What is a credit card cash advance fee?
Last updated 03 July 2015
Each time you withdraw cash or transfer money from your credit card account you are charged a cash advance fee. This includes:
- Withdrawing cash at a CommBank branch or other Australian bank, ATM’s either in Australia or overseas and getting cash out at a terminal or financial institution overseas
- Transferring funds from your credit card using NetBank, the CommBank app, Phone Banking or at Australia Post
- When making cash equivalent and cash substitute transactions such as gambling, money transfers and buying lotto tickets, foreign currency and traveller’s cheques.
The fee charged is $2.50 or 2.00% of the transaction amount up to a maximum of $150, whichever is greater (or $2.50 will be charged if your closing balance was in credit the previous business day).
As well as the fee, you'll also be charged interest on your cash advances (Interest is calculated per day and is payable each month).
For more info, please refer to our fees and charges for credit cards