Can you use a credit card at an ATM?

Most, if not all, credit cards have a “cash advance” service where users can take out cash from any ATM that is part of the network of the issuing bank. Users can withdraw a certain amount using their credit card anywhere in the world as long as the ATM is linked to the issuing bank or financial institution. A list or description of the ATMs and places where the cash advance service can be availed of is usually readily available from the issuing bank or institution.

Banks and financial institutions put a maximum limit per credit card account on the amount of cash that can be withdrawn. This maximum amount can be a fixed amount or a percentage of your total credit limit. Your issuing bank or financial institution can also change this maximum limit from time to time.

Cash advance transactions are subject to service fees which can be a percentage of the amount withdrawn or a fixed amount. Cash advance transactions can also be subject to finance charges every month until they are paid in full.

Credit card cash advances are meant for emergencies and users are advised not to use cash advances for ordinary purchases or items. Making frequent credit card cash withdrawals can only add up to your current credit card debt.

Credit card account holders are advised to read up on the terms and conditions of their credit cards to keep themselves well-informed of fees and charges. Credit card users should also know their cash advance limits to avoid excess charges or interests.