Definition

Noun: - An amount of money given or lent before it is earned or due: A "cash advance" is a sum of money provided to someone, typically against their future earnings, salary, or credit line, before the regular payment date or before the service is fully performed.

Usage

A "cash advance" is typically requested from an employer, a financial institution, or a credit card issuer. It is not a gift but a loan or an early payment that must be repaid or deducted from future income. - The employee requested a cash advance to cover emergency travel expenses. - Many credit cards allow you to get a cash advance at an ATM, but they often charge high fees.

Advanced Usage

• "to take out a cash advance": To obtain a cash advance.
  • I had to take out a cash advance on my credit card when my wallet was stolen.
• "cash advance fee": A specific charge levied for obtaining a cash advance.
  • Be aware of the cash advance fee and higher interest rate before using your card at the ATM.

Variants and Related Words

• Advance (noun): A general term for money paid before it is due or earned. "Cash advance" is a specific type of advance.
  • She received an advance on her book royalties.
• Payday loan (noun): A short-term, high-interest loan, often considered a specific and costly type of cash advance.
• Salary advance (noun): A cash advance given by an employer against an employee's future salary.

Synonyms

• Prepayment: Payment made in advance.
• Upfront payment: Money paid at the beginning of a transaction.

Antonyms

• Arrears: Money that is owed and should have been paid earlier.
• Deferred payment: Payment postponed to a later date.

Related Phrases

• Get an advance: To receive money ahead of schedule.
  • The contractor asked to get an advance to purchase materials.
• Against future earnings: Describing the basis for a cash advance.
  • The cash advance was provided against her future earnings from the project.

Noun

1. an amount paid before it is earned