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What is a cash advance and how does it work?

What is a cash advance?

Most credit cards allow you to withdraw money from your credit card account. This is called a cash advance.

Types of cash advance:

  • Cash withdrawal at the ATM using your credit card
  • Online transfer from your credit card to your Everyday account
  • Cash transactions such as transfers, gambling and travellers’ cheques

The cost of cash advances
Comparing fees and rates between cards

What is the cost of a cash advance?

A cash advance is convenient if you’re short of cash, but will cost you more than making a credit card purchase for the same amount.

The interest rate for a cash advance is higher than the standard variable purchase rate on the credit card. You’ll also be charged a cash advance fee (which is 3.0% of the value of the transaction and will appear on your credit card statement directly below the relevant cash advance). For more information, refer to your Credit Card Terms and Conditions (PDF 273KB)

There is no interest-free period for cash advances. Interest is calculated daily from the date of the transaction until the cash advance, cash advance fee, and cash advance interest is paid in full. 

How does your credit card compare?

It pays to be familiar with the fees and interest rates of your card and other credit cards. Compare interest rates on Westpac credit cards to learn more.

For tips on managing your credit card, read 6 steps to pay off your credit card


Things you should know

Credit criteria, fees and charges apply. Offers are not available in conjunction with any special offers that are not listed on Switches, upgrades or customers accessing employee benefits are ineligible. This information does not take into account your personal circumstances and is general in nature. It is intended as an overview only and it should not be considered a comprehensive statement on any matter or relied upon as such. Cash advances not available on Lite Card, Flex Card or PartPay.​


© Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. The Westpac Group, 275 Kent Street, Sydney, NSW 2000, AUSTRALIA.