Deposit to CFD account - charged a ‘cash transaction fee’ by credit card

[Ryds1971]

Hi, 

I made two deposits of £5k to my CFD account and was charged £199.50 both times, any idea why? Seems very harsh and way to much.  

 

[BigDeal]

You'll probably find your credit card company has classed this as a cash advance.  You also need to watch out as they may charge additional interest from the day of the transaction

You may have learnt the hard way unfortunately, but for future deposits the best way is using debit card or bank transfer.

[Ryds1971]

Thanks for response. You are absolutely correct, I won’t be doing that again. 

[KoketsoIG]

On 30/12/2023 at 16:01, BigDeal said:

You'll probably find your credit card company has classed this as a cash advance.  You also need to watch out as they may charge additional interest from the day of the transaction

You may have learnt the hard way unfortunately, but for future deposits the best way is using debit card or bank transfer.

Hi @BigDeal,

Happy New Year and thank you so much for the response to this thread by @Ryds1971. This is correct.

All the best

KoketsoIG