Citi Credit Card Cash Withdrawal Charges

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Citi Credit Card Cash Withdrawal

Cash advance or cash withdrawal allows the user to withdraw money from ATMs using Citibank Credit Cards. Just like a debit card, an emergency fund or instant loan can be accessed with the help of a Citibank Credit Card. Most of the cards allow this feature. However, there is a limit to the amount of cash that you can withdraw with a credit card. Most cards allow a cash withdrawal of 30% to 40%.

For example, if your Citibank Credit Card comes with a credit limit of ₹ 1 lakh, you would be able to withdraw only ₹ 30,000 or ₹ 40,000, depending on the limit that comes with your credit card. It is also important to note that availing of this feature attracts certain charges.

Citi Credit Card Cash Withdrawal Limit

Along with the pre-approved credit limit, every Citibank credit card comes with a cash advance limit. The same is communicated at the time of card issuance. The Citibank cash advance limit or withdrawal limit is the maximum funds that can be withdrawn on the card in cash without attracting any over-limit charges. This cash limit forms a part of the overall credit limit, which is dependent on the card’s usage. As a result, withdrawing cash on the CitiBank credit card reduces the available credit on the card. Usually, the Citi card cash advance limit is between 30-40% of the total credit limit available on the card.

Fees and Charges Citi Credit Card Cash Withdrawal

Certain withdrawal charges and fees are applicable on availing of the cash withdrawal facility from Citi credit card. One such fee is the Citi cash advance fee, a special fee levied every time you withdraw cash, even if it is on the same day. The cash advance fee for most Citi credit cards is typically 2.5% of the total cash withdrawn, or ₹ 500, whichever is higher. Some credit cards, such as the Citi PremierMiles Credit Card have a Citi cash advance fee of 2.0% of the total cash withdrawn, or ₹ 300, whichever is higher. Apart from this, it also attracts finance charges of approx 3.5% per month.

Interest Charged on Citi Credit Card Cash Withdrawal

Finance charges are levied from the date of transaction on availing cash advance on the Citi card. As a result, there is no interest-free period or grace period on a loan, and the interest is calculated on a daily basis. While usually, finance charges levied by banks range from 2.5% to 3.5%, most Citibank credit cards have 3.5% of the total amount withdrawn, levied as interest charges per month, or 42.00% annually.

How to Withdraw Cash Using a Citi Credit Card

Citibank’s credit card cash withdrawal process is simple and easy to follow.

  • Step 1: Visit an ATM

  • Step 2: Swipe or enter your Citi credit card in the card slot of the ATM

  • Step 3: When prompted, enter your Citibank Credit Card PIN

  • Step 4: Once validated, enter the required amount

  • Step 5: The ATM will dispense the amount requested in currency note

Advantages & Disadvantages of Citi Cash withdrawal facility

Have a look at the advantages and disadvantages of the Citi Cash withdrawal facility-

Advantages of Citibank Cash Advance facility-

  • No need for approval

  • Enjoy instant cash

  • No documentation required

  • Withdraw cash from ATM

  • Get emergency fund instantly

  • The cash limit can also be used for card transaction

Disadvantages of Citibank Cash Advance facility-

  • Every withdrawal charges a cash advance fee

  • Interest charged is higher compared to regular card transactions

  • There is no interest-free period

  • Interest starts from the day you make transaction

  • No reward points are offered

FAQs about Citi Credit Card Cash Withdrawal:

  • ✔️What are the charges for cash withdrawal from Citibank credit cards?

    Cash advance fee

    2.5% of cash withdrawn or ₹ 500 (whichever is higher)

    Finance charges

    3.1% - 3.5% per month

  • ✔️Can I withdraw money from my Citi credit card?

    Yes, you can easily withdraw money using a Citi Credit Card, just like any other debit card. At an ATM, you can swipe the card, enter the pin, and the money will be dispensed accordingly.

  • ✔️How much cash can I withdraw from my Citi credit card?

    You can withdraw cash within the cash advance limit on your Citi credit card. This is usually a percentage of the total credit limit and will be communicated to you at the time of sourcing the card.

  • ✔️What are the advantages of Citi Credit Card Cash Advance?

    Using the cash advance facility on Citi credit cards, you can withdraw funds from a nearby ATM effortlessly by swiping your card. This advantage of using a credit card as a debit card lets you access funds quickly in case of an emergency without the need for any documentation.