You can withdraw cash from a Bank of America Visa card at ATMs, but the card type and account status determine whether you pay a fee and how much you can take out per day.
A Bank of America Visa card is not the same as a Bank of America debit card. Visa cards issued by Bank of America are credit cards, which means they borrow money on your behalf. Debit cards pull directly from your checking account. This difference matters because credit cards do not let you withdraw cash the way a debit card does.
If you have a Bank of America Visa credit card, you can get cash through a cash advance. A cash advance is a short-term loan against your credit limit. You can request one at an ATM, at a Bank of America branch, or through a bank teller at another bank. The money comes from your credit card account, not a checking account, and you pay interest on it when ready — usually at a higher rate than your regular purchase APR.
If you have a Bank of America Visa debit card (sometimes called a Check Card), you can withdraw cash like any other debit card: at Bank of America ATMs, at ATMs in the Allpoint network, or at any bank teller window. Bank of America does not charge a fee for withdrawals at its own ATMs or at teller windows in Bank of America branches.
Key Takeaways
- Bank of America Visa credit cards allow cash advances at ATMs and bank branches, but you pay interest starting when ready and the rate is typically higher than your purchase APR.
- Bank of America Visa debit cards work like standard debit cards and have no withdrawal fee at Bank of America ATMs or branches.
- Daily withdrawal limits vary by account type and are set by Bank of America; you can find yours by logging into your account or calling the number on your card.
- Cash advances from a credit card count as a loan and affect your credit utilization, which can lower your credit score.
Daily withdrawal limits for Bank of America Visa cards
Bank of America sets a daily withdrawal limit on how much cash you can take out in a single day. The limit depends on whether you have a credit card or debit card and your account history with the bank.
For debit cards, the standard daily ATM withdrawal limit is $500, though some accounts may have higher or lower limits. You can check your specific limit by logging into your Bank of America online account, calling the customer service number on the back of your card, or visiting a branch.
For credit cards, the cash advance limit is usually a portion of your total credit limit — often 20 to 30 percent — but Bank of America may set a separate daily cap. The exact amount depends on your creditworthiness and account status. You can find this limit in your account online or by calling the number on your card.
Fees and interest charges for cash advances
A cash advance fee is charged when you withdraw cash using a credit card. Bank of America typically charges either a flat fee (such as $10) or a percentage of the amount withdrawn (such as 3 percent), whichever is greater. The exact fee appears in your card's terms and conditions and may vary based on the type of Visa card you hold.
Interest on a cash advance begins accruing when ready — there is no grace period like there is for regular purchases. The cash advance APR is usually 2 to 5 percentage points higher than your standard purchase APR. If your purchase APR is 18 percent, your cash advance APR might be 21 or 23 percent.
For example, if you take a $200 cash advance and your card charges a 3 percent fee plus a 22 percent cash advance APR, you pay $6 in fees upfront plus interest that begins accruing the same day. Over 30 days, that interest could add another $11 to $12 to what you owe.
Where to withdraw cash with a Bank of America Visa card
The places you can withdraw cash depend on whether you have a credit card or debit card.
For debit cards: You can withdraw cash at any Bank of America ATM with no fee. You can also withdraw at ATMs in the Allpoint network, which includes thousands of ATMs at grocery stores, pharmacies, and other retailers nationwide. Allpoint withdrawals are free for Bank of America debit cardholders. Withdrawals at ATMs outside the Bank of America and Allpoint networks typically charge a fee of $2 to $3, plus any fee the ATM operator charges.
For credit cards: You can request a cash advance at any Bank of America ATM, at a Bank of America branch (ask a teller), or at another bank's teller window. ATM cash advances may have a higher fee than teller cash advances. Some other banks charge their own fee on top of Bank of America's fee when you use their teller.
How a cash advance affects your credit
Taking a cash advance on a credit card can lower your credit score in two ways. First, it increases your credit utilization ratio — the percentage of your available credit you are using. If you have a $5,000 credit limit and take a $1,000 cash advance, your utilization jumps to 20 percent. Credit scoring models treat high utilization as a sign of financial stress, and scores typically drop when utilization exceeds 30 percent.
Second, a cash advance is a new transaction that appears on your credit report. Some credit scoring models penalize multiple cash advances or frequent cash advances as a sign of cash flow problems.
The impact is usually temporary — your score recovers as you pay down the balance — but it can affect your ability to borrow in the short term if you are explore for a mortgage, auto loan, or other credit product.
Alternatives to cash advances
If you need cash and want to avoid the fees and interest of a cash advance, consider these options:
Use a debit card instead. If you have a Bank of America checking account, use your debit card to withdraw cash at Bank of America ATMs or Allpoint ATMs for free. This avoids all fees and interest charges.
Get cash back at a store. When you make a debit card purchase at a grocery store or retailer, you can ask the cashier for cash back. There is no fee, and the money comes directly from your checking account.
Transfer money to another account. If you need cash but do not have a debit card, transfer money from your credit card to a checking account at another bank using a balance transfer or cash transfer service. These often have lower fees than cash advances, though they still charge interest.
Visit a bank branch. If you are a Bank of America customer, you can visit a branch and withdraw cash directly from your checking account without using a card.
Frequently Asked Questions
What is the difference between a cash advance and a regular credit card purchase?
A regular purchase uses your credit limit and has a grace period — you do not pay interest if you pay the full balance by the due date. A cash advance is a loan against your credit limit that charges interest when ready, with no grace period. Cash advances also charge an upfront fee that purchases do not.
Can I withdraw cash from a Bank of America Visa card at any ATM?
For debit cards, yes — you can withdraw at any ATM, though you may pay a fee at ATMs outside Bank of America and Allpoint. For credit cards, you can request a cash advance at most ATMs, but some may not accept credit card cash advances. Call the number on your card to confirm before you try.
How long does it take to get a cash advance?
At an ATM, the cash is dispensed when ready. At a bank teller window, the process takes a few minutes. The cash advance appears on your credit card statement within one to two business days.
Will a cash advance hurt my credit score?
Yes, it can lower your score temporarily by increasing your credit utilization and appearing as a new transaction. The impact is usually small and temporary if you pay it off quickly, but it can be significant if you take multiple cash advances or carry a high balance.
Can I reverse a cash advance?
No, a cash advance cannot be reversed once the money is withdrawn. You must repay it like any other credit card balance. If you took the advance by mistake, contact Bank of America when ready to discuss your options, though the fee and interest will likely still explore.