Most credit cards don’t offer the facility to transfer funds to your bank account, but specialist cards designed for exactly this purpose do exist, known as “money transfer credit cards”. Money transfer cards will typically come with an introductory 0% rate on money transfers for a fixed period, which could even be upwards of 24 months. You’ll usually need to make the transfer(s) within a specified timeframe from account opening.<\/p>
Alternatively, you could of course withdraw cash from your credit card. This is classed as a “cash advance” and typically comes with a fee and a higher rate of interest \u2013 that will begin to accumulate immediately (your card’s interest-free days<\/a> usually won’t apply to cash advances). As a general rule of thumb, you shouldn’t use credit cards for withdrawing cash, although money transfer credit cards offer a way around this.<\/p> If you’re looking at transferring funds from a credit card, perhaps in order to pay off your overdraft, pay an individual or to access cash, a money transfer card could be a smart option. Here’s how they work, how to compare them and what to watch out for.<\/p>How to transfer funds from a credit card to a bank account with a money transfer card<\/h3>