Categories: Credit Card

How to transfer money from any credit card to your bank account online

What is a Credit Card?

A credit card just like an ATM in appearance but the functions are different. You will learn how to transfer money from any credit card to your bank account online.

An ATM is issued by your bank on the basis of your bank account, but to get a credit card, it is not necessary to have a bank account.

You can spend or withdraw money by ATM which is parked in your bank account and it is the limit of your ATM.

Credit cards are preset with a limit according to your income and this limit is allotted to your credit card as a loan.

Unless you do not use this limit you will not be charged with any interest on your credit card.

Now, you have learnt what the credit card is?

Let us talk about how to transfer money from any credit card to your bank account online.

Requirement of Funds Transfer from Credit Cards

There may be many reasons to transfer money from credit cards to your bank account.

Some of them are listed below:

  • To pay debt or loan
  • To pay fees of school or college
  • To pay bills
  • To cater emergency requirement

I would like to mention here that you should use your credit card in only emergency.

When no other source of funds is available, in that situation credit card are beneficial to use.

Do not make habit to transfer the funds from regularly from your credit card.

It may be dangerous for you and you can fall prey to debt.

Come to the point and learn how to transfer money from any credit card to your bank account online.

Methods of Transferring the Money from Credit Cards to Your Bank Account

As most of you are aware about these available methods.

Let us learn how to transfer money from any credit card to your bank account online.

Credit cards are basically use to pay online and at POS for goods and services.

To meet some extreme funds requirements you can transfer money also.

Following ways are used to transfer money from credit cards to bank accounts:

PayTm
  • By using Paytm you can transfer funds from your credit card to your bank account.
  • The first step is to register on the platform.
  • The transfer limit is ₹100 to ₹25000.
  • Open the app and click on the “add money”.
  • Enter amount.
  • Select Credit Card.
  • The requisite amount will be added to your wallet.
  • Now, the second step, open the app again.
  • Click on the passbook option.
  • Click on the “Transfer to Bank” option.
  • Fill in bank details.
  • Enter the amount and click “send” to complete the transaction.
PayZapp

It is another way to transfer the money from credit card to your bank account.

It is little costly and charge a fees between 3.5 tp 4.5%.

Daliy limit of transfer is ₹5000 in most cases and monthly limit is around ₹45000.

Daily limit can be enhanced up to ₹100000/.

Register on the app and fill necessary details to complete the transfer.

MobiKwik

This is also an option to transfer the money from credit card to bank account.

It also has the same procedure as PayTm and PayZapp.

Download the app and register.

Fill in required details and complete your procedure of transferring the money.

There are other apps which provide this facility.

Other than these apps, there are couple of websites which allows you to transfer money.

Websites Provide Transferring Money

Nobroker.in, paymatrix.in, razopay.com, and card expert.in etc. are the website where you can pay rent.

You can use these websites to transfer the money from credit cards to bank account.

I use nobroker.in and this website charges are very less around 1.5% including GST.

The money is transferred instantly to your bank account.

Paymatrix.in takes more than 48 hours to complete the transaction.

If you want detailed article how to transfer money, please let me know by comments.

I will definitely write a detailed article on this subject.

Conclusions

Transferring money from credit card to bank account must exercise with care.

There may be chances of link failure and your funds transferring process may be long.

You can fulfill your emergency or urgent need of money by this means.

Do not be habitual of this way of transferring money.

Prevent yourself from overspending.

Fees or fund transferring charges involved in it.

Use your credit card only in emergency to transfer the funds.

You must also read

Credit card spends cross pre-Covid levels | Business |

Be careful before taking loans from “LOAN APPS”

nand verma

View Comments

Recent Posts

5 Authors Who Have Been Called Out For Being “Racist”

Dickens is regarded as one of the greatest British authors of all time, and is…

1 min ago

Khushi Kapoor channels Ariana Grande while sporting soft glam and high ponytail : Bollywood News

Boney Kapoor and Sridevi’s daughter Khushi Kapoor's Instagram has a separate fanbase. She can go…

36 mins ago

Priyanka Chopra-backed company gives its 700 employees paid vacation to recover from Covid burnout

Dating app Bumble, which has actor Priyanka Chopra as an investor, temporarily closed its offices…

38 mins ago

Musk, Auto News, ET Auto

In Tesla's 'Battery Day' event in September last year, Musk said a $25,000 car that…

49 mins ago

Amazon may lose its logistics business under US antitrust legislation

Amazon.com Inc. could be forced to sell its valuable logistics services division --…

52 mins ago

Mouse plague forces Australian prison evacuation

SYDNEY: A mouse plague ravaging Australia's farmlands forced the evacuation of hundreds of inmates from…

53 mins ago