Personal Finance

Withdrawing money from PrePaid Visa

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  • Jan 2nd, 2015 5:26 pm
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[OP]
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Mar 2, 2010
444 posts
43 upvotes

Withdrawing money from PrePaid Visa

Hello,

I have an international prepaid Visa card (issued in India by SBI, in CAD currency).

I would like to withdraw the balance of the credit card ($5000), in minimum number of transactions. Can anyone recommend how I can do that?

I went to a CIBC branch and they told me that they cannot take the full balance of the card and put it in my account as it is a cash advance. Also, CIBC atm indicated a daily cash advance limit of $2000 on the card, but also ATM withdrawal limit of $400 (maybe limit for that CIBC ATM).

I am not sure if I withdraw money from CIBC ATM, if I would be charged a $1.50 fees. If so, withdrawing full amount over a period of several days would result in a lot of fees.

Of course, I could use it as a regular VISA, but would rather have cash for various purposes.

Can anyone suggest best way to withdraw that money and minimize any fees. Thanks.
1 reply
Deal Fanatic
Aug 31, 2010
5799 posts
4087 upvotes
If you live near a casino, withdraw at the cage. But, I would recommend finding out the withdrawal maximums for your card beforehand.

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