Why Trust MoneySmart?Yes, you can withdraw cash from a credit card in Singapore—this is known as a cash advance. A cash advance lets you obtain physical cash using your credit card limit, either at an ATM, through your bank’s app, or over the counter at a branch.
However, it is generally not recommended for most people.
A cash advance is one of the most expensive ways to borrow, with high upfront fees and interest rates that start accruing immediately—meaning it should only be considered as a last resort, not for everyday use.
How to withdraw
There are three main ways you can get a cash advance from your credit card in Singapore:
ATM withdrawal
Insert your credit card into a major bank ATM that supports cash advance transactions.
Select “credit card” or “cash advance.”
Enter your PIN.
Choose your withdrawal amount (up to your available cash advance limit).
Collect your cash and receipt.
Mobile or internet banking
Log in to your bank’s mobile app or online banking platform.
Find the credit card/cash advance or cash transfer option.
Enter the transfer amount (within your cash advance limit).
Choose your account to receive the funds and confirm.
The cash is usually credited instantly or within a short timeframe.
Over-the-counter at a bank branch
Visit a branch of your credit card issuer.
Bring your credit card and a valid photo ID.
Request a cash advance at the counter and fill in any required forms.
Indicate your withdrawal amount.
Collect your cash once processed.
Regardless of method, the money you withdraw plus all applicable fees and interest will be added to your outstanding credit card debt.
Associated costs
Withdrawing cash using your credit card comes with several significant costs in Singapore:
Upfront transaction fees: Every cash advance incurs a service fee, often a percentage of the withdrawn amount or a minimum sum—whichever is higher.
High interest rates: Interest for cash advances is usually much higher than for everyday card transactions.
No interest-free period: Unlike standard purchases, interest starts accruing from the moment you withdraw cash—there is no grace period.
Possible extra charges: Additional fees may apply for overseas withdrawals, foreign currency transactions, or ATM network charges.
Lower limits: The maximum you can withdraw is usually much lower than your total credit card limit.
All these costs add up quickly, making cash advances an expensive form of short-term borrowing.
Alternative options
If you urgently need cash, consider alternatives like credit card loans, balance transfers, or instalment plans instead.
These options often come with lower interest rates, fixed repayment schedules, and lower overall costs compared to standard cash advances.
Always review and compare the terms to find a borrowing method that best suits your needs and repayment ability.
Should you use a cash advance?
The best approach depends on your situation:
If you’re a local Singapore resident dealing with an unexpected expense, it’s worth exploring your options for personal loans, instalment plans, or even speaking to your bank before taking a cash advance.
If you’re a visitor in Singapore needing cash for card-unfriendly places, be aware that you may face extra fees, foreign currency conversion charges, and unfavourable exchange rates on top of the usual cash advance costs.
Whenever possible, reach out for guidance tailored to your circumstances. Using a cash advance should always be a last resort due to its high fees and interest—explore other, more affordable ways of borrowing first.
