How To Transfer Money From Credit Card To Bank Account

Your credit card gives you access to immediate funds during financial needs, but did you know that you can also transfer money from your credit card to your bank account? 

When an unexpected expense arises or you are due for loan repayment, but are low on your bank balance, you can send money from your credit card (CC) to your bank account.

Read this blog and learn how to transfer funds from your credit card to your bank account online and offline.

Quick Synopsis

• You can transfer funds from your credit card using net banking, e-wallets, ATM, cheque or by calling customer support.
• Banks or credit card providers impose a high interest on such transfers.
• You must use this feature in case of emergencies to protect your credit score.

Online Options to Send Money from Credit Card (CC) to Bank Account

Learn how to transfer money from credit card to bank account online in simple steps:

1. Send Money Using the Net Banking Feature

Take a look at how to do the transfer using the net banking feature:

• Step 1: Sign in to your credit card account from your bank’s net banking portal.
• Step 2: Choose ‘bank transfer’, input your amount and fill out other information on the page.
• Step 3: Follow the on-screen prompts and complete the transaction.

1. Use an E-Wallet 

E-wallet applications let you do a credit card to bank transfer when needed:

1. Open the e-wallet application, and select the ‘Passbook’ option.
2. From the available options, choose the option ‘Send money to bank’.
3. Select ‘Transfer’, type in your amount, and beneficiary details with IFSC, and send.

Offline Options to Send Money from Credit Card (CC) to Bank Account

Here, learn how to send money from credit card to bank account offline:

Call Your Credit Card Provider

You can call the customer support portal of your bank or credit card provider. Validate your card and state the amount to transfer, and the recipient’s bank details. They will guide you through the fund transfer process. 

Use ATM Cash Advance

You can withdraw money from an ATM using your credit card. Upon withdrawing the amount, either visit your bank or use an ATM with a cash deposit option to deposit the money into a bank account.

Use a Cheque to Transfer Money

Write a cheque with the desired amount you want to transfer and mention the payee as ‘Self’. Fill out other important sections, sign it and deposit it at your home bank branch.

Tips to Keep in Mind When Transferring Money from Your Credit Card to a Bank Account

Here are some tips to note when you send money from your credit card (CC) to your bank account:

• Check the available credit limit on your card, as the transfer will fail if your card balance is lower than the transfer amount.
• Consider the interest rate, as banks impose a higher interest rate for money transfer services. 
• Do not use this facility too much, as it might affect your credit utilisation ratio and credit score subsequently.

When Should You Send Money from a Credit Card to a Bank Account?

Here are some credible situations where you can do such a transfer:

• When you are low on bank balance, use this feature to pay for EMIs, mortgages, etc.
• Pay for your medical bills, utility bills, rent or any other immediate bill payments.
• Meet crucial financial obligations during financial constraints, like unemployment or a change of employment.

Final Word

As financial emergencies occur out of nowhere, you must get an idea of how to send money from your credit card (CC) to your bank account. You can transfer via net banking, e-wallet apps, ATM, cheque or by calling your card provider.

A credit card can be a valuable tool during emergencies, especially when it is secured. With Stable Money, you can easily get a secured credit card against your Fixed Deposits, combining safety with financial flexibility.

Apply for a secured credit card backed by FD now to enjoy exclusive benefits!