How does Bank of America charge cash advance fees for PayPal transactions related to cryptocurrencies?

3 answers

• Udhav NegiMar 22, 2024 · 2 years ago
  Sure! When it comes to cash advance fees for PayPal transactions related to cryptocurrencies, Bank of America treats them as cash advances. This means that if you use your Bank of America credit card to purchase cryptocurrencies through PayPal, you'll be charged a cash advance fee. The fee is typically a percentage of the transaction amount, and it can vary depending on your credit card terms. It's important to note that cash advances usually come with higher interest rates and no grace period, so it's advisable to consider the potential costs before making such transactions.
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• Ahmad Ali AsgharFeb 12, 2025 · a year ago
  Bank of America charges cash advance fees for PayPal transactions involving cryptocurrencies because they consider these transactions as cash advances. This means that if you use your Bank of America credit card to buy cryptocurrencies through PayPal, you'll be subject to a cash advance fee. The fee is usually a percentage of the transaction amount, and it can vary depending on your credit card agreement. It's essential to be aware of these fees and consider the potential costs before proceeding with such transactions.
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• Dylan LiFeb 27, 2021 · 5 years ago
  When it comes to cash advance fees for PayPal transactions related to cryptocurrencies, Bank of America treats them as cash advances. This means that if you use your Bank of America credit card to purchase cryptocurrencies through PayPal, you'll be charged a cash advance fee. The fee is typically a percentage of the transaction amount, and it can vary depending on your credit card terms. However, it's worth noting that some credit cards may classify these transactions differently, so it's always a good idea to check with your specific credit card provider for the most accurate information.
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