Credit Card cash withdrawal charges

workingboy

I've been told some banks or outlet points do not charge for cash withdrawal on Credit Cards.

Is this correct, if not how do you find who charges what or are free if any.

Thanks

lisyloo

I've been told some banks or outlet points do not charge for cash withdrawal on Credit Cards.

No one will give you cash without charging.
You might have heard that they don't charge ATM fees, but no-one will lend you money for free.

izools

lisyloo wrote: »

No one will give you cash without charging.
You might have heard that they don't charge ATM fees, but no-one will lend you money for free.

That's right - the ATM doesn't charge the fee, but the card issuer will.

workingboy

ok

thanks for your replies

Stuart_W

My bank offer a card where there is no fee for ATM withdrawal (unless it's one of those evil convenience machines that add on a fee at the ATM) - you just have to pay interest from the date of the withdrawal to the date the balance is cleared - at 12.9% APR that makes a £100 withdrawal paid back 30 days later cost about £1 so a cheap way of a short-term loan, but not a free one.

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368023,CFSweb/Page/Bank-CreditCards?WT.svl=copy

I think a few providers offer something similar.

YorkshireBoy

The nearest you'll get to 'free' cash (for a reasonable period) is by buying Sterling travellers cheques from M&S on an M&S credit card during the 0% introductory period.

Just pay them into your current account*, and you'll enjoy 10 months interest free for a 1% fee.

Terms and conditions apply!


* Check with the bank they'll accept them first!

MacsReturns

I've found a way to get cash advances on my credit card without ATM fees or any interest from the credit card.

Simply find an establishment that will give you cash back whilst processing it as a sale. I know a pub where I can do that - if you're not sure, try with a debit card first and look at your receipt. If it doesn't show a cashback transaction, then bingo! :beer:

ETA: of course, you must pay off the card in full, yadda yadda...

knightstyle

Can someone please explain why in the cheap travel money page there is a table that shows the Nationwide credit card as Med whilst the Saga card is poor? It seems to me that the Saga card is better.

lisyloo

Simply find an establishment that will give you cash back whilst processing it as a sale.

This is agaisnt the terms of their contract.
Cashback (the money type not the rewards type) is given with debit cards and not with credit cards.
Of course there are some staff who might not be aware of this, but it's going to be difficult to find as they should not be doing it.

lisyloo

I think you are reading the coloured table wrong.

SAGA is mainly in yellow which is good.
You have to look at the colour not the posistion.

The legend at the bottom is showing the colours.
There is no left -> right scale as you seem to be inferring.

MacsReturns

lisyloo wrote: »

This is agaisnt the terms of their contract.
Cashback (the money type not the rewards type) is given with debit cards and not with credit cards.
Of course there are some staff who might not be aware of this, but it's going to be difficult to find as they should not be doing it.

Not my contract, not my problem, just sayin'