FAB Credit Card Cash Withdrawal in UAE

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First Abu Dhabi or FAB Bank is named among the top financial organizations in the United Arab Emirates. It was primarily formed as a merger between the National Bank of Abu Dhabi(NBAD) and First Gulf Bank (FGB). The bank offers financial products, services, and solutions with its Investment Banking, Corporate Banking, as well as Personal Banking franchises. 

FAB credit card cash withdrawal is a golden feature offered by FAB bank to its customers. With this service, you can use the FAB credit card to withdraw cash up to a fixed withdrawal limit assigned to you. It is a highly useful facility. Let's learn more about it in detail!

FAB Credit Card Cash Withdrawal Limit and Charges

If you want to know how much you can safely withdraw using your FAB credit card, then you'll have to check the FAB credit card cash withdrawal limit. This limit is assigned to you by your card company by taking into account various factors like your age, type of card, type of account, annual salary, credit score, and so on. Also, this limit is flexible and can be increased or decreased based on certain conditions. 

FAB credit card cash withdrawal charges, are the charges that are associated with credit card cash advance transactions. These include the cash advance fee FAB and the interest fee or finance charges. You have to pay a small portion of your total withdrawal amount to the FAB bank. The cash advance fee for FAB credit cards is 3.15% or AED 150 ( whichever is higher). Moreover, the interest rate for cash withdrawal transactions using FAB credit cards is 3.50%. Note that these charges can be different for different credit cards and customers. So, make sure to confirm with your FAB  bank representative. 

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Advantages & Disadvantages of FAB Credit Card Cash Withdrawal Facility

Everything comes with advantages and disadvantages in equal amounts, and the FAB credit card cash withdrawal facility is no exception. No doubt it is a very helpful feature during times of cash crunch, it can be quite expensive when used irresponsibly. Let's see some other pros and cons of the FAB credit card cash withdrawal procedure!

Advantages of FAB Credit Card Cash Withdrawal 

Following are the main advantages of the FAB credit card cash withdrawal procedure:

  • Immediate Cash: Withdraw cash anytime, anywhere using your credit card and save yourself from financial emergencies. 
  • No Approval Required: You can withdraw cash within your credit card limit without seeking any approval or permission from the bank. 
  • 24x 7 Availability: Because ATMs are open 24x7, you don't have to wait to withdraw credit card cash

Disadvantages of FAB Credit Card Cash Withdrawal 

Following are some of the main disadvantages of using the FAB credit card cash withdrawal feature:

  • Comes with higher finance charges or interest rates. 
  • Includes higher cash advance or withdrawal fee. 
  • May negatively impact your credit score. 
  • Can push you into debt if not used responsibly. 

FAB Credit Card Cash Withdrawal Process

FAB credit card cash withdrawal process is simple and works just like a normal ATM withdrawal process. All you need to do is follow the simple steps mentioned below:

  • Locate and visit any FAB Bank ATM. While you can use your credit card at any ATM, you may have to deal with high transaction charges when using another bank's ATM. Therefore, it is advisable to use the same ATM as your credit card. 
  • Insert your FAB credit card into the ATM slot. 
  • Choose your preferred language. 
  • Choose the Cash Withdrawal option from the screen. 
  • Select your account type. 
  • Fill in your secret PIN. 
  • Collect cash!

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That's all about the FAB credit card cash withdrawal feature. To use this option responsibly, without impacting your credit score, always pay your outstanding amount at the earliest and keep this option as a last resort to arrange cash in an emergency.  

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