How Direct Express Cash Advance Works
What Is A Cash Advance?
A cash advance allows you to withdraw cash from an ATM or over the counter at a bank after you have reached your ATM withdrawal limit.
This limit is typically $500 per day. If you need more money, a cash advance is an easy solution.
Cash advances are usually associated with credit cards, however, some banks also allow cash advances using debit cards.
There is one major difference between credit and debit card cash advances. The credit card cash advance is a type of short-term loan that you need to pay back.
This is not the case with the debit card cash advance. In order for it to process, you must have sufficient funds in your account. In fact, a debit card cash advance is just like taking out money from an ATM.
Because your Direct Express MasterCard is a debit card without a line of credit, you won’t be able to obtain a cash advance unless you have sufficient funds on your account.
How Can I Get A Cash Advance With My Direct Express Card?
There are several options for getting a cash advance:
Debit card cash advances are available at most banks for non-customers. All you need to do is present your card at the teller window and the money will be debited from your account.
Banks typically charge a fee of up to $5 for this service. Note that Citibank and SunTrust are two of the larger financial institutions that don’t allow cash advances.
Alternatively, you can withdraw cash at your local grocery store, gas station, or drugstore. When making a purchase using your Direct Express card, ask for cash back. Most stores limit cash back to anywhere from $50 to $200.
Always make sure to keep an eye on your bank account balance to avoid withdrawing money that you have already committed to automatic bill payments, for example.
A store may approve a cash-back transaction that will cause you to have insufficient funds for later payments.
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