Ever found yourself in a tight spot, needing cash, and staring at your American Express card, wondering, "How do I get money off this thing?" You're not alone! While American Express cards are renowned for their rewards and purchase power, using them for cash can be a bit different from your standard debit card. It's crucial to understand the process and, more importantly, the costs involved before you proceed. This comprehensive guide will walk you through everything you need to know about getting money off your American Express card, step by step.
Step 1: Understand the Nature of Cash Advances (and Their Costs!)
Before we dive into the "how-to," let's talk about the what and why not. When you use your American Express card to get cash, you're performing what's known as a cash advance. Unlike a regular purchase where you pay later, a cash advance is essentially a short-term loan against your credit limit.
What Makes Cash Advances Different?
Immediate Interest Accrual: This is perhaps the most critical difference. With typical credit card purchases, you often get a grace period (usually 20-25 days) where you won't be charged interest if you pay your statement balance in full by the due date. Cash advances, however, start accruing interest immediately from the moment you withdraw the money. There's no grace period.
Higher Interest Rates: The Annual Percentage Rate (APR) for cash advances is almost always significantly higher than the APR for regular purchases. We're talking about rates that can easily exceed 25% or even higher.
Cash Advance Fees: On top of the high interest, American Express (and most credit card issuers) will charge you an upfront fee for each cash advance transaction. This fee is typically a percentage of the amount withdrawn (e.g., 3% to 5%), with a minimum flat fee (e.g., $5 or $10), whichever is greater. So, even a small withdrawal can incur a notable charge.
ATM Fees: If you use an ATM not owned by American Express or a partner bank, you might also incur additional ATM operator fees.
Impact on Credit Score: While not a direct hit like a missed payment, a cash advance can increase your credit utilization ratio (the amount of credit you're using compared to your total available credit). A high utilization ratio can negatively impact your credit score as it suggests a higher risk to lenders. Furthermore, if the high costs make repayment difficult, it could lead to missed payments, which will hurt your score.
Think of a cash advance as a last resort. It's a very expensive way to get cash and should only be considered when you've exhausted all other, more affordable options.
Step 2: Confirm Your Eligibility and Limits
Not all American Express cards offer cash advance capabilities, and even if yours does, there will be limits.
How to Check Eligibility and Limits:
Review Your Cardmember Agreement: This document, provided when you received your card, contains all the specific terms and conditions, including whether cash advances are allowed and their associated fees and interest rates.
Log In to Your American Express Online Account: Your online account portal or the Amex mobile app is an excellent resource.
Look for sections related to "Cash Advance," "Express Cash," or "ATM Access."
Your available cash advance limit (which is typically a portion of your overall credit limit) should be displayed here. If you don't see this option, your card might not be eligible.
Contact American Express Customer Service: If you're still unsure, the quickest way to get definitive answers is to call the customer service number on the back of your card. They can confirm your eligibility and tell you your exact cash advance limit and any associated fees.
It's crucial to know your limits so you don't attempt to withdraw more than is allowed, which could lead to a declined transaction.
Step 3: Set Up Your PIN (if you haven't already)
To withdraw cash from an ATM, you'll need a Personal Identification Number (PIN). If you don't already have one set up for your American Express card, you'll need to do so.
How to Obtain or Set Your PIN:
Online Account/Mobile App: Many card issuers allow you to request or set a PIN directly through your online account or mobile app. Look for options like "Manage Card PIN" or "Request PIN."
By Phone: Call American Express customer service. They can guide you through the process of setting up a new PIN or retrieving an existing one. For security reasons, a new PIN is usually mailed to you and may take a few business days to arrive.
Physical Mail: In some cases, your PIN might have been sent to you automatically when you received your card, in a separate mailing for security.
Remember to keep your PIN secure and never share it with anyone. When entering your PIN at an ATM, always shield the keypad with your hand to prevent others from seeing it.
Step 4: Locate a Compatible ATM
Once you have your PIN and understand the costs, you need to find an ATM that accepts American Express for cash advances.
Finding an Amex-Compatible ATM:
American Express ATM Locator: American Express provides an online ATM locator tool on their website (
network.americanexpress.com/en/atm_locator ATM Network Logos: Look for ATM machines that display the American Express logo or the logos of networks that partner with Amex (e.g., Plus, Cirrus, Accel, Star). While Amex has its own network, many ATMs that are part of other major networks will also accept Amex cards.
Be aware that not all ATMs accept all types of credit cards, so checking beforehand can save you time and frustration.
Step 5: Performing the Cash Advance at an ATM
The process for withdrawing cash from an ATM with your American Express card is similar to using a debit card, but with a few key differences.
Step-by-Step ATM Withdrawal:
Insert Your Card: Insert your American Express card into the ATM's card slot. The ATM will usually display a diagram showing the correct orientation.
Enter Your PIN: When prompted, enter your four-digit PIN. Again, shield the keypad for security.
Select "Withdrawal" or "Cash Advance": The ATM will present various transaction options. Select the "Withdrawal" option. For credit cards, this option might be specifically labeled as "Cash Advance."
Choose "Credit Account": Some ATMs may ask you to choose between checking, savings, or credit. Select the "Credit" option.
Enter Desired Amount: Input the amount of cash you wish to withdraw. Keep in mind:
ATMs often dispense cash in specific increments (e.g., $20 bills).
