ATM Cash Withdrawal: New rules for withdrawing money from ATMs

Credit Card Cash Withdrawal: At present, various banks in the country provide ATM Card and Credit Card facility to the customers. Most of the customers avail the facility of cards issued by the bank. It can be said that using debit and credit card is more beneficial for customers.

Most of the people get money from ATM using Debit Card usually. Apart from this, you can also withdraw money using a credit card at an ATM. It is also necessary to know that there is a need to pay such a fee to get money using a credit card at an ATM. Similarly, if you withdraw money through credit at an ATM, it will directly affect your Cibil Score.

Credit card money withdrawals from ATM Important information:

People often turn to credit cards first when they face financial difficulties. Banks will not give you loans on cards. But like debit cards, credit cards also have cash advance facility. You can easily withdraw money from a credit card by going to an ATM in the same way that you can withdraw money from a debit card.

Also Read: Central Government Big Update: 64 Lakh Phone Connection Cancel

Keep these points in mind before withdrawing money from an ATM

Before you withdraw money using a credit card through an ATM, pay attention to your credit score. This is because withdrawing money from an ATM through a credit card can lower your credit score. Yes, if you withdraw money through credit at an ATM, your CIBIL score is likely to decrease. If your credit score goes down, you will suffer more losses.

Also Read: Employees Good News: Five Days Work A Week, Salary Increase 15 Percent

Fee must be paid if withdrawn money from a credit card:

Higher interest rates are charged on the loan when you withdraw money from a credit card. So you don’t get any grace period on this, which means interest rates start rising immediately. In addition to this you will also have to pay a fee.

If you are withdrawing money from an ATM, you may also have to pay a small usage fee. Withdrawing money from a credit card won’t affect your score, but be aware that if you don’t pay back the interest immediately, your debt will increase.