Can you withdraw cash from a credit card? (And should you?) ​

If you’ve ever found yourself in a pinch and wondered, “Can I withdraw cash from my credit card?” the short answer is yes. But before you rush to the nearest ATM, it’s crucial to understand the hidden costs involved and how to avoid them. In this guide, we’ll break down everything you need to know about credit card cash withdrawals, including fees, foreign transaction costs, and how Curve Wallet can help you avoid them altogether.

What Happens When You Withdraw Cash from a Credit Card?

When you use your credit card to take out cash from an ATM, this is known as a cash advance. Unlike regular purchases made on your credit card, a cash advance is treated differently by your credit card issuer, and not in a way that benefits you.

The Biggest Downsides of a Cash Advance

1. Cash Advance Fees – Most banks charge a fee when you take out cash using your credit card. This fee is typically 3-5% of the amount withdrawn, with a minimum charge (usually around £3-£5 per transaction).

2. Immediate Interest Charges – Unlike regular purchases, where you get a grace period before interest kicks in, cash advances start accruing interest from the moment you withdraw. The interest rates on cash advances are often much higher than standard purchase rates, sometimes exceeding 30% APR.

3. Foreign Transaction Costs – If you take out cash abroad, you’re hit with extra fees:

   • A foreign transaction fee (usually 2-3% of the amount withdrawn).

   • A markup on the exchange rate, which can add another 3-5% to your costs.

   • ATM fees charged by the local bank, which can range from £1-£5 per transaction.

In total, withdrawing £100 abroad could cost you an extra £10-£15 in fees – money that could be better spent elsewhere!

How to Withdraw Cash from a Credit Card Without Paying Fees

A smart way to avoid these charges is by using Curve Wallet. Curve is a financial app that links all your debit and credit cards into one smart card, allowing you to make payments and withdraw cash in a much more cost-efficient way.

How Curve Wallet Helps You Save on Cash Withdrawals

• Fee-Free Cash Withdrawals – Curve allows you to withdraw up to £200 per month for free from your credit card.

• No Foreign Transaction Fees – If you withdraw cash abroad using Curve, you avoid the typical 2-3% foreign transaction charge.

• Better Exchange Rates – Unlike banks that sneak in hidden markups, Curve uses the real exchange rate (the same one you see on Google).

By using Curve, you can save up to 5% on every cash withdrawal, making it an excellent tool for frequent travelers or anyone who needs cash access without unnecessary fees.

How Much Do UK Banks Charge for Foreign ATM Withdrawals?

Here’s a breakdown of how much major UK banks charge for cash withdrawals abroad:

Bank	Cash Advance Fee	Foreign Transaction Fee	Exchange Rate Markup	Typical Total Cost on £100 Withdrawal
Barclays	2.99% (min £3)	2.99%	3-5%	£10-£12
HSBC	2.99% (min £3)	2.99%	3-5%	£10-£12
Lloyds	5% (min £5)	2.99%	3-5%	£13-£15
NatWest	3% (min £3)	2.75%	3-5%	£9-£12
Santander	3% (min £3)	2.95%	3-5%	£9-£12

👉 How Curve Can Save You Money: If you link your credit card to Curve and use it for withdrawals, you can avoid these fees entirely. That means instead of losing £10-£15 per withdrawal, you keep all of your money.

Final Thoughts: Should You Withdraw Cash from a Credit Card?

Unless it’s an emergency, withdrawing cash from your credit card isn’t a great idea due to high fees and interest rates. However, if you do need cash access, using Curve Wallet can help you avoid these fees and keep your money where it belongs – in your pocket!

Key Takeaways:

✅ Withdrawing cash from a credit card is possible but expensive. ✅ Cash advances come with high fees and immediate interest. ✅ Foreign cash withdrawals have even higher costs. ✅ Curve Wallet lets you withdraw up to £200 per month for free from your credit card. ✅ Using Curve can save you up to 5% per withdrawal abroad.

So next time you need cash, consider linking your credit card to Curve and withdrawing without the hidden charges. Your wallet will thank you! 🎉