Subscribe to InfoChoice to receive

Special offers
Exclusive offers
Market data, trends and insights

Banking / Savings Accounts / Beware ANZ cash advance fee

Beware ANZ cash advance fee


Withdrawing cash from your credit card account is a very expensive way of getting ready cash – especially if using an ANZ credit card. Since May, ANZ Bank no longer charges a flat fee on cash advances but a proportional one; 1.5 per cent of the amount advanced. A cash advance of $1,000 will now incur a fee of $15. As yet none of the other major banks charge for cash advances in this way but there are other new fees creeping in. On top of the upfront fees, remember that on any cash advance on a credit card interest is charged immediately, regardless of any interest-free period applying to purchases. BankChoice recommends that consumers should always carefully consider payment options available, such as EFTPOS, which offer cheaper alternatives to cash advances. Consumers need to be aware that some credit cards also now attract late payment fees and over-the-limit fees. The best way of avoiding these fees is to pay the balance off in full each month which will also reduce the amount of interest you will pay. More information on ANZ’s new credit card fee structure. Not happy with the deal you're getting on your credit card? Click here to compare credit card interest rates and fees or read more tips on credit cards.

Previous Article  Next Article

Savings Account Selector

Savings Amount

Account Type
Account Type

Featured Savings Accounts

Institution Product Max. Rate (%) Details
Maxi Saver (3.50% variable for first 3 months) 3.50 Go to site
Maxi Saver Account 3.50 Go to site
Savings Maximiser (Base rate 2.25%p.a + 1.25%p.a Standard Bonus Rate = 3.50%p.a on balances up to $100K) 3.50 Go to site
RaboDirect High Interest Savings Account 3.50 Go to site
Maxi Saver (NSW, ACT, SA & NT) 3.50 Go to site
Maxi Saver (QLD, VIC, WA & TAS) 3.50 Go to site
Institution Product Max. Rate (%) Details

Based on promotional or introductory rates for an online savings account of $5,000. For information on how we've selected these “Sponsored” and “Featured” products click here.


2015 Partner Awards

Money partner of the year

AFR Smart Investor
Blue Ribbon Awards

Find out more

Twitter Facebook

© InfoChoice Pty Ltd ABN 93 061 105 735 AFSL and Australian Credit Licence number 349445

Although we cover a range of products, providers and services we don't cover every product, provider or service available in the market. The information and products contained on this website do not constitute recommendations or suggestions to purchase or apply for any particular product. Products included on this site may not suit your personal objectives, financial situation or needs. Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision.

Go to top