Meaning of “cash advance” in the English Dictionary

"cash advance" in Business English

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cash advancenoun [ C ]


an amount of money that someone borrows and on which they start to pay interest as soon as they receive it. The rate of interest for this type of loan is usually higher than for other types of loan:

We can provide short term loans and cash advances until your next payday.

an amount of money that someone gets from a bank by using their credit card:

You will be charged a handling fee of 2.5% for cash advances on your card.

(Definition of “cash advance” from the Cambridge Business English Dictionary © Cambridge University Press)