How to Send Money from Credit Card – Step-by-Step Guide

There are many methods of transferring money to another; one of them is using a credit card for transferring money in some emergency situation or when cash is not available. It is a practical option for sending money for any reason, like paying rent, utility bills, helping friends, repaying debt, and many more reasons, because this method is fast and convenient for money transactions, but it is important to know about this method properly, like the process, fees, and potential drawbacks.

Steps of How to Send Money from Credit Card

• Select Platform: It is important to select only verified applications like Paytm, PayPal, etc.

• Link Your Credit Card: Add your credit card to the selected platform; there will be small verification transactions. It depends on the platform to take or not.

• Add Recipient Details: Fill in the details needed in the platform, like bank account number, mobile wallet ID, or phone number.

• Transfer Amount: Enter the amount you wish to transfer.

• Complete Payment: Select credit card as a payment mode and authorize the transaction.

• Review Charges: Confirm the transaction fees and other necessary details, then complete the transaction.

Popular Platform For Sending Money From Credit Cards

Platform	Type of Transfer	Fees (Approx)	Transfer Method	Daily & Monthly Limits	Processing Time
Paytm	Wallet to Bank or UPI	2.5% + GST	Wallet or UPI	₹10,000/Day, ₹50,000/Month	Instant
MobiKwik	Wallet to Bank	2.9% + GST	Wallet	₹1,00,000 Per Month	Instant
Freecharge	Wallet to Bank	2.5% – 3%	Wallet	₹25,000 Per Month	Instant
PayPal	Domestic & International	2.9% + FX Charges	Email-Based Transfer	Depends on KYC	1–3 Business Days
Western Union	International Transfer	3%–4% + FX Charges	Bank or Cash Pickup	Country-Specific Limits	1–5 Business Days
Remitly	International Transfer	₹0–₹200 Flat Fee	Bank Account	₹5,00,000/Day	Within 24 Hours
PhonePe	UPI	Mostly Not Allowed	—-	—-	—-

Eligibility Criteria for How to Send Money from Credit Card

✅ Valid Credit Card: Issued by an Indian bank

✅ Good Credit History: May Restrict Usage For Defaulters

✅ Completed KYC: Important For Wallet-Based Platforms

✅ App Limitations: Daily/Monthly Limit Depend on App or RBI Rules

Document Required

• PAN Card: Mandatory For KYC

• Aadhaar/Address ID: Proof of Residence

• Credit Card Copy: Linked For Verification

• Bank Details: For Transferring Funds

Factors Need to be Ensure Before Transferring Money from Credit Card

Factor	Detail
Cash Advance Charges	Many banks consider wallet and bank transfers as cash advances (2.5%–3.5%)
Immediate Interest	Unlike purchases, interest applies from day one for fund transfers
Credit Limit Usage	High usage of credit cards reduces card limit and impacts negatively on credit score
Transaction Tracking	Always keep transaction ID and screenshots for record
Platform Restrictions	Some wallets block credit card usage for fund transfer to bank
Tax Implications	No tax unless used for business purposes, but keep track for clarity

Related Blog : What Is Minimum Amount Due in Credit Card? Explained

Conclusion

Sending money with the help of a credit card is a very useful method if used smartly and responsibly; it provides cash in an instant when needed at any time, but it can cause some trouble if not used carefully. That’s why you should always compare different platforms charges, not use a credit card for payment regularly, and repay on time. Do not be late in payment; it will lead to a debt trap.

Frequently Asked Questions for How to Send Money from Credit Card