You can’t use a credit card in some cases like getting a mortgage, buying stocks or sending money orders, etc. In such a situation, there is an option to transfer money from credit card to your bank account. However, you may have to pay charges for this.
Credit cards prove to be extremely helpful when you need money urgently and you do not have it. However, it is good only if the credit card is used wisely and the bills are paid on time. Otherwise you may also get trapped in the trap of debt. Along with understanding the importance of credit card, you also have to understand that you cannot use it in some cases like mortgage, buying stocks or sending money orders etc. In such a situation, you have an option to transfer money from credit card to your bank account. This process allows you to access funds when credit card payments are not accepted.
Transfer money from credit card through net banking
- First of all, go to the official website of your bank or open the mobile banking app.
- Now log in to your net banking account using your login details.
- After logging in, go to the Credit Card section to access your credit card account details.
- Here in the Credit Card section, select the Fund Transfer option.
- Navigate and click on Transfer to bank account.
- Now enter the amount you want to transfer and the bank account details to which you want to send the money.
- Now verify all the details correctly.
- Confirm the transfer request and enter the OTP or any required security measures
Review the transaction confirmation and make a note of the reference number or transaction ID provided.
Keep these things in mind before transferring money
Before transferring money from credit card to bank account, make sure that there is sufficient credit available on your card. Be aware of any fees and interest rates associated with fund transfers. Credit card companies often charge a processing fee, which is usually between 1% and 5% of the amount being transferred. Prioritize security when transferring money. Use trusted and secure platforms for transactions, and never share information like your credit card CVV, PIN or OTP with anyone.
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