HSBC Credit Card Cash Withdrawal

Can You Withdraw Cash from an HSBC Credit Card? 

Yes, you can easily withdraw cash from HSBC credit cards in the UAE. It works the same as a debit card —  simply swipe the card in an ATM and get the cash. You can choose the amount you need. Moreover, the cash is given instantly, making it a quick and convenient option in urgent situations. 

But there’s a catch! A certain amount is charged for this facility by the bank. So, it’s crucial to be familiar with the charges before using this cash withdrawal facility. 

What are the Charges on HSBC Credit Card Cash Withdrawal? 

The cash withdrawal facility with credit cards is not free like debit cards. HSBC charges a fee, which is the higher of 3% of the withdrawal amount or AED 100. 

It’s worth noting that you have to pay the charge every time you withdraw cash. Even if you’re making multiple withdrawals in a day, you’ll be charged each time as per the amount you withdraw. Moreover, if you are using this facility outside the UAE, you will incur an extra fee. 

Note: The cash withdrawal fees on HSBC cards may change over time. It’s advised to check the official site before using this facility. 

How to Withdraw Cash from HSBC Credit Card? 

It’s easy to withdraw cash from HSBC credit cards. You can use this just like how you access cash through your debit card — 

• Go to your nearest ATM with your HSBC card 
• Insert the card in the machine 
• Select the ‘Cash Withdrawal’ option 
• Mention the amount you want to withdraw 
• Enter your PIN
• Collect the amount 

Pros and Cons of HSBC Credit Card Cash Withdrawals

Here are the pros and cons of withdrawing cash from an HSBC card —

Pros

• Secure instant cash during emergencies from anywhere in the world
• Faster loan option than a typical secured loan 
• No documentation, waiting period, or approval 
• Withdraw 24/7 cash from ATMs in the UAE or even abroad 

Cons

• A fee is charged for each withdrawal 
• No grace period or interest-free days 
• No scope for earning reward points or cashbacks 
• Higher interest rate than other loan options 

Alternatives to HSBC Credit Card Cash Withdrawal

Consider the following smart alternatives to HSBC credit card cash withdrawal in the UAE —

Use the HSBC Debit Card 

If you need cash in the UAE, reaching for your debit card is usually the smarter move. This method allows you to use your own money. This means you can avoid the hefty interest rates and extra fees that come with withdrawals from credit cards. 

Plus, with HSBC ATMs all over the UAE, getting cash is quick and hassle-free. It’s an easy way to keep costs down, avoid unnecessary debt, and stay in control of your money — exactly how you’d want your finances to feel.

HSBC Cash Instalment Plan

When unexpected expenses pop up, you can also use the HSBC cash instalment plan. This is an excellent option if you want funds in a budget-friendly and smart way. 

If you’re eligible, you can transfer money from your HSBC card straight into your bank or savings account. Later, you can repay it in easy, fixed instalments. Unlike withdrawing cash from cards that start charging high interest immediately, you’ll know the exact fees and rates before you commit. 

You can use this facility through the HSBC UAE mobile banking app. It is transparent, convenient, and designed to help you handle cash needs without the financial sting of traditional withdrawals.

Final Words

While you can withdraw cash from an HSBC credit card, it’s best to use other facilities unless it’s a genuine emergency. Every transaction comes with interest charges or fees that can be higher than those of other forms of debt. Before considering this facility, check the latest charges and terms set by the HSBC bank. Understanding the actual limit and charges will help you make smarter, more informed financial decisions. It will also save you from the buildup of unnecessary debt.

Frequently Asked Questions