Can I transfer money from a credit card to a bank account?

We hear about transfers between bank accounts all the time. Less so about transfers between credit cards and bank accounts.

The latter transaction type is possible. But credit cards aren’t designed for it, and you’ll probably pay higher fees. If you need funds fast, consider alternatives first.

How to transfer funds from a credit card to a bank account

1. Note the fees and/or interest rate for your transfer.
2. Take out cash or a money order.
3. Alternatively, make a wire transfer or a money transfer, or use a credit card convenience check.
4. Deposit the money into your bank account, or wait for your transfer to complete.

By taking out cash or a money order, you can make an indirect transfer between your credit card and your bank account. A wire or money transfer can be slightly more convenient, as you can initiate them online.

If your credit card provider allows it, you can also transfer money with a credit card convenience check.

Take out cash or a money order

If you bring a debit card to an ATM, you can withdraw cash. Do the same thing with a credit card when you use a cash advance.

Alternatively, take out a money order. Find one at your supermarket, a local money-transfer agent, a US Postal Service office or your bank. Money orders can be relatively inexpensive.

Once you’ve obtained cash or a money order, deposit it into your bank account. Many banks allow deposits through ATMs. You may also be able to make your deposit at a branch.

Make a wire transfer or money transfer

Make a wire transfer through your bank. Before you do, check if the bank allows credit card payments.

Also, consider money-transfer services like Western Union and MoneyGram, which allow you to transfer funds with a credit card.

Wire transfers and money transfers involving credit cards generally come with relatively high fees.

Use a credit card convenience check

Your card provider may occasionally send you credit card convenience checks.

When you write one, it’s as if you’ve swiped your credit card. The amount you put on the check will be drawn from your credit line — and you have to pay it back eventually.

Carefully read your provider’s fine print before using one of these checks. If you’re lucky, you’ll get a promotional interest rate on it. Otherwise, the check will be treated as a cash advance.

Compare cards with low cash advance APRs or fees

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Name	Product	Filter values	Cash advance rate	Cash advance fee	Minimum Credit Score
Capital One QuicksilverOne Cash Rewards Credit Card			26.99% variable	$10 or 3% of the cash advance amount, whichever is greater	580	Get unlimited 1.5% cash back on every purchase with no limit on how much you can earn, and no changing categories.	Apply now View details	Compare	loading Fetching your data...
Capital One Platinum Secured Credit Card			26.99% variable	$10 or 3% of the cash advance amount, whichever is greater	New to credit	A no-annual-fee secured card that separates itself from the pack with a $200 credit limit after making a more affordable than average deposit of $49, $99 or $200.	Apply now View details	Compare	loading Fetching your data...
OpenSky® Secured Visa® Credit Card			17.39% variable	$6 or 5% of the cash advance amount, whichever is greater	300	Apply for this card with no credit check if you're new to credit or have bad credit.	Apply now View details	Compare	loading Fetching your data...

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Other funding options

Because cash advances can be expensive, consider other options if you need funds in a hurry.

• Personal loan. This may be one of your best options. If you have decent credit, you may get a better interest rate than your cash advance APR. You could also get funds in your bank account within a business day.
• Borrow from friends or family. You may find someone willing to help you.
• Credit union loan. If you have a relationship with a credit union, you could negotiate a loan even if your credit score isn’t where you want it to be.
• Paycheck-advance apps. The Earnin app gives you limited advance funds that you pay back when you receive your paycheck.

Bottom line

You can transfer money from a credit card to a bank account — but it might cost you more. Consider the costs for a cash advance, which likely comes with a higher interest rate and transaction fees.

If you have time, consider the alternatives to a cash advance. You’ll find many reputable services that can help you if you’re in a financial pinch.

Frequently asked questions

How might a payday loan help?
Many personal finance experts say you should consider payday loans as a last resort. You must repay these loans very quickly, and they usually have sky-high interest rates. Consumers who take out payday loans often find themselves trapped in debt cycles that can snowball.

What’s a common cash advance APR?
You’ll commonly see APRs upward of 25% variable. These are very high rates, so avoid them if possible.

What’s a grace period on interest?
After your credit card billing cycle closes, your card provider will bill you the amount you’ve spent. You’ll typically have a grace period of 21 to 25 days to pay your balance. If you do, the balance won’t incur interest.