Over the years credit cards are a great way to shop smartly without putting a strain on your pocket. If you’re dealing with money issues or have an unexpected expense or personal crisis, moving funds from a credit card to your bank account can be a handy solution. Let’s dive into how to do this step by step.
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Cash Advance via ATM
Most credit cards let you take out cash advances at ATMs. Just use your credit card PIN to get the cash you need and then deposit it into your bank account.
Online Bank Transfer
Some credit cards offer the option to transfer money straight to your bank account through their mobile app or online banking. Just log into your bank’s website, head to the money transfer section, pick the amount you want to send, and follow the prompts to complete the transfer. The funds will be on their way.
E-Wallet Transfer
First, sign up for your preferred e-wallet. Open the app, navigate to the ‘Passbook’ section, and select ‘Send Money to Bank.’ Choose the ‘Transfer’ option, enter the amount, the account number you’re sending to, and the IFSC code. Hit ‘Send’ to start the transfer, and the money will be sent.
Western Union is another viable option
You can sign up for free with Western Union. Start by choosing the name and country associated with the money transfer account. Then, select ‘Bank Account’ as your delivery method. Fill in the recipient’s bank account information and finalize the transaction using a credit card. After that, you’ll receive a confirmation email containing a Money Transfer Control Number (MTCN). The funds will typically arrive within 1 to 5 business days.
You can also transfer money through MoneyGram
Begin by selecting the name of the person you wish to send money to, along with their country. If you’re sending money to yourself, simply enter your own name and country, along with your account number. Choose ‘Deposit to Account’ and specify the amount you want to send. Opt for ‘Credit Card’ as your payment method, and be aware that a fee will be deducted. Click to proceed, and your money will be on its way!