Paying off cash withdrawal before statement

keletkezes
keletkezes Posts: 33 Forumite
First Post First Anniversary Combo Breaker
in Credit cards
Hi everyone, I've bought some travel money which has come out of my card as a cash withdrawal :S To stop me accruing daily interest on this, do I just have to pay the cash itself off or the whole amount on the card? Thankyou!

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    If your card allocates payments to statemented balances first, as most do, you would need to clear the full amount.
  • J_B
    J_B Posts: 6,432 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Deleted_User wrote: »
    If your card allocates payments to statemented balances first, as most do, you would need to clear the full amount.

    not sure on exact car and T&C's but last year, I used my Nationwide Gold Visa card (no longer available to new customers) to withdraw cash at an ATM - I realised the next day of my error, so phone N/W and explained and I paid off just the amount that I had withdrawn plus a bit extra for 'cash advance fee' and a bit more extra for luck.

    No further charges were applied.
  • destroycarthage
    destroycarthage Posts: 19 Forumite
    Definitely pay off the entire balance.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    Combo Breaker First Post Newshound!
    You need to pay the full balance of the previous statement plus the amount of the cash withdrawal. You do not need to pay off any unstatemented purchases made since your last statement.
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    J_B wrote: »
    not sure on exact car and T&C's but last year, I used my Nationwide Gold Visa card (no longer available to new customers) to withdraw cash at an ATM - I realised the next day of my error, so phone N/W and explained and I paid off just the amount that I had withdrawn plus a bit extra for 'cash advance fee' and a bit more extra for luck.

    No further charges were applied.

    If you pay it off after the transaction but before it debits the account then you've not have actually borrowed anything.

    This is common practice with Clarity (and clones) but with non-Sterling withdrawals, it's harder to be precise.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards