You can transfer money from a credit card to a bank account, but it's expensive to do so. Some articles say that you can wire from your credit card company to your bank account, but that's not true.
Here are some ways to make the transfer:
Cash Advances: You can use your card at an ATM to perform a cash advance. Once you’ve obtained cash or money order, deposit it into your bank account. Many banks allow deposits through ATMs. You may also be able to make your deposit at a branch. We strongly advise against taking out cash advances unless other options are not available. You can find out why in our article here.
Convenience Checks: Sometimes, credit card companies will give you convenience checks. In these cases, you can write a check, but make sure you are aware of the fees and interest rate the credit card company is going to assess on the amount of that check.
Money-transfer services: You can use services like Western Union and MoneyGram, which allow you to transfer funds with a credit card online or from any of their locations. They let you identify the recipient with a phone number or email address.
PayPal: They will require the email address for the recipient. Once the recipient receives the money, it usually takes just one business day to transfer it to their bank account. You’ll pay a fee of 2.9 percent plus 30 cents of the amount you send and you can send up to $10,000 in a single transaction once you verify your account.
Amazon Pay: Amazon Pay accounts can be linked to bank accounts or credit or debit cards. Simply ask the recipient for their Amazon "Recipient Name". Make sure you label your payment as "goods and services," otherwise your credit card company charges you for a cash advance. Amazon provides free transactions for payments up to $1,000 per month. Anything over this amount is charged the same way PayPal does – at 2.9 percent plus $0.30 per transaction.
Square Cash: After you download the app, link your credit card to the app account. With the phone number of the recipient, you can make a payment by simply tapping the "Pay" button. Using a credit card to send money would incur a 3 percent fee which is added to the payment total.
Venmo: If you choose to send money using a credit card, you’ll pay a fee of 3 percent. Bank transfers typically take one business day. There’s a weekly rolling limit of $2,999.99 for sending funds through Venmo once you verify your identity.
We recommend using these platforms only with people you know and trust.
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