Send Money To A Debit Or Credit Cardjust Like That
Sounds weird, right? You might think that you pay money from a card, not to a card. But thats exactly what you can now do. Rather than paying into someones bank account, you can transfer money straight to their debit or credit card. Its that simple, and there are heaps of benefits to sending money this way.
How To Send Money Online With A Credit Card For Overseas Transfers
Global money transfer platforms make it easy to send money to your country of choice online, using a credit card. Transferring money overseas with a credit card is a convenient way to fund transfers in advance and pay the money off at a later date.
We recommend storing your credit card details on your chosen remittance platform or creating an eWallet , which saves you from having to enter your card details each time you want to send money abroad and lets you make transfers in just a few clicks. Send money directly from your eWallet to a bank account overseas or to another eWallet, so family or friends can receive the money instantly.
Most online money transfer services enable you to use a debit card or transfer funds directly from your bank account, as you may be charged a small fee for using your credit card.
You can top up an eWallet via your credit card, debit card or bank transfer . To top up your eWallet via your credit card or debit card, youll need to enter the following:
- 16-digit number on your card
- Card expiration date
- 3-digital CVV code
Online money transfer platforms take the headache out of global remittance. Lets look at the key benefits of using your credit card to send money online to family abroad and the reasons to leave outdated transfer methods behind.
Banks Vs Money Transfer Providers For Credit Card Payments
Usually, if you decide to transfer money using your bank, your creditor will categorize the transfer as a cash advance. Your creditor will charge a fee, and if youre sending the money internationally, you also may have to pay a foreign transaction fee. A cash advance interest rate which is usually higher than the average credit card interest rate for purchases will also apply.
You can request that the cash advance get directly deposited into your bank account, or you can take the cash advance from an ATM or request a convenience check. Once you receive the funds or the check, you can deposit the money into your bank account.
On the other hand, when you use a money transfer service, you will link a credit card to your account. This gives you the ability to send money, often within minutes. However, depending on the company, you may have to pay a fee for the transaction. Creditors generally treat this transaction just like any other purchase transaction, meaning the purchase APR on a credit card will apply.
Recommended Reading: Cfna National Credit Cards Airlines
Things To Consider When Transferring Money From A Credit Card
Although using credit cards to send money is a convenient solution, its not always advisable. When you have the choice, using cash or your savings is a better option since you can avoid paying high fees or going into debt that might not be easy to shake .
But, if you find yourself in a bind and have limited options, you may need to send money with a credit card. Before you do so, however, here are a few considerations to keep in mind.
Transfer Money From A Credit Card To A Bank Account
There are several ways in which you can transfer money from a credit card to a bank account. However, this depends on your bank or credit card issuer, so its best to research beforehand to gauge which options are available to you.
A popular method of transferring money from a card to an account is via a direct transfer. This can be completed in person, and online in some account cases, and is usually used if you or a loved one requires the money within a short amount of time.
Another way is to withdraw money from an ATM and simply deposit this into your bank account. However, this method isnt best suited if you wish to send the money overseas or the person whose account you want to deposit into isnt present with you. An easier way, in this instance, would be to send a check, which they could then deposit into their account themselves.
If you need to send money from a credit card to a bank account urgently, you can opt for a cash advance. More commonly used for financial emergencies, a cash advance acts as a loan taken out on a credit card, which can then be deposited into a bank account. This must then be paid back with interest this starts accruing as soon as the money is taken from the card.
Recommended Reading: Ulta Rewards Points Redeem
Can You Transfer Money From A Credit Card To A Bank Account Easily
Sending money from a credit card direct to a bank account is one of the most popular ways of sending money, especially when wanting to support friends and family overseas. At Western Union, we make the process incredibly accessible and reliable, so you know your money will arrive in your loved ones bank accounts whenever they need it, wherever they are.
Can You Transfer Money From A Credit Card To A Checking Account
If you have a financial emergency and choose to take cash out via your credit card account, the way you’d do this is through a cash advance. This is a loan you must repay and that can’t exceed the current balance available on your credit card. Be aware that interest starts accruing on the cash withdrawal as soon as you take it out. There’s no grace period like there is with a typical credit card purchase, so if you need the money for something that you could just pay for with your card, it’s better to do that.
