Transfer Funds from Credit Card to Bank Accounts

Credit cards enable you to manage your expenses without worrying about the cash in hand. With credit cards, you can spend now and pay at the end of your month. Along with that, it also allows you to transfer funds to your bank account and then withdraw it in case of any emergencies, which is an added advantage.

Now, there are several ways to transfer money from credit card to bank account. So, if you are not aware of how to transfer money from a credit card to a bank account, then you have landed at the right place.

How to Transfer Money from a Credit Card to a Bank Account?

Here are some ways to transfer funds from your credit card to your bank account.

  • Direct Transfer

Net Banking

You can directly transfer your money to your account from credit cards via net banking facilities. The credit card charges for transferring money vary from bank to bank. The steps include

  1. Visit your bank’s website
  2. Log in to your credit card account of yours
  3. Select the option for transferring
  4. Enter the amount that is to transfer
  5. Enter the rest of the necessary details in form
  6. Follow the guidelines to make the transfer

Over a Phone Call

If it is an emergency and the money is required immediately, and the online facility is not available at the moment, you can always complete your transaction over a phone call. This way, the charges for transferring money will not vary from net banking. You can simply call the helpline number of your credit card provider and get it done.

  • Indirect Transfer

E-wallets and Mobile Apps

Indirect transfers can be done through e-wallets and mobile apps. This process of transferring money is easy, safe and quick. However, these apps and e-wallets should be linked to your bank account to complete this process. You can register in the payment apps through your smartphone, laptop, tab or desktop and complete the balance transfer in online mode.

Also Read: Instant Credit Cards: What are They and How Do They Work?

Now, these are some of the popular ways to transfer money from your credit cards to your bank account. Moreover, this process is safe and secure, as credit card providers use multiple layers of encryption and multiple verification steps, ensuring that your account details are safe.

Advantages of Transferring Money from Credit Cards to Bank Accounts

  • Zero restriction on the usage: There are completely no restrictions on the usage of the funds. After obtaining them, you can use the fund for any purpose like medical emergencies, personal expenses, educational expenses or any other big exigencies.
  • No need for form fill-up:  Even though this cash transfer process is a type of loan in nature, it does not require any kind of paperwork. Thus, you do not need to face the hassle of form fill-up and other documentation processes.
  • Easy access to instant funds: The most important advantage of this process is instant access to the offered funds. You just need to swipe the card at a nearby ATM and get the immediate funds without any hassle.

Disadvantages of Transferring Money from Credit Cards to Bank Accounts

  • Paying interest: In this method, you will get no interest-free period to clear your dues. The credit card interest rates will be applicable from the day you transfer money till the day of your repayment of the whole fund. Therefore, you should not carry this for a long time. Also, other credit card charges, like ATM charges, etc., apply here.
  • No extra benefits: Generally, using a credit card gets you to reward points for use in future purposes. However, transferring money from your credit card to your bank account will not give you any extra benefits or reward points that you can use later in life.

Also Read: Strategies to Reduce Your Credit Card Processing Fees


Now that the concept is clear on how to transfer money from a credit card to a bank account, you can easily use it for emergency requirements for funds. This process is undoubtedly simple and quick, but its pros and cons are also important, as abusing it can cause severe financial difficulties.

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