Megan Brooks
The Bank of the West Cash Back World Mastercard® is a credit card offered by Bank of the West. It has a $0 annual fee and offers 3% cash back on many everyday purchases. The card is available to residents of 19 states and requires a good credit score of 650 or above. While the card does not charge a fee for cash advances, there is a foreign transaction fee of 3%, and some ATMs may have additional fees and restrictions.
| Characteristics | Values |
|---|---|
| Card Type | Mastercard |
| Card Name | Bank of the West Cash Back World Mastercard |
| Annual Fee | $0 |
| Cashback | 3% |
| Foreign Transaction Fee | 3% |
| Introductory APR | 0% for the first 15 months |
| Variable APR | 20.99%-27.99% |
| Balance Transfer Fee | 4% or $10 |
| Credit Score Requirement | 650 or greater |
| Cash Advance Fee | Yes |
| Cash Advance Limit | Depends on the available Cash Advance Credit Line |
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What You'll Learn
Bank of the West Cash Back Mastercard
The Bank of the West Cash Back Mastercard® is a credit card that offers 3% cash back on everyday purchases such as groceries, gas, TV streaming services, restaurants (including fast food and bars), and more. The card has no annual fee and is available to residents of 19 states, including California, New Mexico, North Dakota, South Dakota, and Washington.
One unique feature of this card is that it allows cardholders to redeem their cash back at any time as a statement credit or through direct deposit. However, redemptions can only be made in $25 increments, which may make it challenging to utilize all the earned cash back. For example, if you've accrued $65 in cash back, you can only redeem $50 immediately.
The Bank of the West Cash Back Mastercard® also offers an introductory APR of 0% for the first 15 months on purchases and balance transfers, followed by a variable APR of 20.99% to 27.99%. It's important to note that any balance transferred to this card will incur a balance transfer fee of 4% or $10, whichever amount is greater.
Additionally, this card is not ideal for international travel due to its 3% foreign transaction fee. If you frequently travel abroad, you may want to consider a different card that waives foreign transaction fees, such as the Capital One Savor Cash Rewards Credit Card.
To apply for the Bank of the West Cash Back Mastercard®, you can visit a branch in your eligible state or apply online. It is worth mentioning that this card typically caters to individuals with good credit scores of 650 or higher.
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Cash advance fees
A cash advance fee is what a credit card company charges you to make a cash advance. A cash advance lets you borrow cash from your credit card's credit line, up to your cash advance limit. This can be useful in emergencies or when you need to make a purchase that doesn't accept a credit card. However, it is important to note that a cash advance will likely incur a transaction fee and a high-interest rate, which can quickly accumulate and lead to high costs.
The transaction fee for a cash advance is typically a flat fee or a percentage of the transaction amount, whichever is greater. The average fee is around 4% of the amount withdrawn, but this can vary depending on the credit card company and how you access the cash. Some banks may charge a higher fee for using an ATM that is not affiliated with the card issuer. Additionally, there may be ATM owner fees and foreign transaction fees if you are withdrawing cash in another country.
It is important to review the terms and conditions of your credit card agreement to understand the specific fees and charges associated with cash advances. These fees can add up quickly, and it is generally recommended to avoid cash advances unless absolutely necessary. If you need to take out a cash advance, try to repay it as soon as possible to minimise the interest charges.
While a cash advance can provide fast access to cash, it is important to consider the high total cost, which can outweigh the benefits. There may be alternative options to access cash without incurring the same fees, such as through smaller institutions or credit unions. It is always a good idea to plan ahead and explore other sources of cash before resorting to a cash advance.
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ATM cash withdrawals
Bank of the West offers ATM services to its customers. While the bank does not specify any limits to cash withdrawals from ATMs, it does state that withdrawals from a time account before maturity or before any notice period may be restricted and may be subject to penalties.
ATMs from other banks may have additional fees and restrictions on cash withdrawals. For example, Bank of America does not charge its customers any fees for using its ATMs to withdraw cash, but it does specify that fees may apply when using a non-Bank of America ATM in the United States.
When using an ATM, you can generally customise your experience by setting a cash preference amount, a receipt preference, and a language preference. To withdraw cash, you will need to enter your PIN, and then select your desired withdrawal amount. Some ATMs will also allow you to choose the bill types for your withdrawal.
To access cash through an ATM, you will need a debit or credit card, and in some cases, a photo ID.
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Credit card funding
Some institutions that accept electronic funding may not allow credit card funding but may accept funding via debit card if the funds are in the cardholder's account. Credit card holders should review their card agreement to determine whether the card company considers credit card funding a cash advance. It is important to note that credit cards charge interest on the money spent, so it is recommended to pay off the credit card balance every month to avoid accumulating debt.
Bank of the West offers a Cash Back World Mastercard® with a $0 annual fee and a 3% cash-back category that covers many everyday purchases. This card is available to residents of 19 states and can be applied for online. However, it is not suitable for international travel due to its 3% foreign transaction fee.
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Foreign transaction fees
The Bank of the West Cash Back World Mastercard® has a foreign transaction fee of 3%. If you're looking for a card without foreign transaction fees, you might consider the $0-annual-fee Capital One Savor Cash Rewards Credit Card, which also offers elevated rewards on dining, groceries, and entertainment purchases. The HSBC Premier Checking account is another option that doesn't charge foreign transaction fees, and HSBC has a worldwide network of ATMs. The mobile-only banking app Varo also doesn't charge foreign transaction fees and has over 40,000 Allpoint® ATMs.
If you're making an international wire transfer with Bank of the West, you'll need to go to a branch in person. The Bank of the West exchange rate for international wire transfers is not specified online, and it's common for banks to use a marked-up version of the mid-market exchange rate, which can reduce the value of your money in a foreign currency.
To avoid foreign transaction fees, you can use a credit card that doesn't charge them or a multi-currency debit card from a fintech company. You can also withdraw larger sums of cash from local ATMs to minimize the number of transactions, though you should be mindful of potential ATM operator fees. A cash advance app like Gerald can also help you access instant cash advances with no fees, no interest, and no credit check.
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Frequently asked questions
The Bank of the West Cash Back Mastercard is a credit card that offers 3% cash back on many everyday purchases and has a $0 annual fee. It is available to residents of 19 states and requires a good credit score of 650 or greater.
You can get cash with your Bank of the West card through a cash advance into your checking account, at ATMs, or at banks and credit unions. Keep in mind that there may be additional fees and restrictions, and you may need to create a PIN for ATM transactions.
Yes, there is a cash advance transaction fee, and some ATMs may charge additional fees. It is recommended to check your Cardmember Agreement for specific information on fees and limits.
Yes, Bank of the West allows credit card funding up to a limit of $500. However, only Visa or Mastercard are accepted for credit card funding.
