How to Transfer Money From Credit Card to Bank Account

Short Answer: Many banks and credit card issuers, including Bank of America, BB&T, Citibank, and Discover, will let you transfer available credit from a credit card to an internal or external checking account. Other banks like PNC, U.S. Bank, and Wells Fargo will only let you make a transfer from a credit card to an internal checking account — meaning the credit card and the checking account must be within the same financial institution. Transfers can typically be done online, through mobile banking, or over the phone by providing your credit card number and the routing and account number of the account you wish to send funds to.

Fees for this service generally range from around 3% to 5% of the transfer amount. Additional charges like interest also apply.

During our research, we could not find any credit card issuers that allow transfers from a credit card to a debit card; you can only transfer funds to a valid bank account.

For more details on how to send money from your credit card to a bank account, see below.

How to Transfer Money From Credit Card to Bank Account

The first step in transferring money from a credit card to a bank account is to confirm that your bank and credit card allow this type of transaction. Once confirmed, you can usually make the transfer through online banking, through mobile banking, or over the phone. You will need to provide your full credit card number and, in some cases, other information off of your actual credit card. You will also need to provide the routing and account numbers of the account you’d like the funds to be transferred to.

None of the credit card issuers we contacted allow credit card transfers to a debit card; instead, you can provide the routing and account numbers of the bank account linked to your debit card. Once the funds are available, you can use your debit card to make purchases or withdraw cash at the ATM. During our research, we found that prepaid debit cards are not eligible to receive a transfer from a credit card.

For credit card transfers, both accounts must be in your name; you cannot transfer from a credit card in your name to an account in someone else’s name. But once the funds are in your checking account, some financial institutions will allow you to send money to someone else’s account.

Transfer fees

Fees for this type of transaction vary by bank and by credit card issuer but are often between 3% and 5% of the transfer amount.

You should also keep in mind that you will accrue interest on whatever amount you transfer off of your credit card. Interest rates for cash advances like online transfers are often higher than your normal interest rate for purchases and accrue faster, sometimes daily.

Additionally, this type of transfer is usually not eligible for any rewards tied to your credit card, like points or cash back.

Banks That Let You Send Money From a Credit Card to a Bank Account

We contacted several major banks and credit card issuers to find out how to transfer money from a credit card to a bank account. Below, we’ve listed each bank’s policy.

Bank of America

  • Type of transfer(s) allowed: Internal and external. Direct deposit cash advance is available with most Bank of America credit cards (with the exception of some travel cards). You can transfer to an account within Bank of America or another financial institution.
  • How to transfer: You can request a transfer by calling Bank of America at (800) 432-1000, signing in to your online account, or through mobile banking. You will need to have the routing number and account number for the bank account you wish to transfer to. You will also need to have your credit card available to provide information from the card to the representative, such as the card number, security code, and the name as it appears on the card. You’ll then be able to let the representative know the amount you would like to transfer to the bank account. Alternately, you can enter the account information online or through the app when prompted, followed by the amount you would like to transfer.
  • Time frame: Direct deposit cash advances are often available the next business day but can take up to three business days. New credit card accounts have a 14-day waiting period before they can be used for transfers to a checking account.
  • Fees: Fees and rates will vary by card but are often around 3% of the amount you transfer with a $10 minimum fee. Promotional rates may sometimes be available. Keep in mind that you will also have to pay interest on the amount you transfer; interest rates vary by card.
  • Limits: You can transfer as much as you have in available credit, but, keep in mind, you must leave room on the card to cover any fees that will result from the transfer.
  • Source: Bank of America corporate customer service representatives; Bank of America website

BB&T

  • Type of transfer(s) allowed: Internal and external. Cash advance is available on all BB&T credit cards to a BB&T account or an account with another financial institution.
  • How to transfer: You can make a transfer by calling (800) 226-5228, through online banking, or through the mobile app. You will need to provide your BB&T credit card number, as well as the routing and account numbers for the account you wish to transfer to. Either provide the representative with this information over the phone or enter it when prompted online or through the app. You’ll then be asked how much you wish to send to your bank account to complete the transfer.
  • Time frame: If transferring to a BB&T account, the funds are often available the same day or the next business day. If transferring outside of BB&T, funds are usually available within three to seven business days.
  • Fees: Fees and rates vary by card but are usually around 3% of the transfer amount with a $10 minimum fee. You will also have to pay interest on the amount you transfer off of your credit card; interest rates vary by card.
  • Limits: You can transfer as much as you have in available credit. Make sure to leave enough funds to cover any fees.
  • Source: BB&T corporate customer service representatives; BB&T website

