Overview
Credit card is one of the facilities issued by the banks to their clients which allow them to borrow money or funds from the bank to make purchase of goods or services without using money. But what if the store you are purchasing from does not have POS terminal or credit card terminal? Or what if you are in an emergency situation needing cash on hand? Well, thanks to the Cash Advance feature of credit cards, you may now withdraw cash from ATM using your credit card. First, let’s define what a Cash Advance is.
What is Cash Advance?
Cash Advance feature allows the credit card holder to borrow cash in line with the existing card holder’s credit. Generally, you can only borrow cash up to the cash advance limit set in your credit card and not your total credit limit. This limits can be found stated in your monthly credit cart statement or you can contact your bank or credit card provider. This feature may have higher interest rates than a typical credit card purchase and may incur additional fees associated per transaction.
Cash advance does not work like a debit card in which your withdrawal will be deducted from your current cash deposit balance. Cash advance adds the amount of your withdrawal to your existing credit card balance.
Now that you know what a Cash Advance is, let’s access this feature using an ATM.
How To Withdraw Using Metrobank Credit Card
The succeeding topics primarily focused on using a Metrobank Credit Card, however, I believe that the ideas and principles behind these are almost similar to other banking facilities.
Step 1
First, go to the nearest Metrobank ATM branch and insert your Metrobank Credit Card to ATM card slot with the same orientation as shown below: (Smart chip is facing upward)
Step 2
The ATM will recognize your card as a credit card thus it will only display available transactions for this type of card similar to what is shown below. On this section, just choose and click the CASH ADVANCE option.
Step 3
Once the screen displays similar below, just input your PIN (Personal Identification Number) using the number keypad of the ATM.
Step 4
Then using the same number keypad, enter your desired amount to withdraw and just click the YES button to confirm.
Step 5
After confirming the amount you want to withdraw, the ATM will now process your transaction. Just wait until the ATM releases your Credit Card.
Step 6
Once the ATM releases your Credit card, just pull it out and wait for the dispense of your withdrawn amount.
Step 7
And Voila! Your cash advance has been dispensed. Gently pull out your money from the cash dispenser and verify the amount received.
Step 9
Then lastly, don’t forget to pick you receipt.
Frequently Asked Questions
Where Do I get the PIN?
The QuickPin or simply PIN of your Credit Card is usually sent to you through SMS by MCC (Metrobank Card Corporation). This is a 4-digit PIN which is sent few days after you have received and activated your Credit Card.
Where else can I withdraw or make Cash Advance from my Metrobank Credit Card?
Accessing the cash advance feature of Metrobank Credit card can be done through any Metrobank or PSBank ATM or any ATM with a Visa or Mastercard/Cirrus symbol.
How Much is the Payment for Using the Advance Cash Feature?
The Cash Advance fee of my Metrobank PESO Platinum Mastercard is PHP200 per transaction regardless of the cash advance amount. This may or not be the same for other Credit Cards of Metrobank as well as other bank’s Credit Cards.
What if I forgot My Credit Card PIN?
Metrobank has QuickPIN facility which allows you to get your card PIN via SMS to your registered mobile number. To report loss or request for a new PIN to be sent to your mobile number just reach the any of the following hotlines:
Metrobank
24-Hour Customer Service Hotline: (02) 88-700-700
Domestic Toll-Free Hotline: 1-800-1-888-5775
24-Hour VIP Customer Service Hotline: (02) 88-700-707
24-Hour VIP Concierge Service Hotline: (02) 88-700-777
Domestic Toll-Free Hotline: 1-800-10-8700-707
International Toll-Free: 800-8-700-0707
(Metrobank Platinum Mastercard, Metrobank World Mastercard
and Metrobank Femme Signature Visa)
24-Hour PSBank Credit Mastercard Hotline: (632) 88-700-772
Domestic Toll Free: 1-800-10-8700-772
Final Thought
Remember that this Cash advance is a loan from your bank which is added on top of your credits of your Credit card. So please be careful on making cash advance from your credit card. This feature of your credit card should not be abused and should only be used in cases of emergency or during “Petsa de Peligro“.
Just a piece of advice in using your the Cash Advance feature of you credit card: Just borrow as little as possible and pay it off as fast as you can. This feature may seem the last resort and a quick fix when you are in a tight financial situation, however, this can be an expensive way to pay for financial emergencies as the accompanying fees and charges might be more of a troublesome if you keep on relying on this feature. Thus it is important to fully understand how this Cash Advance works as well as its fees and charges and use them responsibly. It would be better to assess first all other alternatives prior resorting to using this feature like borrowing from friends or family which do not offer interest. Just bear in your mind to pay them back on time or the soonest you get hold of you payment money so you won’t be betraying their trust.
Now that you know how to access the Cash Advance feature of your Metrobank Credit Card, here’s the other guidelines to access other features of your Metrobank Account:
How To Cash In To GCash Using Your Metrobank App
How To Withdraw From Metrobank’s ATM Without Using ATM Card
How To Pay Your Pag-IBIG Mortgage Thru Metrobank Online
Salamat mga Ka-Butingting!
