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#2207092 - 02/26/19 02:44 PM Cash Advance Limit
JoAnne Offline
Platinum Poster
Joined: Feb 2001
Posts: 795
Michigan
Do VISA/MC prescribe limits on cash advances done through a teller at a Bank? For example, we have a customer who has their Social Security deposited into a debit card. They come into the bank every month and do a cash advance off the debit card and deposit into their account here at the bank. (Customer refuses to have SS direct deposited into account).

We limit the cash advances to $1,500 per day. Retail is asking if this is VISA/MC limit or our bank policy?
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Operations Compliance
#2207097 - 02/26/19 02:59 PM Re: Cash Advance Limit JoAnne
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,923
Galveston, TX
Are you referring to an actual preloaded government benefit card rather than a debit card?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2207102 - 02/26/19 03:26 PM Re: Cash Advance Limit JoAnne
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,365
Illinois
It must be bank policy since your policy is in violation of Mastercard Transaction Processing Rules regarding prepaid cards.

4.14 Mastercard Manual Cash Disbursement Transactions

In the U.S. Region, the Rule on this subject is modified as follows: Subject to compliance with the Standards, each Customer within the United States Region must provide cash disbursement services to all Cardholders at all of the Customer’s offices where teller services are provided.

4.14.2 Maximum Cash Disbursement Amounts In the U.S. Region, the Rule on this subject is replaced with the following:

A Customer and each of its authorized cash disbursement agents may limit the amount of cash provided to any one Cardholder in one day at any individual office. Any such limit must be uniformly applied to all Cardholders of the same Card type. With respect to prepaid Cards, the limit must not be less than USD 5,000 per Cardholder in one day. With respect to all other Card types, the limit must not be less than USD 1,000 per Cardholder in one day.
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