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How are cash advances charged on my credit card?

Last Updated: 30 Apr 2024

There are two charges you could expect when you make a cash advance on your credit card – a cash advance fee and cash advance interest.

  1. A cash advance fee is only charged when you withdraw cash from your credit card at a bank teller in New Zealand. There is no cash advance fee when you withdraw cash from a New Zealand ATM using your credit card. 
  2. Cash advance interest is charged when you withdraw cash from your credit card account (e.g. a cash advance through an ATM withdrawal, bank teller or a transfer through FastNet Classic internet banking or the ASB Mobile Banking app). Cash advance interest is charged on the daily balance of the cash advance, from the date of the withdrawal until the date the amount is paid in full.

Please remember, the cash advance interest rate is higher than the usual purchase interest rate of a credit card. 

Check out our current fees and charges and understanding credit card interest.


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