There will be daily withdrawal limits imposed by the ATM operator and your American Express card.
Do not exceed your available cash advance limit.
Confirm Fees: The ATM will likely display a message informing you of the cash advance fee (from American Express) and potentially an ATM surcharge. You will need to accept these fees to proceed.
Wait for Cash: The ATM will process your request and dispense the cash.
Retrieve Card and Receipt: Once the transaction is complete, do not forget to retrieve your cash, your American Express card, and the transaction receipt. The receipt is important for your records.
Step 6: Explore Alternatives (and Consider Them First!)
Given the high costs associated with cash advances, it's always advisable to explore other options before resorting to this method.
Better Ways to Get Money (or Avoid Needing Cash):
Use Your Credit Card for Purchases Directly: For most transactions, using your American Express card directly for purchases is far more economical. You'll avoid cash advance fees and benefit from the grace period for interest-free repayment.
Debit Card for ATM Withdrawals: If you need cash, withdrawing from your checking or savings account with a debit card is the most cost-effective method as it's your own money and typically doesn't incur interest or significant fees (beyond potential out-of-network ATM charges).
Personal Loan: For larger cash needs, a personal loan from a bank, credit union, or online lender can offer significantly lower interest rates than a cash advance, especially if you have good credit. However, it takes time to apply and receive funds.
Borrow from Friends or Family: While it can be awkward, borrowing from trusted individuals can save you from high interest and fees. Just be sure to have a clear repayment plan to maintain good relationships.
Paycheck Advance (from Employer): Some employers offer paycheck advances, which can be a lifeline in emergencies. This is essentially borrowing against your next paycheck.
Emergency Savings: The best defense against needing expensive cash advances is to build an emergency fund. Even a small amount can provide a buffer for unexpected expenses.
"Pay It Plan It" (for Amex Credit Cards): If you have an American Express credit card with the "Pay It Plan It" feature, you might be able to create a payment plan for eligible purchases with a fixed fee, which can be a more manageable way to pay off expenses than carrying an interest-accruing balance or taking a cash advance. This isn't cash, but it offers payment flexibility. *
Step 7: Repay the Cash Advance Promptly!
Because interest starts accruing immediately and at a high rate, it is critical to repay your cash advance as quickly as possible.
Repayment Strategies:
Pay More Than the Minimum: Always aim to pay off the entire cash advance balance, not just the minimum payment. The longer the balance remains, the more interest you'll accrue.
Target Highest Interest First: If you have other balances on your card, payments exceeding your minimum due are typically applied to the highest interest-bearing balances first, which would include your cash advance.
Consider a Balance Transfer (if applicable): While not for cash advances directly, if you have other high-interest debt, a balance transfer to a card with a 0% APR introductory period could help, but be mindful of balance transfer fees.
Frequently Asked Questions (FAQs)
How to check my American Express cash advance limit?
You can check your American Express cash advance limit by logging into your online American Express account or through the Amex mobile app. It's usually listed under your account details or within the "Cash Advance" or "Express Cash" section. Alternatively, you can call American Express customer service directly.
How to get a PIN for my American Express card for cash advances?
You can typically request or set a PIN for your American Express card through your online account or mobile app. If those options aren't available or you prefer, you can call American Express customer service, and they will assist you in setting up or retrieving your PIN, which is often mailed to you for security reasons.
How to find an ATM that accepts American Express for cash advances?
Use the official American Express ATM locator tool on their website (
How to avoid high fees on American Express cash advances?
The best way to avoid high fees is to avoid cash advances altogether. If you absolutely must get cash, ensure you know the fees beforehand and withdraw only what's necessary. Prompt repayment is key to minimizing interest charges. Consider alternatives like debit card withdrawals or personal loans.
How to pay back an American Express cash advance quickly?
Pay back the entire cash advance amount as soon as possible. Since interest accrues immediately, the faster you pay it off, the less you'll owe in interest. Always aim to pay more than the minimum payment due.
How to know if my American Express card is eligible for cash advances?
Refer to your original Cardmember Agreement or log into your American Express online account/mobile app. Look for information regarding "Cash Advance" or "Express Cash." If you don't find the information there, contact American Express customer service for a definitive answer.
How to calculate the cost of an American Express cash advance?
The cost will include a cash advance fee (e.g., 3-5% of the amount, with a minimum flat fee, whichever is greater) plus interest that starts accruing immediately at a higher APR than purchases. You'll also pay any ATM operator fees. Multiply the amount by the percentage fee, add the minimum flat fee if applicable, and then factor in the daily interest rate for the number of days until repayment.
How to tell the difference between a cash advance and a regular purchase on my Amex statement?
Cash advances will typically be listed separately from regular purchases on your American Express statement. They might be categorized as "Cash Advance," "Express Cash," or a similar designation, often with their own associated interest rate and fees clearly noted.
How to prevent accidental cash advances?
Be mindful when using your American Express card at ATMs; ensure you're performing a purchase transaction if that's your intention. Also, be aware that some "cash-like" transactions, such as buying lottery tickets, casino chips, or certain money transfers, can be treated as cash advances by your issuer.
How to find alternatives to American Express cash advances?
Consider using your debit card for ATM withdrawals from your bank account, applying for a personal loan, borrowing from friends or family, or asking your employer for a paycheck advance. For purchases, always use your American Express card directly to avoid cash advance fees and benefit from the interest grace period.
