What does Cash advance fee mean?
The cash advance fee is a type of charge a consumer gets charged with by his or her credit or debit card issuer for using the cash credit line. The access to this can be made either at the specific bank’s teller window, through an automated teller machine, or via convenience checks, on the client’s account.
This fee is usually a fix percentage of the withdrawn amount. If the transaction involves a small cash advance then there is a minimum cash amount charged. Finance charges generally build up over time, and it gets applied starting from the date when the advance was accessed. There is typically no grace period for charges like these, whereas it is present with purchases.