Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Citibank Credit Card Cash Withdrawal

     

    The cash advance or cash withdrawal feature is available on most of the credit cards offered by Citibank. It allows the cardholders to withdraw cash from ATMs using their credit cards. The facility acts as an emergency fund or instant loan as it can be availed at any point of time without submitting any documents to the bank nor by getting any further approvals.

    Withdrawing cash using a credit card is as simple as withdrawing cash using a debit card from the ATM. However, with regards to credit card cash withdrawal, there are a few fees and charges involved. Hence, cardholders should be aware of all the terms and conditions of Citibank credit card cash advance feature before availing it.

    Provided below are all the details one needs to know about the cash advance feature.

     

    What Is Citibank Credit Card Cash Withdrawal?

    While the basic feature of a credit card allows users to conduct card-based transactions, the cash advance feature, on the other hand, enables cash withdrawals using a credit card. The Citibank card cash advance feature thus allows eligible Citibank credit card users to avail the cash withdrawal benefit using their credit cards. The facility can be availed at all domestic and international ATMs that accept Visa or MasterCard/Maestro cards.

     

    Citibank Credit Card Cash Withdrawal Limit

    The cash advance limit on a credit card is the amount available for cash withdrawal on the card. Just like the credit limit on the card, cardholders should withdraw cash within the cash limit and not beyond that.

    Typically cash limit is a percentage or portion of total credit limit on the card. For instance, if the total credit limit on the card is Rs.50,000, cash limit would be around 30-40% of the credit limit.

    Citibank also sets a cash limit on its credit cards. However, the cash withdrawal limit is typically communicated to the cardholder at the time of card issuance. As each card carries a different cash limit, you need to check the terms and conditions of your card to know the credit limit and cash limit on your credit card. Further, the bank may also set a cap on the minimum and maximum cash allowed for withdrawal per ATM transaction. Also, the withdrawal limit would be different for transactions made at Citibank ATMs and non-Citibank ATMs. All such details will also be communicated by the bank at the time of delivery of the card.

     

    Citibank Credit Card Cash Withdrawal Fee

    Cash advance fee is the charge levied for every cash withdrawal made using a credit card. Everytime you withdraw cash using your credit card, you will be charged with a transaction fee which will be added to your next month billing cycle.

    Citibank collects a credit card cash advance fee of 2.5% of the withdrawn amount or Rs.500, whichever is higher. If you withdraw twice a day, you will be charged for both the transactions based on the billed amount. Further, the cash advance fee also attracts finance charges equal to the charges levied on the withdrawn amount. And the interest will be charged from the date of transaction till the amount is repaid in full.

     

    Interest Charges On Citibank Cash Withdrawal

    Just like the regular credit card transactions, credit card cash advances also attract finance charges or interest charges. However, the only difference between the two transactions is that while card transactions have interest free period, cash transactions are not eligible for any such period. All the cash withdrawals will be charged with interest as applicable from the date of transaction till the due is cleared in full.

    Citibank charges a different interest rate on cash advances for each credit card. It also reviews the rates periodically after analysing certain performance parameters including the usage of the card, total spends, repayment pattern, default payments, if any, and other credit information received from the credit bureaus.

    • For first time credit card users, except for the Citi Ultima Credit Card users, the bank charges an initial interest rate of 3.25% per month or 39% per annum.
    • For other Citibank credit cards, the interest rate may vary from 3.1% p.m. to 3.40% p.m. or 37.2% p.a. to 40.80% p.a. The rate is applicable only when the account is in good standing and all the outstanding dues are cleared on time.
    • For default payments, that is for those who fail to pay even the minimum amount due, Citibank charges interest of up to 3.5% p.m. or 42% p.a.

    The interest will be charged from the date of transaction till the amount is paid back in full. Hence, there is no interest free period for cash advance transactions.

     

    How To Withdraw Cash Using A Citibank Credit Card?

    Withdrawing cash using a Citibank Credit Card is almost similar to withdrawing cash using a debit card. All you need to do is visit any of Citibank ATM kiosks, insert your credit card in the card slot and follow the instructions for cash withdrawal. Step-by-step process is provided below.

    • Visit Citibank ATM kiosk
    • Insert your credit card and enter the PIN, the same PIN which you use for credit card transactions
    • Select ‘Cash withdrawal’ from the menu
    • Enter the amount and press ‘ok’

    Once the cash is dispensed, you will receive a message on your registered mobile number. The amount will be debited from the total cash limit and credited to the total outstanding on the card. Before withdrawing the cash using the credit card, you need to check the available cash limit on the card to prevent over withdrawal.

     

    Citibank Cash Withdrawal Fees And Charges

    A summary of all the charges applicable on Citibank cash advance facility is provided below.

