Personal Finance

Cash advance in US dollars?

  • Last Updated:
  • Apr 27th, 2012 7:39 am
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Deal Addict
Mar 28, 2008
2076 posts
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Cash advance in US dollars?

Might be a dumb question, but I haven't been to the States....

If I wanted US CASH, could I do a cash advance (in US dollars) from my Canadian credit card, and pay it off right away so minimal interest? And could that be done in Canada or US, at a ATM or Branch, or "all of the above".

I realize most credit cards would cost more than just going to the bank... But I was looking at getting the Amazon card with no foreign exchange fees, so it would only cost the 1% advance fee??

Second, can I use a Canadian debit card (CIBC) to withdraw cash in the US?

Or am I best to just go to CIBC teller or atm and withdraw there (and hope I guess the right amount i need)?
3 replies
Newbie
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Apr 3, 2012
20 posts
NEPEAN
yes your card will work at U.S ATMs but you might get hit with lots of off bank ATM fees from $1.50 to $10.00 and CIBCs cash advance fee of $3.50 and there might or will be that 2.5% conversion fee for the cash

i think might be best just to get the cash you need here then go
Deal Addict
Mar 28, 2008
2076 posts
902 upvotes
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storm867 wrote: yes your card will work at U.S ATMs but you might get hit with lots of off bank ATM fees from $1.50 to $10.00 and CIBCs cash advance fee of $3.50 and there might or will be that 2.5% conversion fee for the cash

i think might be best just to get the cash you need here then go

Ya I figured it would be best to get it from my own bank if I knew how much I needed... but don't really want 100's left over when I come back to deal with... So more of a way to get any/if Im short when Im there.

Do cash advances from a Visa card have off bank/atm/out-of-country fees other then the typical 1% advance fee? (if it even works outside of Canada/Canadian $$)
Sr. Member
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Mar 13, 2012
865 posts
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Planet Earth
Cash advances from a CC are going to cost way more money then withrawing US cash from the bank teller. IMO, you should go with cash and if you have too much left over then keep it for your next trip or wait till the USD is higher then CDN to cash it back in CDN. If your short, take the hit at a credit union ATM in the USA. They tend to keep rates at about $3.50 for the fees.

Advice: Never carry too much cash in the USA and be careful where you flash it. Paying $5 for an ATM is worth way more then a mugging or worse.
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