quasi cash? anyone know what it is?

Discussion in 'Credit Talk' started by MT, Sep 25, 2001.

  1. MT

    MT Well-Known Member

    On another thread I noted that the terms of my agreement include something called Quasi Cash.

    Okay, in the terms I noticed something called Quasi Cash and a fee associated with it. It was near the cash advance fee information. Any idea what this is?

    3.5.c: Quasi Cash: 4% ($20 minimum)
  2. the other

    the other Well-Known Member

    I think it may be referring to travelers check and such that are not directly cash, but indirectly.
  3. MT

    MT Well-Known Member

    Thanks Other.

    I just called BOA to ask - the rep. said Quasi Cash is a cash advance that occurs at a Casino. I guess that some of the machines are not ATMs and do not require a PIN.
  4. MT

    MT Well-Known Member

    A better definition (the other, you are correct too):

    When your credit card account is used for the purchase of money orders, travelers checks, foreign currency, lottery tickets, casino chips, vouchers redeemable for cash, or racetrack wagers, a cash fee of 4% of the amount of each transaction is applied or $20.00 (minimum). These transactions are known as quasi cash transactions.

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