Get salary accounts for your team See benefits
Get salary accounts for your team See benefits
Table of Contents
ToggleCredit cards offer a convenient way to make purchases without cash. While they are useful for many transactions, they aren’t accepted everywhere. For instance, you can’t use a credit card to pay for a car or home loan. Many people also need cash for investments in the stock market, but credit card payments aren’t an option.
While you can’t directly use a credit card for these purposes, you can transfer money from it to a savings account. This might come with high fees, but it’s an option. Let’s explore how to do this.
There are various methods to send money from your credit card to your bank account. Take a look at them below:
To move funds from your credit card to your bank account using net banking, follow these steps:
For transferring money from your credit card to your bank account using an e-wallet like Paytm, Freecharge, or MobiKwik, follow these steps:
Here are the steps for transferring funds from a credit card to a bank account using Western Union:
Keep in mind that the time for the transfer can change based on factors like the amount, destination, currency, bank rules, and the time of day. Western Union typically completes the transfer within 1 to 5 business days.
To send money from your credit card to a bank account using MoneyGram, follow these steps:
Need cash fast without internet access? Transferring money from your credit card to a bank account by phone is a quick option. This method has the same fees as online transfers. Here’s how to use it:
You can also transfer funds to your bank account by withdrawing cash from an ATM using your credit card. Keep in mind that there are usually fees associated with this method.
Here are a few things you should consider before initiating a credit card to bank account transfer:
No, there’s always a fee to transfer money from a credit card to a bank account. The exact cost depends on your bank.
To find the cheapest way to transfer money, contact your bank directly and inquire about their transfer fees. Comparing fees between different banks can also help.
While generally safe, transferring money from a credit card to a bank account carries risks. High-interest charges can accrue if the balance isn’t paid off promptly. Additionally, there’s a risk of fraud if you share card details on unsecured platforms.
If you encounter issues, contact your credit card issuer or bank immediately. They can assist with troubleshooting and resolving the problem.
Yes, you can add your credit card to Google Pay for payments. Open Google Pay, go to your profile, and select “Add Debit/Credit Card.” Enter your card details, and Google Pay will verify them with your bank.
Priyanka Rao is a content strategist for Jupiter.Money, and specializes in writing on topics related to finance, banking, budgeting, salary & wages, and other financial matters. She has a passion for creating engaging content that resonates with audiences across various digital platforms. In her free time, Priyanka enjoys traveling and reading, which allows her to gain new perspectives and inspiration for her work. With a keen eye for detail and a creative mindset, Priyanka is committed to creating content that connects well with her readers, enhancing their digital experiences.
View all postsPriyanka Sharma is the Head of Credit Cards (Sr. Director Business & Product - Credit Cards) at Jupiter Money, where she leads the growth and development of the company’s credit card portfolio. She is responsible for driving strategic initiatives and enhancing customer experiences through innovative credit products. Priyanka’s leadership is shaping Jupiter’s approach to simplifying personal finance for its customers. Prior to her role at Jupiter Money, Priyanka was an Engagement Manager at McKinsey & Company, where she provided strategic advice to clients across various sectors. Her expertise in business strategy, growth, and operations was built on her strong analytical skills and client-focused problem-solving abilities. Earlier in her career, she worked at ZS, a global business consulting firm, where she contributed to various projects, gaining significant experience in data-driven business decisions. Priyanka holds a Post Graduate Programme in Management with a focus on Finance, Strategy, and Leadership from the Indian School of Business (ISB), where she graduated with distinction, earning a place on the ISB Dean’s List. This prestigious academic achievement underscores her deep understanding of financial strategy and leadership, which she continues to leverage in her fintech leadership role.
View all postsPowerd by Issued by