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Transferring money from your credit card to your bank account can be a lifesaver if you’re running low on funds. It can be used to meet financial obligations that cannot be carried out using a credit card. 

Online Methods to Transfer Funds from Your Credit Card to Your Bank Account

There are numerous ways to transfer funds from your credit card account to your bank account. Here are some of them: 

1. Internet Banking 

  • Step 1: Visit your bank’s official website (mobile app should also work)

  • Step 2: Log in to your account

  • Step 3: Choose ‘Credit Card Services’ 

  • Step 4: Select ‘Credit Card to Bank Transfer’ 

  • Step 5: Enter all the required information to complete your transaction

2. Indirect Transfer Using e-Wallet Apps 

  • Step 1: Log in to your preferred e-wallet app (such as Paytm and PhonePe)

  • Step 2: Initiate a fund transfer and enter recipient’s details (your bank account information)

  • Step 3: Enter the required amount 

  • Step 4: Choose ‘Credit Card’ as payment option

  • Step 5: Fill in your credit card details to complete the payment

 

You can also use apps like MoneyGram and Western Union to transfer funds from your credit card account to your bank account. If you prefer to go the offline route, you can call your credit card provider directly and request a fund transfer. 

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DISCLAIMER

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees and charges with regard to any credit card, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, trade names, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs on Transfer Money From a Credit Card to Your 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, it’s a good idea to avoid frequent transfers as that may draw the attention of the bank or the IT department. Additionally, since there is a lot of confidential information involved, it’s important to be careful while transferring funds, particularly when using third-party apps.

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

Here are some of the fastest and more efficient ways to transfer money from a credit card account to your bank account: 

  • Internet Banking 

  • Payment wallets 

  • Online fund transfer

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

Typically, transferring money to your savings account with the help of your financier’s banking app or website should be free of cost. Though, it’s a good idea to read up on their policies for such transfers to avoid unnecessary charges.

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

Yes, banks may charge fees for transferring funds from your credit card to your bank account. The exact amount may vary from one credit card issuer to another.

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?

It usually takes only a couple of minutes to transfer money from your credit card to your bank account if you’re using an e-wallet or your credit card issuer’s app/website. In case you’re using an 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 to carry out the transfer, you will be required to complete your KYC on those platforms.

Can I transfer money from my credit card money to a debit card?

Yes, you can transfer money from a credit card to a debit card using e-wallets or your  financier’s banking website or app.

How much money can be transferred from a credit card to Paytm?

Paytm allows you to transfer up to ₹10,000 from your credit card in a single transaction and up to ₹1 Lakh in a month. However, it may be a good idea to get in touch with your banking partner to get a clearer idea about transfer limits.

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