Saturday, July 13, 2024

A simple guide on How to Transfer Money from Credit Card to Bank Account

Do you need a good amount of money immediately? But no friend can help, nor do you wish to take a loan for it. So now you wonder how to transfer money from a credit card to a bank account. There are more than one but 5 ways to transfer money from a credit card to a bank account. You can use e-wallets, including Paytm, MobiKwik, Freecharge, or net banking methods, to transfer funds from your credit card to your bank account.

Read More: Step by Step Guide to Transfer Money from PayPal to Your Bank Account 

How to transfer money from credit card to bank account using e-wallet

  • Choose the e-wallet you trust and sign up for your account
  • Once you open the e-wallet app > choose ‘passbook’
  • Now tap on ‘Send money to the bank.’
  • Now hit on the ‘Transfer’ option
  • Enter the account number, amount, and IFSC details
  • Now tap on the ‘Send’ button to send the money to your bank account
  • That’s it. You are done with the process.

Western Union method to transfer funds from credit card to bank account

Western Union method is used when a user wants to transfer money across the country. Follow further steps to understand How to transfer money from a credit card to a bank account.

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  • Register for free with Western Union.
  • Choose the destination country to which you wish to transfer the money
  • Further, choose ‘Bank account’ as the delivery method
  • Enter the bank details of the recipient
  • Use your credit card to purchase something
  • You will receive an email consisting of a tracking or confirmation number or, you can say, a money transfer control number
  • You’ll see funds will transfer to the receiver’s account.

How much it will take to transfer the money will depend on the amount of money, nation, bank’s regulations, time of the day, business hours, and currency. Usually, it takes 1-5 business days to transfer money from your credit card to your bank account.

Read More: Find Out How to Transfer Money from Direct Express to Cash App? 

MoneyGram method to transfer money from credit card to bank account

MoneyGram is one of the simplest methods to transfer money from a credit card to your bank account. The following are the steps to achieve so:

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  • Open MoneyGram > choose the recipient and their nation > include recipient’s full name > If a user is sending the money to their account, they should enter complete bank detail
  • Now choose ‘Account Deposit’ and enter the amount you wish to transfer
  • Go to the ‘payment method’ and select ‘Credit card’
  • You’ll see associated costs or exchange rates on the screen if your transaction involves more than one currency
  • You’ll need validation, and for that, you should supply detailed and specific information about yourself
  • Give bank account information receiver’s name and all other necessary information asked
  • Your money will be transferred successfully once the bank knows all the necessary details.
how to transfer money from credit card to bank account 1

Net banking method to transfer money from credit card to bank account

Net banking is the primary method you can try if you want to refrain from indulging in other online forms. Following are the steps to transfer money from a bank account to net banking:

  • Go to your bank website
  • Enter the credit card information > choose one transfer option
  • Fill out the form completely using the necessary information, then complete the transactions

ATM cash advance method

Every bank provides the option to use an ATM for advance cash via credit card and deposit that money to the bank account. Following are the steps to transfer money from your credit card to your bank account:

  • Withdraw cash from an ATM by using a credit card
  • Go to your nearby bank branch and deposit the money
  • That’s it, but the bank will charge some money for this facility, so it’s like taking a mini loan.

FAQs

How do you take out money by using a credit card?

Users can use the ATM cash advance feature to withdraw cash, but later you’ll be required to deposit this money to your bank account.

How can I shift money offline from the credit card to the bank account?

You can use options including NEFT, RTGS, or basic ATM, and that’s how you can transfer money from your credit card to your bank account.

Can I make a credit card to transfer money via Gpay?

Go to google pay on your mobile > sign in, and enter your PIN. Tap on your profile > choose the ‘Add Debit/Credit Card’ button, billing address, and cardholder’s name. Enter the card number, CVV, and expiration date. Now Google Pay will verify the information with the bank.

Can I use the credit card to finance with UPI?

Yes, UPI apps such as PhonePe, Paytm, and GPay allow users to add credit and debit cards to their bank accounts.

How much money can be transferred by using a credit card?

Usually, if the money you are transferring exceeds or exceeds 75% of the credit card’s limit, you can share as much as you want. In the same way, you can utilize the balance transfer feature by texting, calling, or signing in.

Read More: The Best Way to Transfer cccfrom Australiahh to USA

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Palak Sharma
Palak Sharma
I am Palak, born and brought up in Himachal Pradesh. An introvert by nature who loves writing more than speaking. I do it often to express myself, to entrain myself, and to feel meaningful. While enjoying this world of words I ended up being part of a published anthology 'Blooming skies' with my poem 'On the day of devastation'. I love this concept of written words living on a paper till the end of time, they give me a sense eternity.

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