The Wells Fargo brand has great significance and importance in the banking sector, and it feels like you own a great piece of history when you own a Wells Fargo card.
Using a credit card or withdrawing cash might not necessarily be the right thing to do because it comes at a cost, but you will be faced with a situation where knowing how to get a Wells Fargo Cash Advance will come in handy. Knowing about it makes you enjoy better service.
You must have an excellent idea of the Wells Fargo cash advance service, so you might know how to pay back the bank, but there are few tips we would like to share with you on how to go about this.
Trust me when I say these tips are easy and simple to follow, and we are nothing but happy to share some of these tips and tricks with you.
How To Get A Wells Fargo Cash Advance
The process of getting a cash advance from Wells Fargo isn’t as stressful and difficult as most people claim it to be, but what you are required to get is a PIN from Wells Fargo customer service. When creating a new PIN or requesting one, you have to contact the number behind your card to get your PIN.
You will get a PIN linked to your Wells Fargo card, making it possible for you to withdraw money from Wells Fargo ATMs. You can use this PIN and card anywhere in ATMs that support Wells Fargo cards for money withdrawal.
When withdrawing money, one of the questions that come to your mind is if there’s a withdrawal limit. The truth is every daily limit to the amount of cash a person can withdraw using the cash advance service.
You will be charged a certain fee for any of these transactions at an Annual Percent Rate, and this warrants you to check your Customer Agreement and Disclosure Statement. I
n addition, there are certain limits a credit card is issued, and you will not be able to withdraw further money once the limit has been reached. The easiest way to reach this limit is by withdrawing in five hundred’s without repaying the amount.
Wells Fargo Credit Card Cash Advance Fee
Just like we mentioned earlier, opting for the Wells Fargo cash advance comes with a certain fee. It is why you should only use the Wells Fargo cash advance service as a last resort. You will be charged for every cash withdrawal, which tends to be about ten or five percent higher.
It means you will pay about ten percent of every two hundred dollars you withdraw, but it will be a five percent fee if you withdraw above two hundred dollars.
You guessed right; this is a fixed fee. In addition, you must pay the rental percentage rate to the bank, which varies between 26.24 to 28.24 percent. It is where you need to check your Disclosure Statement And Customer Agreement.
Is Using Wells Fargo Cash Advance A Good Idea
The answer to this is YES, but there is a clause attached to it. You can opt to use the Wells Fargo option if you can pay back sooner, as it will help you save up some interest on your money.
This interest starts counting from the moment you make a withdrawal, but you might have a free period before the interest begins when you regularly use your card in making purchases. It is why you have to be prudent when using the Wells Fargo cash advance option.