on 26-10-2018 06:44 PM
in in regards to BankWest Zero MasterCard, if I transfer a surplus of say $1000 above my credit limit and I am overseas (Singapore) and withdraw $1000 from an ATM there and don’t eat into credit limit at all:
- Will I pay a cash advance fee (2%)?
- Will I have to pay interest (21.99%) on the amount I withdraw?
i presume the answer to both of those is no as it is my money I am withdrawing however I just wanted to get that confirmed.
Solved! Go to Solution.
on 29-10-2018 10:15 AM
Hey @Markyboy, thanks for reaching out.
A Cash Advance Fee of 2% or $4.00 - whichever is the greater - will apply if the account has a debit balance after the withdrawal. Though, in situations where the credit card account has a credit balance after a cash withdrawal, the fee will be $4.00. It's good to note that this fee is waived when withdrawing cash using Bankwest branches, Bankwest Online Banking, Bankwest ATMs and Commonwealth Bank ATMs.
It will apply when withdrawing funds internationally - as though it will show as a "Cash Advance Fee" - it's actually in place of the "Overseas ATM Fee".
As long as you don't access any amount within the card limit, you also won't be charged any interest
I hope this helps!
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