Transfer money for free: Credit cards are important to have in today’s financial landscape. Credit cards offer convenience, security, and a range of rewards that make them an attractive tool for managing your finances. They also often have additional built-in benefits, such as rental car insurance and extended warranty coverage.
Using a credit card responsibly can also help to build or improve your credit score. Making payments on time and keeping utilization low helps to demonstrate responsible use of credit to potential lenders in the future. but sometimes credit cards cannot be used for certain transactions.
Payment for mortgages, stocks, money orders are all such examples that do not accept a credit card payment. In such a cash, you can always transfer money from your credit card to your bank account. Here is all that you need to know about such a transaction.
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Transfer money for free from credit card to bank account
Here are the ways through which you can transfer money from credit card to your bank account,
1. Net banking:
money can be transferred by directly accessing your credit card’s online banking account. the charges for making a transfer from a credit card to a bank account varies from bank to bank. follow the procedure provided below:
- open your bank’s website and log in to your credit card account.
- Select the type of transfer you will be making (credit card to bank account).
- Enter the amount you wish to transfer.
- Select the source credit card and destination bank account for the transaction.
- Confirm your details and click “Submit” to complete the transfer process.
Net banking can also be used for international transfers, which can make sending money abroad much more convenient. All you need to do is select the currency for your transfer and enter the amount you wish to send.
The funds should be credited to the recipient’s account in the corresponding currency, usually within 1 – 2 business days. This makes net banking an ideal solution for those who regularly send money internationally.
2. e-wallets :
E-wallets are also a great way to transfer money from your credit card to your bank account. Some of the most popular e-wallet providers include Paytm, phonepe, mobikiwik and Google Pay. Using an e-wallet to transfer money from your credit card to your bank account is a straightforward process that can be done in just a few steps:
- Need to set up an e-wallet account and add funding sources such as your credit card or bank account.
- Then go the passbook of the e-wallet.
- Choose the option ‘Send money to the bank’.
- Select the option ‘Transfer’.
- Enter the amount to be transferred with IFSC code.
- Now click on ‘Send’ to transfer money from credit card to bank account.
3. Phone Call :
The process of transferring money from a credit card to a bank account via a phone call is relatively straightforward by calling the customer care :
- Call the customer care of the bank.
- Money transfer request from credit card to your bank account and also mention the amount with confirmation.
- Share details including bank account number.
- Follow the instructions during the call for transferring the money from credit card to bank account.
4. ATM Cash Advance :
Withdrawing money from an ATM using your credit card, this process is called cash advance fees. You can use ATM cash advance for transferring money from credit card to your bank account by withdrawing money from ATM and deposit into your bank account.
5. Cheques :
‘Cheque-to-self’ is a method which is another method to transfer money from credit card to bank account. Don’t forget to mention the amount to be transferred. Here, you need to fill the details in the cheque, with the amount in words, amount in numeral and signature. deposit the cheque to your bank branch.
These are the methods you can use to transfer money from credit card to your bank account.
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