American Express has sent out a letter with ‘important account changes’. Effective November 1, 2020 the definition of what qualifies as a cash advance will be:
A cash advance is a charge to get cash or cash equivalents, including travelers cheques, gift cheques, foreign currency, money orders, digital currency, casino gaming chips, race track wagers, similar offline and online betting transactions, and digital precious metals products
The only difference to the current definition is the addition of digital currency and digital precious metals products. Digital currency purchases have coded as a cash advance for most payment networks for some time, so I’m surprised that wasn’t the case with American Express already.
Hat tip to true_tedi
