Many users expressed discontent due to the lack of clarity regarding the commissions charged by banks for transferring funds using a credit card, known as "Quick Cash." They claim that some bank employees, upon request for information about this service, stated that transfers are not subject to fees; however, there is a fixed commission of about 1.75%, yet they discovered a monthly charge of 139 dirhams.
When they contacted customer service, they were told that this monthly payment represents compulsory fees for the "Cash" service. Users demand clear transparency regarding the commission for this service, especially considering that many turn to it in the event of needing small amounts instead of personal loans.
Financier Mohammed Ghazi noted: "Some banks offer free transfers (Cash) from credit cards during the first 10 days after receiving the card without any commissions, as part of periodic promotions. At the same time, some banks retain a fixed fee representing a certain percentage of the amount transferred by the user, without taking any additional monthly payments; during that time, some third-party banks charge a fixed fee for the transaction plus monthly fees."
He also emphasized that all these conditions depend on the policy of each bank, the amount of the transfer, the client's credit rating, and the selected repayment term, which usually does not exceed one year. Ghazi stresses the importance of requesting complete information about the commissions, conditions, and terms before agreeing to transfer funds from a credit card.
Financier Mohammed Salem added: "Usually, the request for a transfer (Cash) from a credit card is made immediately after receiving the card, as many prefer to have the possibility of transferring small amounts without the need to formalize a personal loan." He added that the user should clarify all the details in writing and specify the amount of the payment for the transaction and possible monthly fees.
He noted that the conditions for providing services may vary from bank to bank depending on their policies: some establish only the commission for the transaction, while others additionally charge monthly fees or establish only monthly fees. Salem advised applicants to ask for written details about the commissions.