Citibank

  • Type of transfer(s) allowed: Internal and external. Most Citibank credit cards allow you to transfer funds to a bank account with Citi or another financial institution.
  • How to transfer: You can request a transfer by calling (800) 950-5114, by signing in to your online banking account, or through the Citi mobile app. You will need to provide your credit card number and the routing and account numbers for the bank account you wish to transfer funds to.
  • Time frame: Your credit card account must be active for at least 14 business days before you can request a transfer. The wait time may be longer if the bank account you are transferring to is new, as the bank may want to verify the account before allowing a transfer. Funds are usually available within one or two business days.
  • Fees: Fees vary by card but are often between 3% and 5% of the transfer amount with a $10 minimum fee. Interest may also be assessed for the transfer; interest rates vary by card.
  • Limits: You are limited to your available credit; you’ll need to consider that you’ll need to leave enough credit on the card to cover any fees that will be assessed for the transfer.
  • Source: Citibank corporate customer service representatives

Discover

  • Type of transfer(s) allowed: Internal and external. Discover offers cash advance to checking accounts of various financial institutions.
  • How to transfer: You can initiate a transfer from your Discover card to your checking account by calling (800) 347-2683 or by logging in to your online account. You will need to provide the routing and account numbers of the account you wish to transfer to. You will also need to meet the following requirements:
    • At least three payments in the last 12 months (excluding the last 30 days)
    • No returned payments in the last 12 months
    • Must have had the same address and phone number for at least the last 90 days
  • Time frame: Funds are usually available in your account within one to four business days.
  • Fees: Transfer fees are usually between 3% and 5% of the transfer amount with a $10 minimum fee. You should also expect to accrue interest on the transfer starting from the transaction date until it is repaid.
  • Limits: Your limit will depend on your available cash advance amount, which varies by card.
  • Source: Discover card customer service representatives; Discover card website

PNC Bank

  • Type of transfer(s) allowed: Internal only. You can transfer funds from a PNC credit card to a PNC checking account, but you cannot transfer to an external checking account.
  • How to transfer: You can initiate the transfer online by signing in to your PNC account. Select the credit card you want to transfer from, enter the amount you’d like to transfer, and select the PNC account you’d like to transfer to.
  • Time frame: Online transfers between PNC accounts are usually available the same day or the next business day.
  • Fees: There is a cash advance fee of 4% of the transfer amount or $10, whichever is greater. You may also accrue interest for the amount you transfer.
  • Limits: Your available credit is your transfer amount limit, though you should leave enough to cover any fees.
  • Source: PNC Bank corporate credit card customer service representatives

U.S. Bank

  • Type of transfer(s) allowed: Internal only. You can transfer funds from a U.S. Bank credit card to a U.S. Bank checking account, but you cannot transfer to an external checking account.
  • How to transfer: Sign in to your U.S. Bank online account and choose the option to “Get a Cash Advance.” Then select the U.S. Bank credit card you want to transfer from and the U.S. Bank account you want to transfer to. Enter the amount you wish to transfer, (there is a minimum transfer amount of $50).
  • Time frame: Funds are usually available the same day or the next business day.
  • Fees: Fees are typically 4% of the transfer amount or a minimum of $10. Interest rates will also accrue for the transferred amount.
  • Limits: Transfers are limited to a portion of your available credit limit, which differs by card but is often around 25% of your credit limit.
  • Source: U.S. Bank corporate credit card customer service representatives; U.S. Bank website

Wells Fargo

  • Type of transfer(s) allowed: Internal only. You may transfer funds from a Wells Fargo credit card into a Wells Fargo checking account, but you cannot transfer to an external checking account.
  • How to transfer: You’ll need to call the Wells Fargo credit card department at (800) 642-4720 to request a transfer to your Wells Fargo checking account. You should have your credit card and checking account numbers available when you call. You may also be able to transfer between accounts online by signing into your Wells Fargo account.
  • Time frame: Transfers amounts are sometimes available the same day but can take up to five business days.
  • Fees: The fee for transfers is usually around 5% of the transfer amount unless there is a current promotion. You may also accrue interest on the transfer at a higher rate than your normal interest rate for purchases.
  • Limits: Your limit is the amount of credit available on your card, but you should consider that you’ll need to leave room for fees.
  • Source: Wells Fargo corporate customer service representatives

Credit Cards That May Allow Transfers to a Bank Account

The following credit card issuers advised us that they may offer transfers from credit cards to bank accounts, but this feature is rare and not guaranteed. Availability is also based on factors like your credit score and payment history with the bank.

In addition, some banks require the credit card to be open for an extended amount of time before this type of transaction is allowed. For example, Chase requires a credit card to be opened for at least a year before it considers transfers to a checking account.

  • Chase
  • Citizens Bank

Credit Cards That Don’t Allow Transfers to Bank Accounts

The following credit card issuers advised us that while they offer balance transfers between credit cards, they do not offer transfers from credit cards to bank accounts:

  • Capital One
  • Fifth Third Bank

More Information

If you need cash in a hurry and can’t wait for a transfer from your credit card, see our articles on how to get cash from a credit card, one-hour payday loans, and payday and one-hour loans with no employment verification.

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