A note on cash advances


I asked my Paris bank about travelers’ checks and they told me that since they are paper and must be shipped while other transactions are carried on electronically, they have to charge more for the travelers’ check transactions. My young lady at the bank said they are just too much trouble in this electronic age.

Secondly, I made a foolish mistake a few months ago. I have two Visa cards, one a Chase/Continental credit card and one a debit card at my brokerage firm, and I accidentally used the credit card for a cash advance.

I had a credit balance of over $1,000, since I knew I would be away several weeks and did not want late charges. I cashed about $200, and I was charged the exorbitant rate for a cash advance.

Visa told me that a cash advance was one thing and a credit balance was another. I had naively assumed that the advance would be deducted from the large amount in my credit balance. Not so! I paid a hefty price for that error. Be warned.

ABBIE F. SALNY

Wayne, NJ