Cash Advance Fees for Accounts in Credit?

Eugene's_Pal

Hi Folks, Here's a hypothetical question for you...

If I put my Barclaycard in credit by say £500 would I still be liable for a cash advance fee if I withdraw £500 or less from an ATM or a credit card cheque?

bethanyrayne

Eugene's_Pal wrote: »

Hi Folks, Here's a hypothetical question for you...

If I put my Barclaycard in credit by say £500 would I still be liable for a cash advance fee if I withdraw £500 or less from an ATM or a credit card cheque?

Short answer, Yes!

Biggles

... but you wouldn't pay interest on the cash advance.

Steve1981

Biggles wrote: »

... but you wouldn't pay interest on the cash advance.

So there would be a fee for removing the cash but you wouldn't pay interest? What sort of fee are we talking?

So in theory you could BT from one card to another to put it in credit (paying the handling fee for the plesure) and then remove it from card 2 at the cash point and put the cash into a high interest account, without needing the Egg Money card or a SBT card?

Though I thought I had read in the Barclaycard T&C's that you can only take out a pre-agreed ammount of cash that is a percentage of you credit limit??

MarkyMarkD

If your account is inadvertently in credit, most card companies will issue a cheque without charge.

But the best way to do what you are describing is NOT to use Barclaycard, but an Egg account or MBNA account which explicitly allow transfers from your card account to your current account, and those transfers do not count as cash advances.

Steve1981

MarkyMarkD wrote: »

If your account is inadvertently in credit, most card companies will issue a cheque without charge.

But the best way to do what you are describing is NOT to use Barclaycard, but an Egg account or MBNA account which explicitly allow transfers from your card account to your current account, and those transfers do not count as cash advances.

Yes mate, I get that I was just looking to see if it was a means of getting it into the account without egg money or an MBNA card

MarkyMarkD

Well then, yes, by asking Barclaycard to issue you a cheque.

But they might not be happy to do so.