Money transfer: Credit cards can be incredibly useful in times of urgent need when funds are unavailable. However, it’s crucial to use them wisely and ensure that bills are paid on time to avoid falling into debt. While credit cards offer convenience, they may not be accepted for certain transactions such as mortgages, purchasing stocks, or sending money orders. In such cases, transferring money from your credit card to your bank account provides an alternative means of accessing funds. This process allows you to utilise funds when credit card payments are not accepted.
Transfer money from credit card through net banking
- Visit the official website of your bank or open the mobile banking app.
- Log in to your net banking account using your login details.
- Go to the Credit Card section to access your credit card account details.
- Select the Fund Transfer option
- Navigate and click on Transfer to the bank account.
- Enter the transfer amount and the bank account details to which you want to send the money.
- Confirm the transfer request and enter the OTP or any required security measures
- Review the transaction confirmation and note down the reference number or transaction ID provided.
Keep these things in mind before transferring money
- Before initiating a transfer from your credit card to your bank account, it’s essential to ensure that you have sufficient available credit on your card.
- Be mindful of any fees and interest rates associated with fund transfers.
- Credit card companies typically charge a processing fee, which typically ranges between 1 per cent and 5 per cent of the transfer amount.
- Prioritise security when transferring money. Utilise trusted and secure platforms for transactions, and refrain from sharing sensitive information such as your credit card CVV, PIN, or OTP with anyone.
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