Can you pull cash from credit card

If you’re having trouble getting cash from a credit card, it’s possible that the transaction put you above your credit card’s limit for cash withdraws, which is known as a cash advance. Many credit cards have an overall credit limit and a separate lower limit for cash advances and checks written from your credit card account.

What is a credit card cash advance

Most credit card companies offer you the ability to use your credit card to take out money through what’s known as a cash advance. Unlike a debit card, however, getting cash with your credit card at an ATM is considered a short-term loan and can be expensive.

Fees for a credit card cash advance

Unlike withdrawing money from a bank account, a cash advance pulls money from your line of credit through your credit card. In addition to repaying the money you withdraw, you’ll need to pay additional fees and interest as well.

The fees for a cash advance can be substantial. Depending on your credit card terms, the company may charge a flat fee for withdrawing money, or they’ll charge you a percentage of the cash advance. Keep in mind, you may incur additional ATM fees as well.

Interest for a credit card cash advance

In most cases, you’ll also commonly pay a higher interest rate for a cash advance than you would for a typical credit card purchase. Unlike other purchases that have a grace period before they start to accrue interest, interest on a cash advance starts as soon as you withdraw your money.

Before considering a cash advance, check your credit card’s terms and policies to find out the credit limit and fees associated with it. Your latest credit card statement will also list the current interest rate for cash advances. You can also contact the company directly by using the number on the back of your credit card.

Learn more about managing your credit cards

Overview

Get extra cash instantly with UOB Cash Advance

Never worry about not having enough cash in times of need. Whether it’s for your home furnishings or an emergency cash fund when the unexpected happens, with UOB Cash Advance, you can convert your UOB Credit Cards' credit limit into instant cash wherever, whenever you want it.

3 Easy ways to instant cash

Here’s how to perform a Cash Advance:

• Withdraw cash at any local UOB ATM using your credit card and PIN.
• When overseas, visit any UOB / Cirrus / PLUS ATM with your credit card and PIN.

Don't have your credit card PIN?

Simply reset your PIN instantly via:

• UOB TMRW
• UOB Personal Internet Banking with these simple steps:
  • Go to Account Services > Manage Cards > Select "Card Pin Reset" under Actions
• Call our hotline 1800 222 2121 for assistance.

With UOB Cash Advance, never worry about not having enough cash on hand.

• The minimum amount for Cash Advance done via ATM is S$200.
• Cash Advance amount is pegged to 75% of your credit limit or available credit limit (whichever is lower) and Cash Advance transaction is not applicable on temporary limit.
• Maximum cash withdrawal amount from a UOB ATM is S$3,000 per day.
• Interest will be charged on a daily basis from the date of each Cash Advance transaction, until the date full payment is made. Please refer to the UOB Cardmembers Agreement for full breakdown on interest.
• A Cash Advance fee of 8% of the transaction amount or S$15 (whichever is greater) applies for each Cash Advance transaction, and will be charged to your UOB Credit Card.
• Funds Transfer to UOB account performed after 10pm or on Sunday and public holidays will be reflected as the next business day’s transaction in your debiting account statement. For non-UOB banks’ submission after 3.30pm will be treated as the next business day’s transaction. Please allow 2 to 3 business days for the payee bank to process the transfer.
• With effect from 22 April 2022, quasi–cash transactions (at merchants such as Marina Bay Sands, Resort World Sentosa, Dream Cruises & more) under MCC 7995 will be deemed as cash advances. Cash Advance fee will apply and interest will accrue once your card has been charged. For more details, please refer to the list of Frequently Asked Questions.

 

Features & Benefits

When you need some extra cash to see you through an emergency, ask us for any amount up to your available credit limit and receive it in your account immediately.

 

Apply now

Get instant cash anytime, anywhere

• Digibank: Simply login to get cash via FAST
• DBS/POSB ATMs in Singapore or overseas: using your credit card PIN
  • If you forgot your PIN, do call us at 1800 111 1111 or +65 6327 2265 (from overseas)
• In person: Visit any DBS/POSB branch, or any overseas bank displaying your card logo (American Express®, Visa or MasterCard®)
• Phone6: Call our Customer Service Hotline at 1800 111 1111 or +65 6327 2265 (from overseas)

Terms & Conditions

1. Cash advance withdrawals are pegged to your available credit limit
2. There is no minimum cash advance withdrawal amount
3. Maximum withdrawal amount from a DBS/POSB ATM is S$3,000 per day
4. A 8% transaction fee or S$15, whichever is greater, applies for each cash advance transaction
5. Finance charge of effective interest rate 28% p.a. (subject to compounding if the charges are not repaid in full) on the amount withdrawn, chargeable on a daily basis from the date of transaction until receipt of full payment (minimum charge: S$2.50)
6. You will get your cash on the same day for requests  before 2pm on weekdays, and on the next working day for requests after 2pm on weekdays, or on Saturdays, Sundays and public holidays.

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