How to Transfer Money From Credit Card to Bank Account

Fast Processing ✓ Great Discounts & Offers ✓ Easy EMI Facility | Apply for Credit Card now! 

How To Add Money From Credit Card to Bank Account

You can opt for credit card to bank transfer and utilise the credit limit available on your credit card to make a wide array of payments. Transferring money from your credit card to your bank account, allows you to make payments that do not fall under the payments permissible via credit cards. This facility can enable you to fully utilise your credit card limit and fulfil your payment obligations. 

 

If you are wondering how to transfer money from credit card to bank account, the process is extremely swift and seamless. You can complete a credit card to bank account transfer through various modes, prominent amongst which are Internet Banking, adding money to payment wallets, and online fund transfer. 

1. Through Internet Banking:

One of the easiest ways to transfer money from your credit card to your bank account is through Internet Banking. Here are the steps you must follow:

 

  • Step 1: Visit your bank's official website. 

  • Step 2: Log in to Internet Banking by entering your login credentials. 

  • Step 3: Select Credit Card services. 

  • Step 4: Choose the option titled 'Credit Card To Bank Transfer'. 

  • Step 5: Enter the requisite amount and complete the transaction. 

2. Through Payment Wallets:

Another easy way to make a credit card to bank account transfer is through the addition of money to your online payment wallet. Here are the steps for this option:

 

  • Step 1: Log in to your payment wallet, for instance, Paytm or PhonePe

  • Step 2: Select the option titled 'Add Money'. 

  • Step 3: Enter your credit card details to add the required funds to your payment wallet. 

  • Step 4: Once the funds have been successfully added, select the option 'Send Money To Bank'. 

  • Step 5: Enter the amount you wish to transfer and complete the transaction. 

3. Through Online Money Transfer:

You can also use a money transfer portal to complete a credit card to bank account transfer. Here are the necessary steps:

 

  • Step 1: Log in to a recognised money transfer service. 

  • Step 2: Initiate the money transfer and enter the details of the recipient's bank account (your account). 

  • Step 3: Enter the required amount. 

  • Step 4: Choose a credit card as the payment method. 

  • Step 5: Enter your credit card details and complete the transaction. 

Now that you know how to transfer money from credit card to bank account, you can complete the process easily and safely. 

Online Methods to Transfer Funds from Credit Card to Bank Account 

Credit cards are often used as payment instruments to purchase products and services both online and offline. However, not many people know that their credit card can be used to transfer money from their credit card into their bank account in case of emergencies. 

 

Today, there are several mobile applications that can help you transfer these funds to your bank account. You need only download these apps, complete the requirements like KYC, and easily complete the fund transfer process. There is a range of mobile apps available on both Android and iOS that can be used to transfer money from your credit card to your bank account.

 

For instance, you can follow the following steps to transfer funds from these apps:

MoneyGram

  1. Add the details of your bank account and your full name

  2. Choose ‘Account Deposit’

  3. Enter the amount you wish to transfer

  4. Choose the ‘credit card’ option

  5. Enter the recipient’s bank account information

  6. The money will be transferred to your bank account

Western Union:

  1. Register with Western Union

  2. Log in to your profile

  3. Choose the amount to be transferred

  4. Enter bank account information

  5. Choose credit card as your payment option

  6. Receive the payment confirmation through email

  7. The money will be transferred to your account.

FAQs on Transfer Money From Credit Card to Bank Account

  • ✔️Are there any risks involved in transferring money to a bank account with my credit card?

    No risks are involved in transferring money to your account using a credit card. However, frequent transfers may draw the attention of the bank or the IT department.

  • ✔️What is the best way to transfer money from credit card to bank account?

    You can transfer money from your credit card to your bank account by using any of the following modes:

    • Internet Banking 

    • Payment wallets 

    • Online fund transfer 

  • ✔️How can I transfer money from credit card to bank account for free?

    You can use Internet Banking to complete credit card to bank transfer free of any charges. Alternatively, you can add money to your online wallet and then transfer the same to your bank account.

  • ✔️Are there any charges/fees for transferring money from credit card to bank account?

    Yes, banks charge fees for transferring funds from your credit card to your bank account. These charges vary from bank to bank

  • ✔️Is it possible to transfer money from a credit card to someone’s bank account?

    Yes, you can use your credit card to transfer money from your credit card to someone else’s bank account.

  • ✔️How long does it take for money to transfer from credit card to bank account?

    Using mobile apps, funds can be transferred from your credit card to your bank account instantly. If you’re using the offline method to transfer money from credit card to bank account, it may take a few working days depending on your bank.

  • ✔️Do I need a KYC to transfer money from credit card to bank account?

    If you’re using a mobile wallet or other indirect methods like mobile apps, you will be required to complete your KYC on those platforms.