How to send money from a credit card

United States By Christy Lowry April 6, 2022

Article summary

There are many reasons why you may want to transfer money using a credit card—from paying bills to simply showing your friends and family that you care. When you transfer from a credit card to your loved ones, you’re sending much more than money. So, it’s important that you understand the ins-and-outs of the process, plus the different ways you can send money with a credit card across the globe.

In this article

Different ways to transfer money using a credit card

Although transferring money from a credit card is a simple and easy process, there are multiple ways you can do so. Whether you want to send funds directly to a bank account or debit card, or use money transfer services, it’s all about finding the process that works best for you.

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 it’s best to research beforehand to gauge which options are available to you.

An easy and 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 isn’t best suited if you wish to send the money overseas or the person whose account you want to deposit into isn’t 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, which typically starts accruing as soon as the money is taken from the card.

Send money from a credit card using money transfer providers

Transferring money from a credit card to a bank account via a money transfer service is very straightforward. For example, with Western Union, you simply choose the country you wish to send money to, the amount, and provide the account details. Then, we do all the hard work.

The money transfer service will then contact the recipient’s bank with all the necessary information needed for them to receive the money. This is a quick and accessible way for you to send some money and support loved ones anywhere in the world.

Transfer money from a credit card to a debit card

You can transfer money from a credit card to a debit card quickly and easily. The quickest option is to make a simple bank transfer either online or in person at your local branch, as long as you have the details of both accounts in question.

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.

How can I send money with my credit card with Western Union?

Western Union makes it easy to send money with a credit card. With Western Union, you can transfer money using a credit card online, via our app, or at one of our handy local agent locations. All you need to do is have the information of both accounts involved in the transfer (sender and receiver), choose how much you want to send, and where you want to send it.

Sending money with a credit card online or with our app is quick and easy and can be done in just a few clicks. If you want to use our app to send money with a credit card, you can scan your credit card using your smartphone’s camera to save time and avoid mistakes. If you want to send money in person, you need to find your local agent and bring the necessary account details, along with your card and proof of identity.

We make it easy to support friends and family, wherever in the world they may be. All you need to do is sign up for a Western Union account, and you’ll be ready to make your first transfer.

Will sending money from a credit card affect your credit score?

When you transfer money using a credit card, it can negatively affect your credit score if you are using a balance transfer or cash advance that you fail to pay back on time. If you do pay the loan back in full, in the long term, this can positively affect your credit score, as with any successful loan repayment.

However, it’s worth keeping in mind that any change in credit balance can affect your credit score, for example, if you go into your overdraft.

What are the advantages and disadvantages of transferring money from a credit card?

Although transferring money from a credit card to a bank account is convenient, there are pros and cons to the process that you will need to consider.

Advantages of sending money with a credit card

  • It is generally a quick and straight-forward process.
    • It can be done in a variety of ways, including online or in person, so it’s great in emergencies.
    • It can positively affect your credit score if you pay a loan back on time.

Disadvantages of sending money with a credit card

  • It can negatively affect your credit score if it’s money you don’t have and you fail to pay the loan back.
    • If taking out a loan, you will immediately start accruing interest.
    • Balance transfers can incur extra fees.
    • If you’re not careful, transferring money from a credit card can lead to further debt.

What else should you know about how to send money using a credit card?

Overall, the main consideration when you transfer money from a credit card to a bank account or loved one is the possible impact it can have on your credit score. You should also be aware of interest rates and debt implications.

If you can, it’s best to transfer money from debit card accounts to avoid the risk of going into your overdraft and accruing debt-related fees. If the money is for an emergency, it’s also a good idea to seek out financial advice from your bank or financial advisor.

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