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Credit card withdrawal
Bramblekins
Posts: 5 Forumite
If I am in credit on my credit card, can I withdraw money without charge?
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Comments
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No. You would still pay any cash withdrawal fee.0
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I have a Halifax Clarity Card and have never been charged whilst in credit by Halifax.0
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Did you withdraw cash at a cash machine with your credit card and not incur any charges?stephenadarglas wrote: »I have a Halifax Clarity Card and have never been charged whilst in credit by Halifax."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
I have withdrawn money overseas with my Clarity card and don't believe there was any charge apart from the tiny spread on the exchange rate (I think about 0.2%). They are supposed to deduct interest charging sums from the balance first so there should be no interest. Most other cards you will get hit with a withdrawal fee and a 3% exchange spread.0
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You will find many credit cards forbid positive balances in the T&C for fear of money laundering. There is also a question mark over whether section 75 covers you when spending.
This article is very old but I think it all still applies
https://www.lovemoney.com/news/820/dont-let-this-happen-to-your-credit-card0 -
I think I will just withdraw some money and see what happens. Worst case scenario it will cost me £30
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If you give the credit card company a call, they can transfer the excess for you. I had to do that a couple of weeks ago.GOAL:- £400k in Savings by March 2026 SAVINGS: – £396,016 COMPLETE GOALS - Debt Free, Mortgage Free, £350k Savings Save 12k in 2026 #21 = £3064 / £25,0000
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Reaper - noted but my credit time was when they changed their T&C last year to take all the direct debit without taking into account extra payments. An effective double payment one month meant I was in credit for another couple of months. They seemed OK with it and nowadays the part payments I make are sized to just take the balance close to zero.0
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stephenadarglas wrote: »I have a Halifax Clarity Card and have never been charged whilst in credit by Halifax.
Yes, but Halifax Clarity is one of the exceptions to the rule, because it doesn't charge a fee for Cash Advances. The only other such card that I know of is Santander Zero.
Pretty much every other card on the market will charge a fee for a Cash transaction.0
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