Most payments, including loan repayments, can be made using a credit card; however, not all payments can be made with one. A credit user’s only choice in such a circumstance is to transfer funds from their credit card to their bank account.
The ability to transfer money from your credit card to your bank account might be helpful if you need to access funds for payments that your credit card does not immediately cover. Here’s how to go about it:
Online Mode
1. Net Banking
- Open the mobile banking app or go to the official bank website.
- Enter your login information to access your bank account.
- To view the information of your credit card account, navigate to the credit card area.
- In the credit card area, choose the “Funds Transfer” option.
- To transfer to a bank account, choose it.
- Input the desired transfer amount and the bank account information to be used for the fund deposit.
- Check every detail thoroughly.
- Verify the transfer request and finish any security checks that need to be done, including providing a one-time password (OTP).
- Examine the confirmation of the transaction, and note down the transaction ID or reference number for your records.
2. Phone Call
- Give your credit card provider a call.
- Request to have money transferred from your bank account to your credit card.
- Verify the amount you want to move.
- Give your bank account information along with any other necessary data.
- To finish the transfer, adhere to the guidelines supplied by the credit card provider.
Offline Mode
1. Visit To A Bank Branch
- Bring your ID, credit card, and bank account information to the branch of your bank.
- Request a money transfer from your credit card to your bank account from the teller. Be aware that this service can come with a modest cost.
2. ATM Withdrawal
- Take out cash using your credit card from an ATM. Recognize any possible withdrawal restrictions.
- Use the bank’s deposit service to deposit the money into your bank account.
3. Cheque or Money Order
- For the amount you wish to send, write a check or get a money order.
- Place the money order or check into your bank account.
4. Wire Transfer
- To begin a wire transfer for a bigger amount, contact your bank branch by phone or in person.
- Give the account number and routing information of the receiving bank. Please take note that this service can come with a cost.
Effective money management requires knowing how to move funds from a credit card to a bank account. There are several ways to access money, including phone calls, offline means, and net banking. Nonetheless, taking into account all of these factors will guarantee a safe and efficient transfer procedure.
