What is "overdraft cash advance"?

Personal Finance on September 16th, 2011 3 Comments
Tim M asked:

I've been charged $100 "overdraft cash advance" and $10 "overdraft protection" from my credit card.
Do you know what those are?
PS: I never withdraw money from my credit card.
Thank you.
I see!!
I've withdrew fast cash $80 without looking at my checking account when I had $75.43.
Damned.
That means you I to check first how much I've there. For adding $4.57 at the moment, they're charging $10!!! I'd rather have seen an attention note on the ATM screen, says YOU DON'T HAVE THAT MUCH FOOL :)
Thanks for the comments.

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3 Responses to “What is "overdraft cash advance"?”

  1. DIVA says:

    yes its that you went over the limit you are aloud

  2. BIGL says:

    from what it seems it's like there giving you a cash advance kind of like a loan for 100.00 dollars and there charging you 10.00 dollars to do it . if you didn't go over on any of your credit cards or bank cards then you should call them and look in to it or else thats what there charging you .alot of people or credit cards offer free this and that and if you dont cancel them they start charging you alot of things are free for some times and after that free trail ends and you dont cancel they start charging you thats how they make there money be careful read the fine print . good luck .

  3. jackie says:

    if you have overdraft protection set up on your account then every time you overdraft they will transfer money from your cc to make sure you do not have a negative balance. by doing this, there is a fee that incurs. so you are charged the $10 for every time an overdraft protection transfer is used. this is to help manage your money. if you have a negative balance for too long, your bank account will close. this will then lead you to possibly being on check systems. so the overdraft protection prevents you from ruining your bank history.