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Credit Card cash advance fee

Posted by SarahF SarahF
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A cash advance fee is charged for every cash advance transaction which includes; withdrawing cash or transferring funds from your credit card, and for gaming/gambling purchases. The fee will be 2% of the value of the transaction or $4, whichever is higher.

 

Effective from 1st April 2010, all purchases for gaming or gambling transactions such as lottery tickets, gambling chip purchases, and online gambling purchases will be treated as cash advances and the cash advance interest rate will apply to them. These transactions will be identified as gaming, or gambling, from the Merchant Category Code supplied with each transaction from Mastercard. These transactions include online and other betting.

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