You can transfer money from a credit card to a bank account, but…

Credit card providers that allow transfers to bank accounts

Providers	Do they allow money transfers from credit card to bank accounts?	Key details
	No	N/A
	Yes	You can use ANZ Pay Anyone to transfer funds from your credit card to an account with any Australian financial institution. This is treated as a cash advance transaction, which attracts a cash advance fee and interest charges.
	Yes	You can transfer funds from your Bankwest credit card to a Bankwest bank account by choosing the "Internal Transfers" option when you're logged into your account. This is treated as a cash advance transaction, which attracts a cash advance fee and interest charges.
	Yes	If you transfer funds from your credit card to another account, it will be treated as a cash advance transaction and attract a cash advance fee and interest charges (unless it is done as a balance transfer).
	Yes	If you transfer funds from your credit card to another account, it will be treated as a cash advance transaction and attract a cash advance fee and interest charges (unless it is done as a balance transfer).
	Yes	If you transfer funds from your credit card to another account, it will be treated as a cash advance transaction and attract a cash advance fee and interest charges (unless it is done as a balance transfer).
	No	N/A
	Yes	You can use the Citi PayAll service to transfer funds from your credit card to an Australian bank account. A Citi PayAll fee worth 0.95% of the transaction applies.
	Yes	If you transfer funds from your credit card to another account, it will be treated as a cash advance transaction and attract a cash advance fee and interest charges.
	No	N/A
	Yes	The only time you could transfer funds from your HSBC credit card is if you are offered a Credit Card Cash Transfer. You can log into your account to see if an offer is available. If it is, you can fill in a form to request a transfer.
	No	N/A
	Yes	You can make a transfer from your credit card to a NAB bank account or to another non-credit card account. If the transfer is to a different Australian financial institution, you will need the BSB, account number and the name on the account.
	No	N/A
	Yes	If you transfer funds from your credit card to another account, it will be treated as a cash advance transaction and attract a cash advance fee and interest charges (unless it is done as a balance transfer).
	No	N/A
	No	N/A
	Yes	You can transfer funds from your Westpac credit card to your other Westpac accounts using the Westpac app or Internet banking.

How to transfer money from a credit card to a bank account

If you are determined to transfer money from your credit card, the first step is to check if your credit card account gives you this option.

Do this by logging into your account, contacting the card company or checking the fine print in the card's terms and conditions.

Online and mobile banking

1. Log in to your credit card account.
2. Select the "Transfer" option.
3. Enter the amount you want to transfer.
4. Enter the bank account number, BSB and any other details listed on the form.
5. Follow the prompts to complete the transaction.

Over the phone

1. Call your credit card provider and follow the steps to verify your account.
2. Request a transfer to a bank account.
3. Confirm how much you want to transfer to the bank account.
4. Provide the bank account number, BSB and any other requested details.
5. Follow the prompts to complete the transaction.

How much can I transfer?

This type of transfer is considered a cash advance transaction, so you may only be able to transfer a portion of your available credit limit.

How can I transfer money from my credit card to someone's bank account?

It's the same process as outlined above, but you replace your bank account details with the details of the recipient's bank account.

Note: Sometimes you may only be able to transfer funds to a linked transaction account with the same bank. Which means you can't send money to someone else from a credit card.

Should I transfer money from a credit card to a bank account?

It's very expensive to transfer money from a credit card to a bank account. Here's why.

• Cash advance fee. If the transfer is considered a cash advance transaction (and it usually will be), then you'll pay a fee worth around 3% of the total you send to your bank account.
• Cash advance interest rate. In most cases, your transfer will be charged interest at the cash advance rate. This rate is usually higher than the interest rate charged for regular purchases and can quickly add up.
• No interest-free days. Your transfer won't be eligible for interest-free days, which means you'll be charged interest straight away.
• Transaction fees. Even if the transfer is not processed as a cash advance transaction, a fee may apply. Check the fine print or call your provider before making a transfer so you know exactly what you'll pay.

Ultimately it's your decision. If you can quickly repay the money and it's an emergency, it might not cost too much. But you really need to understand the cost of transferring money from a credit card like this.

Example

You transfer $2,000 from your credit card to your bank account.

Your card has a 22% cash advance rate and charges a 3% cash advance fee.

This means you're getting charged a $60 fee and $1.20 interest every day until you repay the $2,000.

Images: Shutterstock

Written by

Amy Bradney-George

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise

Amy has written 565 Finder guides across topics including:

• Credit cards
• Frequent flyer
• Credit score
• BNPL
• Money management
• Sustainability

Co-written by

Richard Whitten

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise

Richard has written 553 Finder guides across topics including:

• Home loans
• Property
• Personal finance
• Money-saving tips