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Credit card cash withdrawal

If you’re short on cash, you can use your credit card to withdraw money, but it may cost you.

Whether you’re paying for goods in a shop, or for a ride in a taxi, there can still be times when you need cash.

But before you start making withdrawals using your credit card, make sure you know about any fees you may be charged for doing so.

Can you withdraw cash using a credit card?

Yes. You can use your credit card to withdraw cash from an ATM. It works the same way as your debit card, but there may be fees for doing this, such as ATM charges and fees from your credit card provider.

You can find the fees and chargers in the lender's Schedule of Services and Tariffs, sometimes referred to as a "Finance Charge". It's important to check this before withdrawing cash from the credit card.

If you can, you should consider other options before using your credit card.

What are the credit card cash withdrawal charges?

The amount you’re charged for using your credit card to withdraw cash can vary depending on your credit card provider. If you’re unsure what the fee is, check with your bank.

If you have an HSBC credit card, it’s 3% of the amount you withdraw, with a minimum of AED 100.

Be aware that there’s a charge every time you use your credit card to withdraw money. If you’re making multiple withdraws, you’ll be charged a fee for each transaction.

There may also be additional charges for withdrawing cash using your credit card when outside the UAE.[@financing-arrears-warning]

Alternatives to using your credit card to withdraw money

Use your debit card

If you have the funds available and your debit card with you, it can be more cost effective to withdraw cash this way.

It may even be worth checking the costs for using your overdraft, if you have one, compared to using your credit card to take out money.

Look at an HSBC Cash Instalment Plan

An HSBC Cash Instalment Plan allows some eligible HSBC credit card holders to transfer money to their bank or savings account. It can then be repaid in instalments over a fixed period.

If eligible, you can apply for an HSBC Cash Instalment Plan through the HSBC UAE Mobile Banking app. You’ll be informed of any interest or fees before you apply for cash.

Things to consider

It’s important to remember that credit cards are not designed to be used in the same way as debit cards. While it can be helpful in an emergency, repeatedly using your credit card to make withdrawals can get expensive.

Always familiarise yourself with the types of fees and charges of a credit card - this should be outlined in the lender's Schedule of Services and Tariffs.

Explore more

Learn how credit card charges work and how you can avoid them.
Find out more about credit cards and how they work to help you decide if they’re right for you.
Learn more about the different types of credit card to help find the one that’s right for you.