Request For Cash Advance Letter Sample
Description
How to fill out Sample Letter For Cash Advances?
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FAQ
Purpose: The Request for Cash Advance form is used to request cash advances which will be issued at the discretion of the Financial Officer or Director of Finance & Business (hereafter FO). The Request for Cash Advance form is NOT to be used for travel advances.
A cash advance is a loan offered by your credit card issuer. When you take out a cash advance, you're borrowing money against your card's line of credit. You must repay this loan and the amount you transfer cannot exceed the current balance available on your credit card.
For example, if you take out $500 as a cash advance on a card with a 5% cash advance fee, you'll be charged $25 on top of the $500 loan. When you use a credit card for a purchase, most lenders give you a grace period to repay the balance before interest starts to accrue.
I am writing this letter with the utmost respect in order to request you for advance cash payment. I need this for _______ (Reason) and it is getting difficult for us to carry out expenses. I request you to kindly make a payment of ______ (Amount) as an advance payment.
Cash advance fee: Your card issuer often charges a cash advance fee, which is typically 3% or 5% of the total amount of each cash advance you request. For example, a $250 cash advance with a 5% fee will cost you $12.50.