But if you need cash, the process for getting your money depends on your credit card issuer, so you’ll need to find out what they offer. Here are a few ways you can typically get cash advance money into your bank account:
Recommended Reading: How To Activate Cabelas Credit Card
Frequently Asked Questions About Sending Money Online From Canada
Its quick and easy to send money online from Canada directly to your receivers bank account. Send to a qualifying bank account using your credit/Visa debit card2 or pay by bank transfer. Heres how:
1. Log in or register and verify your free profile. Click Send now to start your transfer.2. Enter the destination and amount youd like to send. Transaction times vary per destination, but youll be able to view the times as you make your selections.3. Select Bank account. You can select a past receiver or enter your receivers bank account details.4. Pay with your credit/Visa debit card.5. We will send you a confirmation email with a tracking number of your transaction . You can share this number with your receiver to track the funds.
If you need to send money urgently, sending money online for cash pickup is a fast and convenient option. Simply pay by credit/Visa debit card2, or by bank transfer and the money is ready for cash pick up in minutes3.
If paying by credit/Visa debit card:
1. Log in or register and verify your free profile. Click Send now to start your transfer.2. Enter the destination and amount youd like to send. Select Cash pick-up and payment by card.3. Enter your receivers name and address.4. Pay with your credit/Visa debit card.5. We will send you a confirmation email with a tracking number for your transaction . Share this number with your receiver for fast cash pickup.
If paying by bank transfer:
Try Wise An Easy Way To Send Money Abroad With Credit Card
If youre sending money overseas with your credit card dont pay more than you need to. Get Wise for low cost international transfers which use the mid-market exchange rate with no hidden fees.
Just set up your payment in the Wise app or desktop site to see instantly the exchange rate and fee options available, pay with your credit card, and the money will be moved right away to your recipients bank account. No hidden costs, no sneaky exchange rate markups and no hassle.
Sending money from a credit card can be a convenient option but its not always the cheapest. Thats why its important you look out for all the possible fees involved in your payment to get the best deal.
And if youre sending money from your credit card to someone overseas, check out Wise to get a better exchange rate and pay less overall.
Read Also: Prequalify For Sears Credit Card
Sending And Receiving Options
Once youre ready to send money to a recipient, simply click on the Send button. Enter the amount you wish to send, the recipients details, and take a picture of the card that will be used for the transfer. Your card has a CVV/CVC number enter that. Next, input the 5-digit security code and confirm the transaction. It is important to point out that you need to enter your Paysend cards details as well as the recipients Paysend card details to process transactions. It is possible to transfer funds to bank accounts too.
What Are The Alternatives To Using Credit Cards For Sending Money Overseas
- Bank transfer: You can make international bank transfers from your bank account. Banks provide multiple ways to transfer funds, but you need to pay for them regardless of the method you choose. The downside with bank transfers is that they tend to attract higher fees compared to other payment services. This means bank transfers are convenient and safe but not always the most cost-effective.
- Debit card: You can use your debit card for sending money the same way you would use a credit card, routing your transaction via bank or money transfer provider. However, a debit card transfer is not as expensive as a credit card transfer because you do not have to pay the cash advance fee and other fees that come with using a credit card.
- Money transfer services: There are specialised online payment services that let you transfer funds to any part of the world conveniently and at very competitive rates. They offer a variety of ways to fund your transaction, including bank transfer, debit card or e-wallet, depending on the service you choose. Many will also allow you to use your credit card as a payment method, which can be advantageous for the reasons summarised below. These services often charge minimal transfer fees and lower exchange rate margins than other payment options. Weve put together a list of top 10 money transfer companies to get you started.
Also Check: Www.lowesvisacredit.com
Global Money Transfers Made Simple: Send Money Online Using A Credit Card
In a digital age where payments in shops, cafes and supermarkets can be made in seconds with a bank card or smartphone, people living and working abroad shouldnt need to queue at banks or high street agents to send money to loved ones back home. It should be as easy as paying for groceries or topping up your railcard. The good news is that money transfer platforms enable you to send money online with credit card quickly and securely.
