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  • FIRST POST
    Woodcote52
    Cash Advance Fee on CREDIT CARD
    • #1
    • 15th Jul 12, 9:25 AM
    Cash Advance Fee on CREDIT CARD 15th Jul 12 at 9:25 AM
    Im going abroad for the first time and researched the best way of buying euros. I bought euros on line with my HSBC Mastercard. Days later I learnt from my card statement that Id been charged a cash advance fee by Mastercard. Wasn't expecting this!

    I knew using a card abroad to withdraw cash incurred a charge. I wasnt aware that I would be charged in my own country for purchasing euros with a card.


    Logic tells me youll get stung with a cash advance fee even if you physically purchase currency over the counter with a card in the UK.

    To avoid a cash advance fee you would have to withdraw pounds from your bank (from the counter or through an ATM) and then physically carry a fortune in cash to a bureau de change!

    I knew DEBIT card companies charged a cash advance fee for foreign currency purchases. But is it normal for CREDIT card companies (Mastercard in this case) to charge a cash advance fee?
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