Hi all,
As per title, my NAB credit card is in credit. So if I transfer the extra amount in credit to normal bank acc, there won't be a cash advance fee correct? Thanks
Credit in credit card. No cash advance fee yes?
Lancerx on 05/06/2015 - 21:43
Comments
Yes surplus fund…thanks!
No, it will still attracts cash advance fee.
You know this how?
it will still attract the fee. Its still the banks money lol.
"Cash Advance Fees
The following cash advance fees apply to all credit card accounts, except NAB Visa One Fee-Free.
For Cash Advances you will be charged a percentage of the Cash Advance (in Australian dollars) or the minimum fee, whichever is the greater.
Note: NAB posts purchases and cash advances in that order to your account before posting payments and refunds.
All channels
Cash Advance amount 1.75% Minimum fee $1.75"It doesn't say anything about situations when the account is in credit. (CBA & ANZ do in their fee guides and have varying fees depending which channel the cash advance is obtained and if account is in credit)
Previously I've been able to transfer surplus funds without copping a fee. Just checked my bank support forum and yes, they charge a fee for transferring surplus funds to another account. However, if you call their Credit Card Team and request a transfer to your transaction account it's no cost but takes 3 days.
Sorry for my previous inaccurate answer.
As per title
The title doesn't even make sense.
If the above posters understood, then I guess it's just your IQ issue then eh?
No cash advance fee yes?
That's not a question.
Put it simply, I have 6k as credit limit.. Currently it's $6050.so if I transfer $50 out to different bank ac, will there be any fee
My bank explained i would be charged fees. They suggested i waot for next bill and pay it from my credit card to get it the balance back out of credit. This was for my suncorp card.
The interest you are not getting for $50 is not much. Just pay a bill or buy something with the $50.
going by terms and conditions someone listed above, yes you will be charged. $1.75 it looks like for the $50 you transfer.
edit: you did a bank transfer… so no you won't have a cash advance fee… because you're not getting cash out…
wtf stupid thread
If in credit you mean you have surplus funds on your credit card, then yes, there will be no cash advance fees if you transfer the surplus to your bank account.