Doing a £300 ATM cash Machine withdrawal,What is the withdrawal fee? (Vanquis Credit card

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ardvo
ardvo Posts: 57 Forumite
edited 21 November 2019 at 5:11AM in Credit cards
If you are in America, with a uk Vanquis credit card,

and you are wanting to use the American Visa ATM machine at an American bank, to withdraw £300 cash out (which will be in US dollar paper notes/ bills as they call them)

then what will the fee be incurred on top of taking this £300 out?

There is a 3% cash withdrawal fee from taking cash out of an ATM, but this is a Visa ATM in USA America, so will there be any additional fee? conversion rate fee? any other fee?

Can you tell what the 'additional' fee would be in pounds please, which will be on the statement of the following month, as a result of this £300 cash withdrawal please.

would there be any additional hidden fees? which would pop up on the statement too?


I see this but still didn't know if there was a hidden sneaky fee involved.
https://www.vanquis.co.uk/existing-customers/using-your-vanquis-visa-card-abroad

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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Don’t do it.

    Especially with a subprime card such as Vanquis.

    There are no “hidden” fees.

    You’ll be charged interest at an astronomical rate as well.
  • MallyGirl
    MallyGirl Posts: 6,627 Senior Ambassador
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    and your credit history will show evidence of cash withdrawals on a CC which is not ideal
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  • PRAISETHESUN
    PRAISETHESUN Posts: 3,723 Forumite
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    All the relevant fees will be stated in your credit agreement - there will be none that are "sneaky". Contact Vanquis or have a look around their website for the terms applicable to your card.

    You'll get cash transaction fees, foreign transaction fees, interest due on the amount withdrawn starting immediately (and with a horrendous interest rate to go along with it) and it'll likely be reported as a cash advance on your credit files. Overall I would discourage you from doing this.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    If you are in America, need the cash and don't really have another option available perhaps this is the only solution.
    You will be charged a cash withdrawal fee, usually 3% and an overseas transaction fee of 2.99%. You will be charged interest from the date of withdrawal to the date of repayment.
    Nobody can assist regarding any fee that may be charged by the ATM operator as this would vary from ATM operator to ATM operator. You would have to check what fee would be charged (if any) at the ATM before proceeding with the transaction.
    If this is all OK go ahead.

    Don't worry too much about a cash withdrawal being reported on your credit files. This would only really become a negative when applying for credit in the future if seen as part of a minimum payment, frequent cash withdrawal, increasing balance, increasing debt scenario. As a one off it would have no effect.
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