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Email this10:01 pm
November 9, 2025
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I have one of each that we don't really use. I know that MC will charge you as a cash withdrawal if you use it for purchasing a Lottery ticket, don't think Visa does. But what if you maintain a positive balance? Decided to try an experiment. Loaded each up with $200.00. They stayed in a positive balance for several months. Then I went to an ATM from each bank & withdrew $20 cash. BMO MC immediately charged me $5 for the cash withdrawal even though the card had no charges and had been in a positive balance for several statement periods. They charged me a fee even though they held my cash interest free for months. Scotia Visa did not charge me for the cash withdrawal. It had been used a couple times in the last few months, but balance never went below a $170 positive balance. Interesting. Assuming BMO states it buried somewhere in their T&C, but who reads those?
8:53 am
April 6, 2013
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Any advance of funds is a cash advance under the BMO cardholder agreement. It doesn't matter if a cash advance doesn't result in borrowing and interest being charged:
cash advance means an advance of money from us that is charged to the account. We treat cash-like transactions, balance transfers and purchases using cheques the same as cash advances
cash-like transactions mean transactions involving the purchase of items that are similar to and/or can be converted into cash. Cash-like transactions include but are not limited to: wire transfers, money orders, travellers cheques, casino gaming chips and gaming transactions (including betting, off-track betting,race track wagers and lottery tickets)
