cash advance fees

[fergal71]

Hi as anybody else noticed changes in cash advance fees, I use my cards to play poker online... crazy I know but recently they have begun to charge cash advance fees which is adding up too more than charges. Does anyone else have this and do you think they can be challenged???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

[howardbrown]

they are not a penalty charge, they are a fee for a service.

 

why don't you see if you can claim back the purchases you make aswell?

[fergal71]

which bank do you work for ???

[reidnet]

Only my personal opinion, but it has always been that way for many years with taking Cash Advances on Credit cards. The charge is a service charge.

 

I am not aware of anyone challenging this, but feel free to have a go. Though I think it will be a non starter..

 

Thats Just my opinion..

Ian

[Guest NATTIE]

Unfortunately I have to agree with Howardbrown, on this one unless you are willing to challenge them. I am sure some of the evening guys may have some suggestions

[Bailiffchaser]

It is worth challenging. I would do it myself but i usually get my money back if i loose on poker anyway.

[PhantomReclaimer]

Cash advance fee's cannot be reclaimed as they are a charge for a legitimate service - that of providing you with cash.

 

However, I'm not entirely sure that a "cash advance" fee is applicable to something like on-line gaming. They aren't, after all, actually providing you with physical cash. I would cheack your T's&C's to see what their definition of "cash" actually is.

 

P.

[bobtheb]

several credit card companys recently announced they would be charging withdrawals to on line gambling sites as cash:mad:

[meagain]

You might want to consider it. It is a legitimate service, after all, you requested the money, they provided it. The issues are:

 

* whether what they're doing is actually a "cash advance" or a "purchase" (will depend heavily on whether or not the gaming company calls its credit "goods")

* whether the fee is "fair and reasonable" (Supply of Goods and Services Act I think)

 

A fee of e.g. £2 for moving £10 is clearly not reasonable, though a fee of £2 for £100 is more reasonable. I have been double-checking my statements, and considering an addition to my PoC for this (I get the feeling that they will actually be longer than the rest of the N1 by the time I have everything for a super-claim, and various pieces might be struck out - my excuse to the judge is not wanting to burden the court with several claims).

 

Basically, this is an "either-way" issue. I would at least think about adding them on to a claim for penalties, but I personally wouldn't take a chance in trying to reclaim these fees by themselves.

 

As always, do your own reading, and if in doubt seek independent advice.

[gizmo111]

AFAIK you cannot gamble on credit and that is why they are classed as cash transactions - not sure of the technicalities and legalities of this though.

[chiefengineer]

You'll also get clobbered for Cash Advance Fees if you use a credit card to buy Currency at an airport...

 

Jeremy