There are several ways you can send money online with a credit or debit card, but you’ll need to keep an eye on the fees. It’s often cheaper to use a bank transfer or an online money transfer service. But if you have to, picking the right company to send money using your credit card can save you on excess fees.
Yes, you can send money online using a credit or debit card but it’s not the most common method. Typically, people use a bank transfer or a money transfer platform like Wise. These methods are often cheaper than sending money via a credit card. However, if you need to, it is still possible to transfer money online through a card.
You’re often able to pay for a money transfer with your credit or debit card. But compare costs among providers to make sure you’re getting the biggest bang for your buck.
You have several ways to use your credit card when paying for an international money transfer, including:
- Your bank. Use your credit card to transfer money overseas from your bank account either online, over the phone or by visiting a branch. But with one caveat: Your credit card provider will likely consider your transfer a cash advance, resulting in both a higher rate of interest and a cash advance fee.
- Money transfer specialist. Specialist transfer companies like Western Union, MoneyGram, WorldRemit, Ria Money Transfers and more allow you to send money online with your credit card. These providers allow you to pay for online transfers using your credit card, and a few also allow for in-person transfers with your card.
- PayPal. Link your credit card to your PayPal account to make an overseas transfer. Fees are 2.9% of your transaction amount and $0.30 per transaction.
Who is most likely to be researching sending money overseas with credit card?
Finder data suggests that men aged 35-44 are most likely to be researching this topic.
| 65+ | 3.81% | 3.81% |
| 55-64 | 6.57% | 3.81% |
| 45-54 | 10.55% | 3.98% |
| 35-44 | 15.22% | 10.73% |
| 25-34 | 15.22% | 9.86% |
| 18-24 | 9.52% | 6.92% |
Source: Finder sample of 578 visitors using demographics data from Google Analytics
Even if you don’t have a credit card, you may be in luck: many money transfer providers accept debit cards. If you decide to use a debit card, be sure to understand any processing fees you’ll pay.
Here are a few options for international transfers using your debit card:
- OFX. Exclusively through finder.com, you can get $0 transfer fees on OFX. As a bonus, the platform offers excellent exchange rates.
- Wise. Through Wise, you can pay no debit card fees for transfers to select countries. Watch out for percentage-based transfer fees, but rest easy knowing you’ll get the mid-market rate on all currency trades.
Want to make domestic money transfers with a debit card?
A debit card is a great option for domestic money transfers. If you pick the right transfer provider, a debit card will let you send money online quickly and for free. Consider these apps:
- Google Wallet. Google Wallet offers free transfers with a debit card. When your recipient receives the transfer, the money is automatically forwarded to the bank account linked to their debit card.
- Cash App. With CashApp, it’s free to load money with a debit card. It’s also free to send and receive money. On the downside, your recipient will have to wait a few days for the money to transfer from CashApp to their bank account. However, they can pay a 1% fee to withdraw the money immediately.
- Venmo. Venmo doesn’t offer instant withdrawals, but you can use it to send free transfers via debit card.
You have many options when it comes to sending money with your credit card, as companies are often willing to accept payment by plastic if you’re willing to pay for the convenience. Here are the fees charged by popular options for sending $1,000 to Mexico with your credit card when we checked in 2020.
| WorldRemit | 0.00% | $0.00 | $0.00 |
| Xoom | 0.00% | $3.99 | $3.99 |
| MoneyGram | 0.00% | $13.99 | $13.99 |
| Ria | 0.00% | $24.00 | $24.00 |
| Western Union | 0.00% | $29.99 | $29.99 |
| Remitly | 3.00% | $0.00 | $30.00 |
| PayPal | 2.90% | $5.30 | $34.30 |
| Wise | 4.63% | $1.41 | $47.71 |
While WorldRemit charges the lowest in credit card fees compared to the other popular sending options we checked, these fees aren’t the whole story.
You could find yourself in a situation where sending a money transfer from your credit or debit card is a good idea. Here are just a few:
You want credit card rewards
If you have a rewards credit card, you may earn travel miles or cash back after you fund your transfer. However, this works best when you use a service like MoneyGram or Western Union — not your bank. Transferring through your bank could saddle you with higher interest rates and fees, erasing any rewards you might earn.
You need your card in a pinch
Credit and debit card transfers could be useful in an emergency. For example, you may need to send an urgent transfer to a loved one who’s mugged overseas and has no cash. In this case, it may be most effective to send a card-based transfer via Western Union or MoneyGram.
The fees work in your favor
Before you initiate your transfer, check on fees for both credit and debit cards. If there’s any difference, you’re likely to find a lower fee for debit card transfers.
You don’t have a bank account
Using a bank account is the standard funding source for money transfers. However, you may not have your bank account details handy. In that case, it may be more convenient to use your credit or debit card.
If you don’t have a credit card, bank account or debit card, consider picking up a prepaid debit card. You can purchase one at a local store — such as a supermarket or Target — and use it to fund your transfer.
What’s the difference between a debit and credit card?
Compared with using your bank account, it could be more convenient to transfer money with your credit or debit card. However, keep these potential pitfalls in mind.
Your credit card transaction could be treated as a cash advance
When you pay for a transfer with your credit card, the transaction is often treated as a cash advance by your card provider. This typically attracts a cash advance fee and a higher rate of interest than an ordinary card payment. The interest may also apply from the day you make the transfer — without an interest grace period.
Look out for credit and debit card fees
Using your bank account is typically the cheapest option. When you use your credit or debit card, your provider is likely to charge you a higher transfer fee.
You can transfer money overseas with a credit or debit card, but it’s typically your more expensive option. It’s almost always cheaper to fund your transfer with your bank account. No matter how you’ll ultimately pay, compare multiple transfer providers before parting with your money.
Frequently asked questions
Can I send money overseas using a prepaid card?
That depends on your chosen provider — some services do offer international debit cards that allow you to transfer prepaid amounts abroad.
Can I transfer money from my credit card to Paypal?
Yes, however, this can be a pricey transfer. PayPal allows you to make credit card payments at a cost ranging from 3.9% – 7.4% of your total transaction value.
Can I use a credit card to transfer money with Western Union?
Western Union does accept credit card payments through providers like Visa and Mastercard. Although they tend to charge high fees to use this method.
Does WorldRemit accept credit cards?
WorldRemit accepts debit and credit cards issued by Visa and Mastercard. However, you may be subject to additional fees from your credit card issuer since the transaction counts as a cash transfer.
Can I pay off a credit card with an international bank account?
Typically, no. Few international bank accounts come with a corresponding credit card. It’s even more difficult to use your international bank account to pay off a credit card from a different provider. If you’re interested in using a card alongside an international bank account, consider multicurrency debit cards like the one offered by Wise.
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