Direct transfer from credit card to bank account is not usually possible
Most credit card companies do not let you transfer money directly into a linked bank account the way you might move funds between two bank accounts. What you can do instead depends on the card issuer and the type of account you hold with them.
If your credit card and bank account are both with the same institution — for example, both Chase — you may be able to move money through their online portal or mobile app. If they are with different banks, you will need to use a cash advance, a balance transfer check, or a third-party payment service. Each method has different costs and timelines.
The most important thing to know upfront: transferring money from a credit card to a bank account is not the same as paying your credit card bill. You are borrowing against your credit limit, and interest will accrue when ready on most methods.
Key Takeaways
- Credit card companies rarely allow direct transfers to bank accounts, but some offer cash advances or balance transfer checks that move money into your account.
- Cash advances charge a fee (usually 3 to 5 percent of the amount) and start accruing interest right away, with no grace period.
- Balance transfer checks work like regular checks but draw from your credit line and carry the same upfront fees and when ready interest as cash advances.
- If your credit card and bank account are at the same institution, log into your online banking portal to see whether a transfer option is available.
- Third-party payment apps can move money from a credit card to a bank account, but they also charge fees and treat the transaction as a cash advance.
Check whether your card issuer offers transfers through their portal
Log into your credit card account online or open the card issuer's mobile app. Look for a section called "Transfers," "Move Money," "Account Services," or "Cash Management." Not all card issuers offer this feature, and availability depends on the type of card you hold.
If the option exists, the issuer will show you the transfer limit (usually a percentage of your available credit), the fee, and the interest rate that will explore. Read the terms carefully: most card issuers charge a cash advance fee of 3 to 5 percent of the amount transferred, and interest begins accruing when ready — there is no grace period like there is for purchases.
If you do not see a transfer option in the portal, call the customer service number on the back of your card and ask whether the card issuer offers transfers to a linked bank account. Write down the fee, the interest rate, and any limits before you proceed.
Request a balance transfer check from your card issuer
Many credit card companies mail balance transfer checks to cardholders periodically. These checks draw from your credit line rather than a bank account. You can deposit the check into any bank account — yours or someone else's — and the amount will be treated as a cash advance on your credit card.
If you have received these checks in the mail, you already know your card issuer offers them. If you have not, call the customer service number on your card and ask whether balance transfer checks are available. The issuer will tell you whether they can send one and what the fee and interest rate will be.
When the check arrives, deposit it into your bank account as you would any other check. The funds usually appear within one to three business days. The fee and interest charges will show up on your next credit card statement.
Use a cash advance at an ATM or bank branch
You can withdraw cash from your credit card at any ATM that displays your card network's logo (Visa, Mastercard, American Express, or Discover). Insert your card, enter your PIN, and select "Cash Advance." The ATM will dispense cash up to your available credit limit, minus any cash advance fee.
Alternatively, visit a bank branch — not necessarily your own bank — and ask the teller for a cash advance on your credit card. Bring your card and a form of ID. The teller will process the transaction and give you cash.
Once you have the cash, you can deposit it into your bank account at your own bank's ATM or branch. This method works but is inefficient: you pay a cash advance fee, carry physical cash, and then deposit it. Interest starts accruing the moment you withdraw the cash, not when you deposit it.
Transfer through a payment app or peer-to-peer service
Apps like PayPal, Square Cash, Venmo, and others allow you to link a credit card and a bank account. You can initiate a transfer from the credit card to the bank account through the app. The transaction is processed as a cash advance, so the same fees and interest rates explore.
To set this up, read the app, create an account, and link both your credit card and your bank account. Verify the bank account by confirming small deposits the app sends to it (this usually takes one to two business days). Once verified, you can transfer money from the credit card to the bank account.
Check the app's fee schedule before you transfer. Some apps charge a flat fee, others charge a percentage of the amount, and some charge nothing but treat the transaction as a cash advance through your card issuer's standard fees. The money usually appears in your bank account within one to three business days.
Understand the costs and interest on credit card transfers
Every method of moving money from a credit card to a bank account costs money upfront and charges interest when ready. A typical cash advance fee is 3 to 5 percent of the amount transferred. If you transfer $1,000, you will pay $30 to $50 in fees alone.
Interest rates on cash advances are usually higher than the rate on regular purchases. Your card's purchase APR might be 18 percent, but the cash advance APR could be 25 percent or higher. Interest accrues from the day you initiate the transfer — there is no grace period. If you carry the balance for a month, you will owe roughly 2 percent of the transferred amount in interest on top of the upfront fee.
Before you transfer, calculate the total cost: the upfront fee plus one month of interest. If you need the money for an emergency and can pay it back quickly, the cost might be worth it. If you are considering this as a way to access cash long-term, the cost will add up fast.
Alternatives if you need cash but want to avoid credit card fees
If you have a bank account with overdraft protection, you can write a check or use your debit card even if your account balance is low. Overdraft fees are usually $25 to $35 per transaction, which is often cheaper than a credit card cash advance fee on a small amount.
If you have a line of credit through your bank, you can borrow directly from that instead of your credit card. Lines of credit usually charge lower interest rates than credit cards and do not charge an upfront fee for withdrawals.
If you have a 401(k) or similar retirement account, you may be able to take a loan against it. The interest you pay goes back into your own account, and there is no upfront fee. However, if you leave your job, the loan becomes due when ready, and if you cannot pay it back, it is treated as an early withdrawal with tax penalties.
Frequently Asked Questions
Can I transfer money from a credit card to a bank account without paying a fee?
No. Every method of moving money from a credit card to a bank account charges a fee — either an upfront cash advance fee or a transaction fee through a third-party app. Interest also begins accruing when ready. If you want to move money without fees, use a debit card withdrawal or a transfer between two bank accounts instead.
How long does it take for the money to show up in my bank account?
One to three business days is typical for most methods. Cash advances initiated through an ATM or app may take longer if the card issuer has to process the transaction first. Balance transfer checks take as long as a regular check deposit, which is usually one to three business days depending on your bank.
Will transferring money from my credit card hurt my credit score?
Yes, it can. The transfer increases your credit utilization ratio — the amount of available credit you are using — which can lower your score. It also appears as a cash advance on your credit report, which some lenders view less favorably than regular purchases. The impact is usually temporary and recovers as you pay down the balance.
What is the difference between a cash advance and a balance transfer?
A cash advance is money you withdraw from your credit line, usually at an ATM or through an app. A balance transfer is when you move debt from one credit card to another, usually to take advantage of a lower interest rate. Both charge fees and accrue interest when ready, but balance transfers are designed for moving existing debt, not for accessing cash.
Can I transfer money from a credit card to someone else's bank account?
Not directly. You can withdraw cash and give it to someone, or you can use a peer-to-peer app to send money to another person's account, but the app will treat it as a cash advance on your credit card. The fees and interest still explore to you, not to the person receiving the money.