     
    Description of Charges Citibank Credit Card Cash Advance
    Interest Free Period NIL
    Cash advance fee 2.5% of cash withdrawn or Rs.500 (whichever is higher)
    Minimum repayment amount 5% of the outstanding due, subject to a minimum of Rs.100
    Cash advance limit Communicated at the time of card delivery
    Finance charges (on revolving credit) 3.1% - 3.5% per month or 37.2% to 42% p.a.
     

    Pros And Cons Of Citibank Cash Withdrawal Facility

    The advantages and disadvantages of using Citibank credit card cash advance facility are listed below.

    Advantages of Citibank Cash advance facility

    • Instant cash
    • Acts as an emergency fund or instant loan
    • No approval required
    • No documentation
    • Cash can be withdrawn from any bank ATM
    • If unused, the cash limit can be used for card transactions

    Disadvantages Of Citibank Cash Advance Facility

    • Cash advance fee will be charged for every withdrawal
    • Higher interest compared to regular card transactions
    • Interest will be charged from the date of transaction
    • No interest free period
    • No reward points
     

    Frequently Asked Questions (Faqs) On Citibank Credit Card Cash Advance Facility

    1. Can I withdraw cash using my Citibank Credit Card from other bank ATMs?
    2. Yes, you can withdraw cash from other bank ATMs using your Citibank credit card. However, the cash advance fee may vary from Citibank ATMs to non-Citibank ATMs.

    3. What is the cash advance fee for Citibank Credit Card cash withdrawal?
    4. Citibank charges a cash advance fee of 2.5% of the withdrawn amount subject to a minimum of Rs.500. The charge is applicable only when the facility is availed at Citibank ATMs.

    5. Can I increase cash limit of my Citibank Credit Card?
    6. You can apply for cash limit enhancement on your credit card only after using your Citibank Credit Card for at least for 12-18 months. Before applying for limit enhancement, you need to call the bank’s customer service desk to check whether or not your card is eligible for limit enhancement.

    7. How to check cash limit and available cash advance on my Citibank Credit Card?
    8. You can either call Citibank credit card customer care or check your Citibank internet banking account to find the total cash limit and available cash limit on the card.

    9. How many reward points can I earn for cash withdrawals made with Citibank Credit Card?
    10. The reward points programme offered by Citibank is not applicable for cash advances or cash withdrawals using credit card. You will not earn any reward points if you withdraw cash using your Citibank Credit Card.

      

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    Citibank Credit Card Cash Withdrawal Reviews

