Can I transfer money from a credit card to a bank account?
Yes, some banks allow you to transfer money from your credit card to a bank account – including the Big Four. Here's what you need to know.
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When you transfer money from a credit card to a bank account, it's actually considered a type of cash advance transaction, similar to getting cash out at an ATM. This means you'll pay cash advance fees and higher interest rates. Some credit cards won't even offer a transfer but there are lots that do – including cards from ANZ, CommBank, NAB and Westpac.
The first step is to check if your credit card account gives you this option by logging into your account or contacting the provider.
When it's allowed, you can usually make the transfer online, through your bank's mobile app or over the phone. We've outlined the basic steps for these options below, although it will be a bit different for each provider.
If you're transferring funds to an account with the same bank, the money should be available instantly, or within a day. If the transfer is to an account with a different institution, allow 2-3 business days for the transaction to be completed.
Note: Sometimes you may only be able to transfer funds to a linked transaction account with the same bank.
Providers | Do they allow money transfers from credit card to bank accounts? | Key details |
---|---|---|
![]() | N/A | |
![]() | 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. | |
![]() | 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. | |
![]() | 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). | |
![]() | 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). | |
![]() | 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). | |
![]() | N/A | |
![]() | 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. | |
![]() | 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. | |
![]() | N/A | |
![]() | 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. | |
![]() | N/A | |
![]() | 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. | |
![]() | N/A | |
![]() | 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). | |
![]() | N/A | |
![]() | N/A | |
![]() | You can transfer funds from your Westpac credit card to your other Westpac accounts using the Westpac app or Internet banking. |
The amount you'll be able to send to a bank account from your credit card will depend on your credit limit and the credit card provider. This type of transfer is usually considered a cash advance transaction, so you may only be able to transfer a portion of your available credit limit. You can find these details in your online account, or by asking your credit card company.
Make sure you consider these factors and potential costs before you go ahead with a transfer from your credit card to a bank account.
Here are some alternatives you can look at if you're unable to transfer funds from your credit card to a bank account:
Getting ready to transfer money from your credit card? Find out what happens when you make a cash advance. And if you want more money in the bank without using your credit card to get it, opening a high-interest savings account is a great place to start.
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How can I transfer money from credit card to a bank account but the credit card doesn’t have the expiration date or the CVV number waiting on the new card but this one is working just can’t deposit money?
Hi Donna,
Thank you for getting in touch with Finder.
You may process it online or over the phone. I’m afraid that you need to wait for your valid card for the required details like CVV and expiry date to successfully transfer money from your credit card to your bank account online.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
How to transfer cash from credit card to a normal savings account?
Hello Nasish,
Thank you for your comment.
Yes, it’s possible to transfer amount from credit card to a bank account. Firstly, since not all credit cards allow this kind of transfer, you must contact your credit card issuer and verify if a transfer is possible. Next is to call your bank and check if your account can accept transfers from credit accounts. If yes for both, then you can do the transfer through online or over the phone.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn