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Bank of America lets its cardholders get cash in several ways, including cash withdrawal from an ATM and over-the-counter at one of its bank branches. However, this type of transaction comes with hefty fees and interest. Unlike other banks, Bank of America has a slightly cheaper option if you make a direct deposit or check cash advance.
With your Bank of America credit card, you can get three types of cash advances:
Getting an ATM cash withdrawal with your Bank of America credit card is easy. All you have to do is:
Cash withdrawals aren’t the only transactions Bank of America considers as cash advances. Other transactions that fall in this category are:
There are two fees and two interest rates for Bank of America cash advances, depending on the transaction.
ATM, Over-the-counter, same-day online, overdraft protection and cash equivalents cost:
Direct deposit and check cash advances cost:
If you make a direct deposit, your $500 can cost as low as $522.
Bank of America cash advance is an expensive option to get cash. Unless you have no other cash option, this could be useful. But make sure to use it sparingly to avoid paying fees and interest.
There are some credit cards that can be used for cash advances but don’t have all the fees. If that’s what you need, compare credit cards with $0 cash advance fees and low cash advance APR until you find the right fit for your wallet.
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