Credit Card Encashment at Al Ansari Exchange- have you used this? | ExpatWoman.com
 

Credit Card Encashment at Al Ansari Exchange- have you used this?

61
Posts
EW NEWBIE
Latest post on 25 June 2014 - 17:56

AAE offers a CC Encashment facility that allows you to use your CC to make a transfer. Basically, they withdraw the amount from your card and then make the transfer so you can even keep some money back. My question to anyone who has used this service, how does the transaction appear on your CC statement? I'm hoping to hear from somebody who has actually used the facility. TIA!
<em>edited by lookin4inspiration on 25/06/2014</em>

4423
Posts
EW MASTER
Latest post on 26 June 2014 - 11:41
Is it a cash advance??? Not a merchant transaction (purchase)??? That's what I need to know. TIA Yes I would definitely say it is - any money withdrawn as cash from your cc is a cash advance - and charged at a much higher rate of interest.
61
Posts
EW NEWBIE
Latest post on 26 June 2014 - 10:39
Is it a cash advance??? Not a merchant transaction (purchase)??? That's what I need to know. There's an article on today's National about remit2india.com which allows you to basically do the same thing but online. Question to anyone who has used this- does it appear as a cash withdrawal or merchant transaction? TIA
4747
Posts
EW MASTER
Latest post on 25 June 2014 - 21:08
AAE offers a CC Encashment facility that allows you to use your CC to make a transfer. Basically, they withdraw the amount from your card and then make the transfer so you can even keep some money back. My question to anyone who has used this service, how does the transaction appear on your CC statement? I'm hoping to hear from somebody who has actually used the facility. TIA! edited by lookin4inspiration on 25/06/2014 isnt that just a cash advance on your credit card and so then would be much higher rate.
 
 

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