Sending Money From Credit Card To Credit Card
Sending money from card to card is a less popular way of transferring money, and not always the best option.
Its more popular to pay by credit card and send money to a bank account, from which the funds will then be transferred to your card balance or used directly with the bank accounts associated card. Weve covered this in more detail in our guide on making card-to-card transfers.
Recommended Reading: What Bank Does Best Buy Use For Credit Cards
How To Send Bank Deposits To The United States
Step 1: Just tell us how much to deposit. Step 2: Choose Bank Deposit, or Debit Card Deposit if youre sending to a debit card. Step 3: Choose any bank in the US, including Bank of America, Chase, Wells Fargo, and Citibank. Step 4: Enter your recipient’s account or debit card details on our secure page. Step 5: Conveniently pay with your bank account, credit card, debit card, or PayPal account. View all banks
Alternatives To Get The Cash You Need
Transferring money from your credit card to your bank account is not ideal due to the hefty transaction fees and inconvenience. To avoid using cash advances, there are several alternatives listed below.
Build An Emergency Fund
Having an emergency fund can reduce your dependency on financing when an unexpected expense pops up or youre tight on cash. As little as $500 in savings can go a long way.
A personal loan can be an excellent financing alternative. The on a personal loan is typically lower than the interest rate on cash advances, you can get the funds into your bank account within one business day and have the opportunity to obtain more cash. Youll get more than you bargained for with a personal loan.
Borrow From a Friend or Family Member
If the expense isnt an exorbitant amount of money, asking a friend or family to help you out until you can repay them is an excellent option. If theyre a good friend or family member, they wont charge you interest.
Overdraft Your Chequing Account
Banks offer overdraft on chequing accounts which allows you to withdraw more than whats available in your account. There is typically a small monthly fee administered by your bank to allow you to use an overdraft. In addition, there may also be a limit as to how much you can dip below $0 in your account.
Read Also: Best Buy Card App
How Does Visa Direct Work
How Do I Send Money Internationally Using My Debit Card
Even if you dont 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 youll 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 youll 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. 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.
- Square Cash. With Square Cash, its free to load money with a debit card. Its 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 Square Cash to their bank account. However, they can pay a 1% fee to withdraw the money immediately.
- Venmo.Venmo doesnt offer instant withdrawals, but you can use it to send free transfers via debit card.
You May Like: Check Balance Cabela’s Gift Card
How To Send A Payment To Someone Online Using A Credit Card
Exchanging money has become simple in the digital world with companies like Paypal, Amazon and Square offering solutions from your computer or mobile device. These three allow the sender to make a payment to someone using a credit card, while others like Google Wallet don’t yet allow a credit card provision. In order to complete the transaction, both the recipient and sender need to have an account with the respective company.
How Do I Transfer Money From My Credit Card To My Bank Account
Fortunately, your options are not limited when it comes to transferring money from your credit card to your bank account. You can complete the transaction through a teller or ATM, use a convenience cheque, or through online banking. Lets explore how all of these options work in depth below.
Use A Teller Or ATM
When you bring your debit card to a teller or ATM, you can withdraw cash. The same is true when you use your credit card. You can either keep the cash or deposit it into your bank account once cash has been withdrawn. Keep in mind that not all ATMs allow cash deposits, but tellers do.
Sometimes credit card providers issue complimentary credit card convenience cheques. When you use one of these cheques, it is as if you tapped, swiped, or inserted your credit card. You can use the cheque to deposit funds into your bank account or withdraw cash. Depending on the credit card provider, a cashed credit card convenience cheque could be treated as a cash advance. Be sure to read the fine print to fully understand how the convenience cheque will be treated.
Make A Transfer Online
So long as the credit card and the bank account youd like to deposit the funds to are with the same bank, you can perform an online transfer. Its as simple as logging into your online bank account and transferring the funds from your credit card to your bank account.
Do you know what the true cost of borrowing is? Check out this infographic to learn.
Read Also: Fortiva Pre Qualify