You can use the credit card to withdraw cash from an ATM, provided you have the PIN number that the bank must have sent you. You must know that there is a Cash withdrawal charge from your bank and also from the bank whose ATM you used. This is around 1.5%. Also Interest is charged on a daily basis @ almost 40% per year. So it is not a wise thing to do. I have withdrawn cash a few times - but only in emergencies, like hospitalization of a relative. Each time I ensured that the entire sum + all earlier dues on my card were cleared immediately. Careful. Read the fine print before you proceed - else you could run into huge losses.
unlikely - although incompetence makes anything possible
the point is to reduce your/the bank's risk of being cleaned out
a withdrawal limit and credit limit of £500 would not be an effective management of risk
£500 is not a large credit limit and might suggest a customer presenting a relatively higher risk profile according to the risk assessment systems used by the lender - a smaller withdrawal limit would go along with this
ATM transactions usually have a set limit you can withdraw, but you can usually withdraw from more than one ATM, or perform multiple transactions to get the amount you need.
I'm not sure what the limit is, but you should know you'll pay a fortune for withdrawing cash - it would be much cheaper for you if you could pay for your item by card.
You would have to call the customer service number on the back of your card or look up the info on their website if they have one. Each credit card company is different. Most companies only allow 200 per day.
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no usually the max is 200 per day
You can use the credit card to withdraw cash from an ATM, provided you have the PIN number that the bank must have sent you. You must know that there is a Cash withdrawal charge from your bank and also from the bank whose ATM you used. This is around 1.5%. Also Interest is charged on a daily basis @ almost 40% per year. So it is not a wise thing to do. I have withdrawn cash a few times - but only in emergencies, like hospitalization of a relative. Each time I ensured that the entire sum + all earlier dues on my card were cleared immediately. Careful. Read the fine print before you proceed - else you could run into huge losses.
unlikely - although incompetence makes anything possible
the point is to reduce your/the bank's risk of being cleaned out
a withdrawal limit and credit limit of £500 would not be an effective management of risk
£500 is not a large credit limit and might suggest a customer presenting a relatively higher risk profile according to the risk assessment systems used by the lender - a smaller withdrawal limit would go along with this
It means that at any point of time your outstanding to the credit card company should not be more than GBP £ 500
ATM transactions usually have a set limit you can withdraw, but you can usually withdraw from more than one ATM, or perform multiple transactions to get the amount you need.
I'm not sure what the limit is, but you should know you'll pay a fortune for withdrawing cash - it would be much cheaper for you if you could pay for your item by card.
You would have to call the customer service number on the back of your card or look up the info on their website if they have one. Each credit card company is different. Most companies only allow 200 per day.
most atm's alow 300 - 350 £ to be withdrawn mine is £350,
so no you can not