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Glossary

Cash Advance Fee

A cash advance fee is the fine imposed by a bank when you use a credit card to withdraw cash. The fee may be either a percentage of the amount of cash withdrawn, or a flat fee. Sometimes banks limit how much cash you can have advanced.

Your bank may either deduct the cash advanced fee on the spot from the funds you are receiving, or may post the charge to your account. In either case, interest begins to accrue immediately the money you received.

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