How to Transfer Money Using a Credit Card into Your Bank Account

Money transfers used to be time consuming and expensive due to the detailed involvement of a bank having to wire money. If you're in a situation where you need to transfer money using a credit card into your bank account, you can transfer online, use an online service such as PayPal or an ATM machine.

Instructions

Transfer Online

1

Visit your online banking website and inquire about transferring money using your credit card. Many online banks allow the customer to use a credit card to transfer funds into his or her account or make a deposit into another person's account.

2

Select the option to send money. You can either send money to yourself or to someone else.

3

Follow the prompts and use your credit card to complete the transaction.

Use PayPal

4

Use www.paypal.com if your bank does not offer this service.

5

Set up a PayPal account and send yourself an invoice or money request. You will receive an email requesting money.

6

Open the email and follow the directions. At the payment screen, put in your credit card information and you will see the funds deposited in your PayPal account within seconds.

7

Choose to withdraw your PayPal money by requesting a wire transfer into your bank account. You must firm confirm your checking or savings account information. PayPal does this by wiring you a few cents. PayPal then asks how much it sent. Look at your online bank account statement to confirm this information.

Use an ATM

8

Use the ATM to take out a cash advance on your credit card.

9

Place you credit card in the ATM. Use your PIN and withdraw cash from the machine.

10

Deposit the cash into any account you want.