In today’s life, credit cards play an essential role when it comes to protecting our money. It saves the hustle of carrying bundles of cash everywhere we go. Many people keep credit cards for the fact that they can generate huge cash backs and reward points at times while making orders. Show
However, at times, different transactions do not accept credit cards, and that is when we need to transfer a specific amount of money from our credit card to our bank account. If you are wondering how to transfer money from credit card to bank account, we have got you covered. Keep reading to know and understand all about transferring money from a credit card to a bank account to save significant time in the long run. If you are wondering how to transfer money from your credit card to your bank account in online methods, here are some ways that you can follow to do the same. 1. Net banking: It is the easiest way for you to transfer money to your bank account. You can transfer money directly by accessing your credit card’s online banking account. 2. Using a mobile wallet: This is extremely useful if you want to transfer your money from your credit cards to your bank account. Mobile wallet apps can be used to make direct transfers to your bank account. 3. Moneygram Global Money Transfer Services: Thislets you transfer money from your credit card to your bank account. Follow these steps to complete the process:
4. Using the Paytm app: It is a convenient, easy to use and super-feasible option when it comes to transferring money from your credit card. 5. Other e-wallet services and apps like Freecharge, Mobikwik, can come in handy if you are wondering how to transfer money from credit card to bank account using online methods.
These are some of the easiest online methods for you to try out if you want to transfer money from your credit card to a bank account. Offline methods can come across as a bit overwhelming to some people. Online methods suit best for their requirements. How to Transfer Money from Credit Card to Bank Account Offline?Online methods can intimidate some people. If you want to avoid online transactions and are wondering how to transfer money from your credit card to bank account using offline methods, here are the easiest ways to follow. 1. Using cheques is a feasible option when it comes to transferring money from your credit card to a bank account using offline methods. If you want to transfer money to your own bank, choose the option ‘cheque to self’ to proceed further. Put the necessary details of the receiver on your cheque. Deposit the cheque to your nearest bank and wait for some time for the transaction to happen. The charges required for this process can vary from one bank to the other. 2. ATM cards can be used in this situation as well. Use the ATM cash advance facility to withdraw cash from an ATM. Use your credit card and deposit that amount to your bank account. However, using this method can be a bit costlier than the previous method considering most banks generally charge 2.5% advance fees along with the total amount. This amount varies from one bank to the other. In general, this is the costlier yet very feasible step to follow if you are looking for offline methods. 3. One can also use PayDeck for transferring money from a credit card to a bank account using online methods. To follow this process, all you need to do is to put your PAN number for verification. The receiver does not need to be registered with PayDeck for the transaction to happen. However, you cannot transfer money to your own bank account if you choose to follow this method. Otherwise, it is one of the most feasible methods that you can go for. 4. You can also go for National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) offline methods. In order to follow these methods, go through the steps mentioned below:
For this method, a specific amount can be charged by the bank officials, which varies from one bank to the other. These are some of the easiest methods that you can follow if you are looking for offline transaction methods to transfer money from your credit card to your bank account. Read Also: Here are Key Highlights of Budget 2022-2023 and Expectations from it. Key Points to Consider Before Transferring Money from Credit Card to Bank AccountTransferring money to your bank account can come across as an overwhelming and difficult process for anyone who has little to no experience in handling their finances. If you often wonder how to transfer money from credit card to bank account, you should also spend some time going through some key points that can affect your transaction process.
A lot of things have to be taken care of while transferring money to a bank account. Little things can affect your transaction in ways that you will not even notice. These are some of the major things that you should keep in mind if you decide to transfer money from your credit card to your bank account to avoid any complexities or complications that might come your way. ConclusionCredit cards have become a feasible option for us to keep our money under control. The fact that using cards helps us get rid of the burden of carrying cash wherever we go is an extremely important contribution of it to the world. However, at different places, credit cards tend to get denied as a mode of transaction. For example, payment for car and housing loans, paying other card bills, and paying home loans in most cases do not allow credit cards to make transactions. This is where the need to transfer money to our bank account arises. Considering the other complications of loans, or going for cash withdrawals, transferring money from a credit card to the bank account seems more doable. Research and analyse how to transfer money from a credit card to a bank account, understand all the options you have and then go for the easiest one that suits your demands to avoid any complications during the process. FAQs✅Will my credit limit go down after making a transaction?Ans: Yes, your credit limit gets reduced after making transactions. ✅How long does it take for a transaction to happen successfully? Ans: Generally, all transactions are completed within three days. However, it may take up to 5 days, depending on a few internal factors at times. ✅Is it profitable to transfer money to my bank account? Ans: It depends on the interest you end up paying for the transaction. If the interest rate stays somewhere around 1.5%- 2%, it can be pretty profitable. ✅Are RTGS transactions irrecoverable? Ans: In most cases, the transactions are irrecoverable. ✅Is balance transfer cheaper than taking loans? Ans: Yes. A balance transfer is way cheaper compared to taking loans or borrowing money from investors. The process is easier as well. The interest rate varies from one bank to the other. Do a bit of research and get the best interest rate to transfer money in a cheaper way. Popular LinksPersonal Loan Interest Rates | Personal Loan Eligibility Criteria | SBI Personal Loan | HDFC Personal Loan | Indiabulls Dani Personal Loan | Bank of Baroda Personal Loan | ICICI Bank personal loan | IDFC first Bank Personal Loan | Kotak Personal Loan | Yes bank Personal Loan | Tata Capital Personal Loan | CitiBank Personal Loan | PNB Personal Loan | RBL Personal Loan | Shriram Finance Personal Loan | Money View Loan | Moneytap Loan | Paysense Loan | CASHe Personal Loan | Incred Loan | Early Salary Loan | Mpokket Loan | Bajaj Finserv Personal Loan Application status | Kotak Personal Loan Application Status | Hdfc Personal Loan Application status | SBI Personal Loan Application status | Axis Personal Loan Application status | ICICI Personal Loan Application status | Bangalore Personal Loan | Delhi Personal Loan | Chennai Personal Loan | Personal Loan Mumbai | Hyderabad Personal Loan | Best Loan Apps | Top Up Personal Loan | 5 Lakhs Personal Loan | 10 Lakhs Personal Loan | 1 Lakhs Personal Loan | UAN Member Portal | SBI Xpress Credit Personal Loan | Loan against LIC Policy | SBI Pre approved Personal Loan | Personal Loan for Self Employed | Personal Loan for Government Employee | Line of Credit | Personal Loan For Low Salary | HDFC Insta Jumbo Loan | HDFC Personal Loan Payment | ICICI Personal Loan Payment | Personal Loan for Low Salary | EPF | EPF Passbook | PPF Can I transfer my credit card money to my debit card?You can transfer money from a credit card to a debit card quickly and easily. The quickest option is to make a simple bank transfer either online or in person at your local branch, as long as you have the details of both accounts in question.
Can you transfer money from credit card to normal bank?It's possible to transfer money into a bank account using a credit card – but some ways of doing this are cheaper than others. One of the easiest options is to get a money transfer credit card. This allows you to transfer money from your card directly into your bank account.
How can I transfer money from my credit card to my bank account without a fee?Things to be Noted:. Register with Paytm.. Transfer fund from credit card to wallet.. Open the Paytm App and go to 'Passbook'. Select the option: 'Send money to Bank'. Select 'Transfer' option.. Enter information regarding the amount, account number, and IFSC.. Click on 'Send' button and money will be transferred to your account.. |