Take out a cash advance on your credit card

In this article:

Overview

A cash advance is a withdrawal of cash from your Wealthsimple Visa Infinite*, Visa Infinite +* or Visa Infinite Privilege credit card's available credit limit.

While convenient, cash advances have higher interest rates and fees than regular purchases, and interest starts accruing immediately.

Interest rate

Cash advances have a 22.99% interest rate, charged daily from the date the transaction was made until the payment is made in full.

Interest on cash advances starts on the day you withdraw cash from the card and continues until we receive your payment in full. Unlike purchases, cash advances don't have an interest-free grace period.

Note: If a minimum payment is not received by the due date two or more times within a 12-month period, your interest rate increases to 27.99%. Learn about your credit card interest rate.

Not all ATMs support a cash advance using a Wealthsimple Visa Infinite + credit card. Ensure the ATM you are using has a label indicating that it supports Visa.

Tip: Locate a nearby ATM through the Visa website or mobile app.

How to take out a cash advance

  1. Insert your credit card into any ATM that accepts Visa
  2. Enter your PIN
  3. Select the amount of cash you want to withdraw
Note: ATM withdrawal limits are $500 per transaction and $1,000 per month.

* Trademark of Visa Int., used under license.

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