Bank of America charges a fee for cash advances on debit cards. The fee is either $5 or 3% of the withdrawal amount, whichever is greater, up to a maximum of $10.00. This means that if you were to withdraw $100 from an ATM using your Bank of America debit card, you would be charged a cash advance fee of $5. If you were to withdraw $500, the fee would be 3% of that amount, which is $15. However, since there is a maximum fee of $10, you would only be charged $10 in this case.
I have personally used my Bank of America debit card to get a cash advance before, and I was indeed charged a fee. It was a convenient option for me at the time because I needed cash quickly and did not have a credit card available. However, I did make sure to consider the fee and factor it into my decision.
It’s important to note that cash advances on debit cards should typically be used as a last resort, as they can be expensive. The fees associated with cash advances can add up quickly, especially if you are withdrawing large amounts of money. It’s always a good idea to explore other options, such as using your credit card or finding an alternative method of obtaining cash, before resorting to a cash advance on your debit card.
Bank of America does charge a fee for cash advances on debit cards. The fee is either $5 or 3% of the withdrawal amount, whichever is greater, up to a maximum of $10. It’s important to consider this fee before deciding to use a debit card cash advance and to explore other options if possible.