    • RBL Bank Credit Card
      "Easy to convert for EMI "
      0.5 4.0/5 "Great!"
      I got RBL card offer from BAJAJ Finance. I have been using this card past 10 months which is a life time free card. The credit limit is sufficient of 55K. EMI conversion is avail and I can convert via mobile app whenever required with nominal charge. I use this card for general purpose. Based on usage I get points but not yet redeem it.
      Was this review helpful? 76
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards
      SBI Cards Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      SBI credit card have offers and reward points but I have not redeem them yet, this is a domestic card, the credit limit is of 50000 which I am very much satisfied as per my need. I got my statement on time. I used this card for personal purposes.The card is very user friendly.
      Was this review helpful? 81
      , hyderabad
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      I am using SBI credit card for more than three months, there are some reward points and offers in the card. I used this card for online shopping, fuel surcharge and groceries.The credit limit of the card is sufficient and I like the most about the card is that it is a life time free card and very good to use.
      Was this review helpful? 75
      , hyderabad
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Ok service"
      0.5 5.0/5 "Blown Away!"
      The bank agent suggest me to take credit card from INDUSIND and I have taken it because it doesn't have any annual fee. The offer and reward points are available in the card are good. I am satisfied with the limit of the card. I used the card for general purposes. But it will be nice, if the offers and reward points will be more.
      Was this review helpful? 60
      , jaipur
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am using INDUSIND credit card for 3 months. The card have no offers available and also there is no rewards. The only benefit is that its a life time free card and the credit limit is only for 75000 I am not that satisfied as i expected to get around 1.5 lakh. Apart from the limit over all experience is good.
      Was this review helpful? 59
      , chennai
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Excellent card"
      0.5 5.0/5 "Blown Away!"
      I have got INDUSIND credit card few months ago and I have used it for two months now ,the credit limit of the card is Rs.70000 which is a life time free card. The bank have informed me every details about the reward points and offers but I have not got any time check it. I am satisfied with their card service.
      Was this review helpful? 60
      , hyderabad
      Reviewed on Mar 21, 2020
    • ICICI Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Am having ICICI credit card for two years, I feel good and have not face any issues. The best part about the card is its a life time free card. I used to get my card statement on time. I used this card for shopping, groceries and for many other personal purposes.I am using the bank mobile app which function smooth and simple.
      Was this review helpful? 71
      , faridabad
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have used SBI credit card for 2-3 months, but I have not got any time to check about the offers available in the card. The limit of the card is 38000 and I am satisfied because its a life time free card. I used to get my card statement on time and the net banking is also working very well.
      Was this review helpful? 77
      , faridabad
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service "
      0.5 4.0/5 "Great!"
      Since it is a life time free card offer from INDUSIND so I chosen it and applied through online. I received a call on time and they have done the verification process. Hence I received the card by 7 days, the credit limit is okay for me. Its easy to use for all purposes.
      Was this review helpful? 57
      , chennai
      Reviewed on Mar 21, 2020
    • Citibank Credit Card
      "Good "
      0.5 4.0/5 "Great!"
      CITI has provided good offers and benefits on 2 months before. So I chosen this card and applied through online. It is annual fee chargeable of 500 rupees bu there is waiver off option if I spend 30K within a year. The credit limit is 65K. There is EMI conversion avail for this card.
      Was this review helpful? 55
      , coimbatore
      Reviewed on Mar 21, 2020
    • HDFC Bank Credit Card
      "very good"
      0.5 5.0/5 "Blown Away!"
      I have used credit card from HDFC bank for 1 year which is very good and also very comfortable, its a life time free card and lots of offers are available in the card. This card was suggested to me by my colleague. Mobile banking also functions very smooth.
      Was this review helpful? 83
      , bangalore
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Average service"
      0.5 4.0/5 "Great!"
      INDUSIND bank credit card have an credit limit of of Rs.75000, there is no offers available in the card and it also have a charges of 3000 along with GST. I hardly receive any remainder messages for my bill payment due to that some time I could not pay my bill on time. I would advise them send my bill on time before the due date.
      Was this review helpful? 58
      , bangalore
      Reviewed on Mar 21, 2020
    • ICICI Bank Credit Card
      "Need to increase the credit limit "
      0.5 5.0/5 "Blown Away!"
      I have been using ICICI card for more than one year. They have provided an annual fee chargeable card and waiver off option is applicable. The credit limit is okay of 50K. Since I need to do purchase about 45K on some of the month so this limit is not sufficient. I swipe the card for travel, shopping and fuel purposes. I have not opted for EMI conversion.
      Was this review helpful? 59
      , kolkata
      Reviewed on Mar 21, 2020
    • Axis Bank Credit Card
      "Good card"
      0.5 4.0/5 "Great!"
      I have been using AXIS bank credit card for 3 years, Its a life time free card so I applied the card through bank. The agent have informed me everything about the card. I used to get offers of 10% on petrol bunk and shopping.The limit of the card is Rs.45000 and I used to pay my bill directly through bank.I am also using their net banking which is very good.
      Was this review helpful? 76
      , kolkata
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Good service"
      0.5 4.0/5 "Great!"
      I got INDUSIND credit card from few months ago.The card have an EMI conversion. I used the card for multi purposes like shopping, online payment, ticket booking. This is annually chargeable card, I am not satisfied with the credit limit of Rs.75000 as I am expecting more than than 1 lakh.
      Was this review helpful? 63
      , kolkata
      Reviewed on Mar 21, 2020
    • IndusInd Bank Credit Card
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I got a life time free card offer from INDUSIND bank hence applied through online on three months back. I received the call on time and the process was done on smooth. I got the card on exact time frame. The credit limit is sufficient and they provided good offers and benefit as well.I use this card for shopping and travel purpose.
      Was this review helpful? 50
      , kolkata
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "Average service"
      0.5 1.0/5 "Really Bad"
      RBL credit card is a chargeable card, I always have to go to Bajaj Finance to pay my credit card bill. I am not satisfied with the customer service which has to be improved. I used this card when ever needed for shopping, fuel surcharge and bill payment.The limit of the card is fine.
      Was this review helpful? 85
      , ranchi
      Reviewed on Mar 21, 2020
    • HDFC Bank Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      HDFC credit card is very convenience to use, I have been using the card for 4.5 months for Shopping, groceries, fuel surcharge and electricity bill payment also. I pay my credit card bill through ATM. I always get my bill on time, this card was suggested to me by the bank agent.
      Was this review helpful? 72
      , ranchi
      Reviewed on Mar 21, 2020
    • RBL Bank Credit Card
      "Okay service "
      0.5 3.0/5 "Satisfactory"
      I used RBL card for twice only. I get message or call for EMI conversion from banker. It is a life time free card. Once all the process done I received the card by 15 days. I am holding this card past 6 months. The credit limit is sufficient of 30K. Once I tried to convert for EMI of 3 months it was done on time without any problem. It is Bajaj card.
      Was this review helpful? 57
      , chennai
      Reviewed on Mar 21, 2020
    • SBI Cards Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have been using SBI credit card for the last two months, the credit limit of the card was satisfied it was Rs.9,80,000. The bank agent came and collect my document he have informed me every detail about the card. The card have a charges of Rs.2299 in a year. I used to pay my credit card bill through bank. Am getting my card statement in softcopy but I wish the bank can send me a hard copy statement also.
      Was this review helpful? 91
      , gurgaon
      Reviewed on Mar 21, 2020
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