A cash advance is a short-term cash loan when you withdraw from an ATM using your credit card. There are some fees associated with cash advances, including ATM fees, interest fees, and potentially ATM operator fees.
View your cash advance APR (Annual Percentage Rate) by going to the account details in your credit account.
Fees for cash advances
When you withdraw cash from an ATM using your credit card, you’ll be charged an ATM fee and you’ll start accumulating interest fees on the same day. You may also be charged additional ATM operator fees
ATM fees
- $2.50 in Canada for each ATM withdrawal.
- $5.00 abroad for each ATM withdrawal.
Some ATM operators may charge additional fees other than the ATM fees.
Interest fees
Interest fees for cash advances start to accumulate the same day you withdraw cash from an ATM using your credit card. Interest is calculated daily on the total balance you owe (which includes the amount of cash you withdrew, ATM fees, and any additional ATM operator fees).
The interest rate for cash advances is your cash advance APR. Go to the account details in your credit account to view your cash advance APR.
You won’t be charged interest fees if you withdraw the negative balance on your credit account from an ATM.
Daily and monthly limits for cash advances
If you exceed the daily or monthly withdrawal limit for cash advances, then your transaction will be declined. You’ll need to wait before withdrawing more funds using your credit card.
If your cash withdrawal is declined because you’ve reached the daily or monthly cash advance limit, you’ll receive an email notification.
Daily withdrawal limit is $500
You can withdraw cash from an ATM up to the daily limit of $500, which includes any ATM fees. If you exceed the daily limit, your cash advance transaction will be declined.
After reaching the daily withdrawal limit, wait 24 hours before trying to withdraw cash from an ATM again.
Monthly withdrawal limit is $3,000
You can withdraw cash from an ATM up to the monthly withdrawal limit of $3,000, which includes any ATM fees. If you exceed the monthly withdrawal limit, your cash advance transaction will be declined.
After reaching the monthly withdrawal limit, wait for 30 days before trying to withdraw cash from an ATM again.
Any transactions declined due to an incorrect PIN at the ATM will still count towards the daily and monthly withdrawal limit.
Get a cash advance with your credit card
To withdraw cash using your credit card, use any ATM worldwide that displays the Mastercard, Cirrus, or Maestro logos.
- Insert your credit card into the ATM
- Enter the 4-digit PIN of your credit card
- Select Cash advance and follow the on-screen instructions
If you don't remember your credit card PIN, you can view your PIN on the Neo app or website.