Magnus International Cash Withdrawal

[alphamagnus]

What are the charges for withdrawing cash abroad on Magnus?

 

[Max]

Magnus doesnot have any charges for cash withdrawals, see below Information from Axis MITC




However, please be careful that ATMs may levy a withdrawal charge, in my experience that comes up on the ATM screen and you have to accept the charge before you proceed. Sometimes in touristy areas there might be sketchy ATMs which will levy a charge but not show a
message about it, this used to happen much more commonly about till 5 yrs ago - so please be aware and on the lookout.

 

[Max]

Also do note that whenever you withdraw cash from a CC, you start incurring interest from day of withdrawal itself.

 

[gurbina]

Also do note that whenever you withdraw cash from a CC, you start incurring interest from day of withdrawal itself.

This. Surprise fees! It was misleading! Always read the small letter.

I was like awesome, I can withdraw money without need to deal with TCS being charged on withdrawals from debit cards/forex cards or exchanging money.
Sadly the reality is different.

 

[rammahajan]

This. Surprise fees! It was misleading! Always read the small letter.

I was like awesome, I can withdraw money without need to deal with TCS being charged on withdrawals from debit cards/forex cards or exchanging money.
Sadly the reality is different.

what would happen if I credit the same amount of money to Magnus at the same time? Do I have to pay interest for 1 day?

 

[gurbina]

what would happen if I credit the same amount of money to Magnus at the same time? Do I have to pay interest for 1 day?

I might have been charged some interest in the past but didn't notice it as it's fairly small amounts "pocket cash". I did try recently and paid it the same day, so I've yet to see if I will be charged any interest for it.

 

[RkrRkr is verified member.]

what would happen if I credit the same amount of money to Magnus at the same time? Do I have to pay interest for 1 day?

System does not differentiate whether your paid amount is towards your cash withdrawal or towards your current outstanding. Sysytem count it towards payment of current outstanding so if you are withdrawing cash and want to avoid interest on the same then after withdrawing cash clear all current outstanding on your card for same month.

 

[Deathsnatcher]

Also do note that whenever you withdraw cash from a CC, you start incurring interest from day of withdrawal itself.

Are we discussing regarding magnus? i thought cash withdrawals from magnus are charge free

 

[RkrRkr is verified member.]

Are we discussing regarding magnus? i thought cash withdrawals from magnus are charge free

If i got it correctly then only Cash advance fee is zero. But if you withdraw today and pay after bill generation then you have to pay the interest.

 

[Deathsnatcher]

If i got it correctly then only Cash advance fee is zero. But if you withdraw today and pay after bill generation then you have to pay the interest.

Is it so? i thought if i dont pay within due date only then i have to pay interest
has anyone took cash withdrawal and confirmed ?