Cash Advance Service Fee Policy

Policy Overview: As a licensed issuer of MasterCard and VISA, Border Federal Credit Union is required to make cash advances to MasterCard and VISA card holders. This requirement is non-discriminatory and includes both Border Federal Credit Union’s cardholders and other issuers’ cardholders.

A cash advance is an advance on a credit line using a credit card. In some instances, consumers may wish to draw against a debit card. Beginning January 1, 2019, Border Federal Credit Union will implement the following limits and fees associated with offering cash advance services:

Fee Schedule

MasterCard Cash Advance Limit (Debit or Credit Card)
$5,000.00

VISA Cash Advance Limit (Debit or Credit Card)
$5,000.00

Cash advances exceeding the limit above will require a manager’s approval with documentation of the exception, above fees will apply. Fees will be notated on the receipt separate from the transaction. The 16 digit card number, expiration date, and CVV will be documented for the transaction. Cash advances can only be performed in person to minimize financial losses in the dispute process.

BSA/OFAC Requirements: To comply with BSA and OFAC requirements and to reduce risk exposure, cash advances made to non-members will require the following information be obtained prior to completing the transaction:

• Full Name

• Gender

• Driver’s License Identification Information

  • ID Number, Issuing State, Issue Date, Expiration Date, Date of Birth, Address