confirm card creation in Affirm.
Review the terms and choose a payment plan that suits the user, noting the first payment date is typically 30 days out. Interest rates and total costs are displayed. Select a plan (e.g., a six-month plan), confirm the payment details, and then create the virtual card.
Copy the virtual card details for use in Square.
Once the Affirm virtual card is created, copy the card number. This card will be used as the payment method within the Square app to charge the loan amount.
Executing the Loan Transaction
Manually charge the Affirm virtual card in the Square app.
Return to the Square app. Input the loan amount (e.g., $860) and select manual payment entry. Paste the copied Affirm virtual card number, enter its expiration date, and the zip code, then click 'Charge'. This action transfers the loan amount into your Square account.
Perform an instant transfer from Square to your bank account.
After the charge is successful and the funds are in the Square account (which may require logging out and back in), initiate an 'instant transfer' to your linked bank account via your debit card. The transferred amount reflects the loan minus applicable fees (e.g., $817 from $860).
Funds are available for immediate withdrawal.
The entire process, from starting the setup to having usable funds in the bank account, is claimed to take approximately 10-15 minutes. The money transferred via instant transfer is immediately available for withdrawal.
Conclusion & Call to Action
Video concludes with encouragement to like, subscribe, and share.
The presenter concludes the video by encouraging viewers to like and subscribe for more content. They also suggest sharing the video with anyone who might need assistance with loans or money management and invite questions in the comments section.
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