Using your credit to withdraw cash is a service that is offered by many banks in India. You can withdraw cash up to a certain limit over the counter at a bank or via an ATM. Andhra Bank offers the service to its customers who possess a credit card that is offered by the bank.
Cash withdrawal limit is the amount of cash you can withdraw using a credit card. The Cash advance facility at 50% on the Card Limit is subject to an ATM daily cash withdrawal limit of a maximum of two transactions or Rs.20,000 per day. Cash withdrawal charges are 3% of the withdrawn amount (Minimum Rs.150).
You need to pay interest on availing the facility of cash advance on any credit card offered by Andhra Bank. Interest on cash advance or finance charges are levied on a monthly rate from the day cash is withdrawn using the credit card till the amount is repaid in full. Interest for the cash advance is chargeable from the date of the amount withdrawn to the billing date.
Credit Card Cash Withdrawal Bankwise
You can withdraw at any of the ATMs, and not specifically from Andhra Bank ATMs. The procedure to avail of cash advance from ATMs using a credit card is similar to that of using a debit card.
Advantages of Cash Advance:
Disadvantages of Cash Advance:
No, you do not have to get any approval from the bank before you use your credit card at the ATM for withdrawing cash.
No, the facility of cash withdrawal is available on only a few credit cards
The cash withdrawal transactions will be mentioned in your credit card statement.
Yes, you have to pay an additional fee when you use your credit card to withdraw cash from the ATM.
You will have to repay the cash that you withdraw at the time of making payment for the statement. You do not have to pay the amount in cash.
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