Error code 05 means that the cash advance function has not been activated. It is recommended that you call 4008205555 and enter your ID number, then select 9 to enter manual and the service staff will verify it for you.
The reasons for credit card cash advance failure are as follows:
1. The cash advance function is not activated.
2. The transaction password is wrong.
3. The amount of cash withdrawn exceeds the available cash withdrawal limit (exceeds the credit limit or daily cash withdrawal limit).
4. The automatic equipment fails or the network does not support it (for example, a credit card with the VISA logo cannot withdraw cash at an ATM with only the JCB logo).
5. Use a card that does not have the cash advance function to withdraw cash (such as a corporate debt-bearing commercial card).
Cash advance refers to the behavior of cardholders using their credit cards to withdraw cash through self-service terminals such as ATMs. It is one of the most basic functions of a credit card.
Although you can use a credit card to withdraw cash, please do not use the cash advance function in non-emergency situations because the cost of using a credit card cash advance function is very high.
1. There is no cash advance for using a credit card, and the calculation starts from the day when the cash is withdrawn;
2. The interest rate for cash advance is very high, 0.5% and it is calculated. 3. The handling fee is very high. The handling fee is generally more than 1% and is charged in one time. In addition, there are generally no bonus points for cash advances. In addition to these, there are limits on the amount of cash advances. For most people, the amount of cash advance is about 50%.
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1. Similar to cash advance, there is also cash advance installment. If you feel that the borrowed cash cannot be paid back in a short period of time. Then you can choose to borrow a cash advance in installments so that you only need to pay it back every month. However, a handling fee is charged for cash advance installments. Cash advances charge interest. The nature of the two is similar. They both transfer the available limit of the credit card to your own bank card.
2. Similar to cash advance, there is another way to withdraw cash from an ATM machine. However, when withdrawing cash from an ATM machine, in addition to charging a daily recurring interest of 0.5%, a cash withdrawal fee is also charged. So compared to the two, a cash advance loan is cheaper. Of course, if you don't need money urgently or use cash, you generally won't use this function. There are limits on cash advances and ATM withdrawals.
3. ATM cash withdrawals are generally up to 50% of the credit card limit, but cash advances can be up to 100%. This is also the reason why many banks’ credit card cash advances must be transferred to the bank’s savings card. The purpose is to monitor where the funds are going. And after using the cash advance for a period of time, the bank is likely to ask you to provide consumption vouchers.