LPT: If you have minimum monthly debit transaction requirements with your bank, you can send 1-cent transactions to someone via Facebook.

Other

My bank requires me to use my debit card 10 times per month. Since I put most of my spending on credit cards, I have been reloading my Amazon gift card balance 10 times @ their minimum 50-cent per reload every month.

Anyways, today I was chatting with a friend over Facebook (web browser) and noticed a "$". So I clicked it and sent him 1-cent. Checked my bank account, and it went through as a single debit transaction. Now I can just spend 10-cents per month rather than $5.00 per month to meet my bank's requirement.

Now, me and my girlfriend can just take turns sending each other 10-cents a month.

SOURCE: https://www.facebook.com/help/863171203733904

EDIT: seems like this feature is not rolled out to everyone yet.

EDIT: and if anyone is wondering, my checking account has a higher interest rate and free ATM fee reimbursements if I meet the debit requirements.

Posted Jun 24, 2015, 11:20 PM UTC

06
keevenowski•

What bank do you use? I've never heard of this before.

1
loganzOP•

Just a local credit union.

1
PFIsMyFavoriteSub•

what interest rate are they giving you for this account?

1
loganzOP•

it was 1.9 when I opened my account but has dropped to 1.5 currently. Still an extra $10 a month is nice.

1
INGSOCtheGREAT•

I would imagine Facebook will shut this down by imposing minimums sooner rather than later.

1
loganzOP•

This is probably true. But for now, 1-cents for everyone.

1