Credit Card To Bank Account: At first we have to understand credit card and bank account.
Credit Card:
A credit card is a payment card, usually issued by a bank, allowing its user to purchase goods or services or withdraw cash on credit. Using the card are one of the most widely used forms of payment across the world.
Bank Account:
It is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded. Bank account enable you to spend without cash on hand and get direct deposits from employers or other institutions.
You can’t use a credit card in certain cases like getting a mortgage, buying stocks or sending money orders, etc. In a circumstance like this, you got the opportunity to shift money from credit card to bank account. Yet, charges might be incurred for doing this
Credit cards are showing to be so much helpful when one need money urgently and have no it. It is good only if the credit card is using wisely and the bills are paying on time. Otherwise, one may too get trapped in a trap of debt!
Understanding the importance of credit card is vital, but remember that it can’t be used for mortgage, purchasing shares or sending money orders etc.
Hence, there is a choice to transfer funds from credit card to your bank account. This maneuver grants you access to funds in instances where credit card payments aren’t taken.
Credit Card To Bank Account: Transfer money from credit card through the net banking can be a convenient way to manage your finances.
Now let’s explore the step-wise process of transferring money from your credit card to your bank account.
- First of all, go to the official website of your bank or open the mobile banking app.
- Now log in to your net banking account using your login details.
- After log in, head over to Credit Card section for access to credit card account detail.
- Here in the Credit Card section, select the Fund Transfer option.
- Navigate and clicked onto transferring for bank account.
- Now enter the amount you want to transfer and the bank account details to which you want to send the money.
- Now verify all the details correctly.
- Confirm transfer request and enter OTP or any required security measures.
- Review the transaction confirmation and make a note of the reference number or transaction ID provided.
Reminder: Before you send money, keep this in thought.
Before transferring money from credit card to bank account, ensure that there is sufficient credit available on your card. Beware of all fee and interest rates associating with funds transferring.
Credit card companies commonly charges processing fees, usually ranging from 1% to 5% of amount been transferred.
Most of the people say that it is free of cost but company charges some money. Prioritize security when transferring money. Utilize trustful and safe platforms for transactions, and don’t ever disclose details like your credit card CVV, PIM or OTP with somebody.
Frequently Asked Questions: FAQs
Q. Can I withdraw cash from credit card?
Ans: To withdraw money from your bank account through credit card, go to the ATM and insert your credit card. After this, enter your PIN and withdraw the amount by entering the amount of money to be withdrawn.
Q. Can you transfer cash from the debit card to my checking a/c?
Ans: Yes, you can it is commonly asked question by many people. For this, install Paytm or other app and open it. After this, enter your credit card details, enter the details of the account to which you want to send money and send the money.
Q. Can money be transferred through credit card?
Ans: Yes, money can be transferred from credit card to bank account online. Many credit cards provide the facility to transfer money. For this, log in to your internet banking and transfer money.
Q. How can I send money to someone with my credit card?
Ans: Yes, you can send money to anyone with your credit card. There are many such apps available in the market, which provide the facility to send money through credit card.
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