Here’s How you can transfer money from Credit Card to Bank Account without any Charges

Thinking about how to transfer money from a credit card to a bank account without any charges? Don’t worry! we got you covered. In this post, We will discuss on what are the ways to transfer money from a credit card to a bank account in India.

How to transfer money from credit card to bank account without any charges

With the rise of online payment options and mobile payment wallets in India, Credit card-to-money transfer has become the most common transaction nowadays.

As everyone got access to mobile payment wallets such as Paytm, Mobikwik, PhonePe, Google pay, etc, Online money transactions have just become easier than ever before.

Sometimes we all go through cash crunches while emergency situations such as hospitalization, School Fees due, and other daily expenses.

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It is not also limited to household expenses, even small business owners face cash flow issues on a daily basis to purchase goods from suppliers.

In such times, a Credit card to bank account transfer facility will be so handy to escape the situation. It’s also better than borrowing money from your friends, relatives, colleagues, etc.

All you need to have is a credit card with a limit and a smartphone to get started.

How to transfer money from credit card to bank account without any charges: Top Methods

Here are the 2 most popular ways to transfer your credit card balance to your bank account.

• Online Money Transfer (Self)
• Domestic Money Transfer Service through Authorised Agent

Online Money Transfer (Self):

This is the most widely used method to transfer money from credit cards in India. You need to download the Paytm Mobile application on your smartphone first.

Once you have downloaded it, register your details and complete the KYC process.

Now just head over to Paytm wallet and tap on Add money to Paytm wallet.

Add your credit card as one of the payment methods and add money from your credit card to the Paytm wallet.

Once the amount is added to the wallet, you can now send it to your savings bank account.

Now head over to Send Money option and tap on the “to Bank A/c option” and save your bank account details such as account number, IFSC code, etc.

Now just choose the amount that you want to transfer and hit on “proceed”.

That’s all. Money will be transferred from your Credit card to your bank account instantly and without any charges.

However, there will be nominal charges will apply for this transaction based on your KYC and other factors. It may vary anywhere between 2.50%-3.50% to add money to the wallet.

Also, there are certain limitations on amounts that you can transfer on daily basis. This method is recommended for small requirements such as below Rs 25,000 or so.

Domestic Money Transfer Service through Authorised Agent (Recommended):

What is a Domestic Money Transfer Service Agency?

Money transfer service agents will offer various services such as mobile recharges, DTH recharges, railway tickets, hotel bookings, bus tickets, DMT (Domestic money transfer) service, AEPS (Aadhar-enabled payment services), etc

These agents/retailers are the authorized banking correspondents of leading fintech companies in India.

All you need is to find the nearest agent or retailer and visit with your credit card, PAN card, Aadhar card, and bank account details.

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The agent will verify the KYC details and once it is successful, he/she will help you with a credit card to-bank transfer at a nominal fee.

The good part is there are no daily limits in this method, you can transfer as per the available credit limit on your credit card.

However, you may need to pay a nominal charge between 2% to 2.50% of the total amount. You may also negotiate with the agent if your requirement is high.

Few agents provide this service online as well. If you are looking for a credit card to cash online service, you may WhatsApp us now. We provide this service 24/7/365 just over a WhatsApp chat.

Needitnow.in is an authorized banking correspondent for online money transfer services to 400+ banks in India. Our services are 100% safe and secure and trusted by thousands of clients in India.

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Also See: Here’s How you can Transfer Money from Credit Card to Bank Account Instantly

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