A cash advance is a service provided by most credit card issuers. Checking what is considered a cash advance can save you money since cash advances immediately incur interest at a rate that's typically higher than the standard purchase rate.
Is your transaction on this list?
Transactions that will be classified as a cash advance
Transactions classified as follows will likely incur the cash advance interest rate and fee. Contact the credit card issuer if you are still unsure how an upcoming transaction may be classified, especially if it is for a large amount.
- Betting or gambling transactions. For example, depositing funds at an online gaming website using a credit card.
- BPAY payments. Depending on the card, BPAY bill payments funded with a credit card may be classified as a cash advance.
- Buying cryptocurrency. Depositing funds at a crypto exchange account with a credit card.
- Buying foreign currency. Using a credit card to buy foreign currency at a bank or currency exchange.
- Buying gift cards. Typically classified as equivalent to cash, buying a gift card may incur the cash advance rate and fee.
- Buying traveller's cheques. Using a credit card to buy traveller's cheques from a bank or currency exchange.
- Funding a trading account. Depositing funds in a trading account with a credit card to buy shares and make other investments.
- Loan repayments. Using a credit card to fund a monthly repayment for a car, home, or personal loan.
- Sending money overseas. Using a credit card to fund an international money transfer.
- Topping up a prepaid card. Depositing funds onto a prepaid card using a credit card.
- Withdrawing cash. Using a credit card to withdraw cash from an ATM or over the counter in a bank. Overseas cash withdrawals are typically subject to additional fees.
This is not an exhaustive list of transactions that may be classified as a cash advance. If in doubt, contact customer service before making the transaction.
