How to Transfer Money from Credit Card to Bank Account

If you are a credit card holder and finding how to transfer money from credit card to bank account and didn’t get yet then you are in the right place. In the post, you will get to know everything about credit cards like how to transfer money from credit card to bank account without any charges, how to transfer money from credit card to bank account through Paytm, and many more.

How to Transfer Money from Credit Card to Bank Account

With the help of a credit card, you can do many payments like shopping payment, bill payments and etc. If you are doing a transaction using a credit card then you will get reward points and cashbacks. You can use your credit card as an alternative to cash.

There are some kinds of payment which you can’t pay with your credit card like mortgage payment, household bills, taxes, car loan, medical bill, down payment, money order, other credit card bills are some examples which you can’t pay using your credit card.

If you owe a credit card and urgently you need cash but your credit card didn’t allow you to withdraw cash. So in this type of situation, you can do only one thing which is you can transfer money from credit card to bank account. When your money is successfully transferred on your bank account you can withdraw the money from anywhere.

If you want to transfer money from credit card to bank account you should have mobile wallet apps like Paytm, PhonePe, and other mobile wallet apps also available on the internet. The apps which I mentioned are available for both android and IOS devices. You can’t directly transfer money from credit card to bank account.

You can transfer money from credit card to bank account by two websites which you can access on any devices like Smartphone, tablet and laptop or desktop. The websites are Western Union and MoneyGram.

How to transfer money from credit card to bank account with websites

  1. Western Union
    The process which I am going to tell you is about Western Union. You can transfer money all over the world with the help of Western Union.

Step 1: Visit Western Union Website.

Step 2: Register your account with Western Union for free of cost.

Step 3: You have to select the country where you want to transfer.

Step 4: Make the payment with your credit card.

Step 5: You will get a confirmation mail on your registered email id and you will get a tracking number of the payment which you had done.

  1. MoneyGram
    This is the process for MoneyGram which I am going to tell you.

Step 1: Visit MoneyGram Website.

Step 2: Register your account on MoneyGram for free.

Step 3: Click on Send Money.

Step 4: Enter the amount which you want to pay and enter the receiver country name.

Step 5: Enter all the details about the receiver like name, address, bank account details and etc.

Step 6: Pay the amount with your credit card.

Step 7: You will get a review page where you can check all the details which you entered. Then click on Submit Transaction.

Step 8: After doing all the above steps the money will successfully transfer to the bank account.

Note: There is some fee for the money transfer on both the websites Western Union and MoneyGram.

How to transfer money from credit card to bank account with Mobile Wallet Apps

  1. PhonePe
    Many people are confused about transferring money using PhonePe and searching for How to transfer money from credit card to bank account through PhonePe. So here are the processes to transfer money to a bank account using your credit card.

Disclaimer: This process is only working for PhonePe KYC user

Step 1: Install PhonePe App and The Mobile Wallet App (The Mobile Wallet provide you Virtual Debit Card) on your Smartphone.

Step 2: Register your account on both the apps PhonePe and The Mobile Wallet

Step 3: Add the money on The Mobile Wallet app using your credit card.

Step 4: Open PhonePe app

Step 5: Click on My Money and the click PhonePe Wallet

Step 6: Add money from The Mobile Wallets Virtual Debit Card to your PhonePe App.

Step 7: After adding the money on your PhonePe App you have to click on again on My Money and then PhonePe Wallet. You will get a withdrawal option.

Step 8: Enter the bank account detail where you want to transfer the money. Then click on withdrawal and drag the PhonePe icon to bottom your money will successfully transfer.

  1. Paytm
    Paytm is one of the best apps to transfer money, bill payments, and many other transactions you can do with the help of Paytm. If you are finding for How to transfer money from credit card to bank account through Paytm then here you will get the step by step process for transferring money to bank account using Paytm wallet. Paytm charges a 3% fee when you transfer money to a bank account.

Step 1: Install the Paytm app on your Smartphone.

Step 2: Register your account for free

Step 3: Click on Passbook, then click on Paytm Wallet then you will see Add money to Paytm Wallet.

Step 4: Click on Add money to Paytm Wallet.

Step 5: Enter the amount that you want to add.

Step 6: Add the money using your credit card.

Step 7: Click again on Passbook, then click on Paytm Wallet then you will see Send Money to Bank

Step 8: Click on Send Money to Bank.

Step 9: Enter the amount which you want to send on the bank account.

Step 10: Enter the Bank account number, IFSC code, and Account Holder Name then click on Proceed.

Step 11: Your money will successfully transfer to the bank account.

How to transfer money from credit card to bank account without any charges 2020
You need two Apps to transfer money from credit card to bank account without any charges. The apps are Paytm App and Paytm for Business App. With these two apps, you can transfer money for free.

Step 1: Install the Paytm App and Paytm for Business App

Step 2: Register on both the apps for free.

Step 3: Add money to your Paytm App with your Credit Card (The steps to add money on Paytm I have mentioned above)

Step 4: Fill all the bank details on Paytm for Business App. Then you will get a QR code image with that Qr code you can accept any Paytm payments for free.

Step 5: Open Paytm App and click on Pay. You can enter the mobile number which you had entered while you created the Paytm for Business Account. Or, you can scan the QR code from the QR code Image.

Step 6: After entering the mobile number or scanning the QR code. Enter the amount which you want to transfer to the bank account and click on Pay.

Step 7: Your money will automatically deposit on the next day to the bank account which you have provided on the Paytm for Business App.

Final Word
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