The main ways to move credit card money to a bank account
You cannot transfer a credit card balance directly into a bank account the way you would move money between two bank accounts. What you can do depends on what you actually need: if you want to pay down the card itself, you transfer from your bank to the card. If you need cash from the card, you take a cash advance. If you want to move a balance to a different card with better terms, you request a balance transfer. Each method costs different amounts and takes different time.
The most common reason people ask this question is that they need cash urgently and the credit card is their only available source of funds. A cash advance is the fastest way to get money into your bank account, but it is also the most expensive — you pay a fee upfront (usually 3 to 5 percent of the amount) plus interest that starts accruing immediately, often at a higher rate than your regular purchase APR.
If you are trying to pay down the credit card balance itself, you would transfer money from your bank account to the card, not the other way around. That is free and takes one to three business days depending on your bank and card issuer.
Key Takeaways
- A cash advance puts money in your bank account within one business day but costs 3 to 5 percent upfront plus interest starting immediately.
- Balance transfers move your debt to a different card and may offer a 0 percent introductory period, but require a new card and take 5 to 14 days to complete.
- Paying your credit card from your bank account (the reverse direction) is free and takes one to three business days.
- Some credit cards let you transfer to a linked bank account through the card's app or website, but this is still a cash advance with the same fees and interest.
Cash advances: fastest but most expensive
A cash advance withdraws money against your credit card's available credit and deposits it into your bank account. You can request one through your card issuer's website, mobile app, or by calling the customer service number on the back of your card. Most issuers process cash advances within one business day, though some may take up to two.
The cost is immediate and substantial. You pay a cash advance fee — typically 3 to 5 percent of the amount you withdraw, with a minimum fee of $5 to $10. On a $500 advance, that is $15 to $25 just to get the money. Interest starts accruing the same day, usually at your card's cash advance APR, which is often 2 to 5 percentage points higher than your purchase APR. There is no grace period for cash advances like there is for purchases.
If your card issuer offers it, you can also get a cash advance at an ATM using your credit card PIN, but this carries the same fees and interest. Some issuers charge an additional ATM operator fee on top of their own cash advance fee.
Balance transfers: moving debt to a different card
A balance transfer moves your credit card debt from one card to another, usually one with a lower interest rate or an introductory 0 percent APR period. This does not put money in your bank account — it moves your balance to a different card. But if you need to reduce what you owe on your current card and have access to another card, this can be cheaper than a cash advance over time.
To request a balance transfer, contact the card you want to transfer the balance to (the new card). You will need to provide the account number of the card you are transferring from and the amount. The new card issuer will contact your current issuer and arrange the transfer, which typically takes 5 to 14 business days. During this time, you still owe your original card, so keep making payments on it until the transfer completes.
Balance transfers usually cost 3 to 5 percent of the amount transferred, charged upfront and added to your new balance. However, if the new card offers a 0 percent introductory APR for 6 to 21 months (depending on the card), you can pay down the balance interest-free during that period, which saves money compared to a cash advance.
Paying your card from your bank account (the reverse direction)
If what you actually need is to reduce your credit card balance, you transfer money from your bank account to your credit card. This is free and is the normal way to pay down a card. You can set this up through your card issuer's website or app, or by calling customer service. Most transfers complete within one to three business days.
Some card issuers also let you link your bank account and make instant transfers for a small fee (usually $0 to $2), though this is optional. The standard free transfer is the default and takes the longest but costs nothing.
Transfers through third-party apps and services
Some payment apps like PayPal, Square Cash, or Venmo let you add a credit card and then transfer the balance to a linked bank account. However, these services treat the transaction as a cash advance, not a standard transfer, so you pay the same 3 to 5 percent fee and interest. The advantage is that some apps process the transfer faster (sometimes within hours), but the cost is identical to requesting a cash advance directly from your card issuer.
A few newer fintech services advertise "credit card to bank account" transfers with lower fees, but read the terms carefully — many charge monthly subscription fees or require you to use their app for other services. The total cost often exceeds what you would pay through a standard cash advance.
What to do if you need money urgently
If you need cash in your bank account today or tomorrow, a cash advance is your only option. Request it through your card issuer's app or website, or call the number on the back of your card. Most issuers process requests submitted before 2 p.m. Eastern time the same business day, with funds arriving by the next morning.
Before you take a cash advance, calculate the total cost: the upfront fee plus the interest you will pay if you cannot pay it back quickly. On a $500 advance at 5 percent fee plus 25 percent APR, you owe $25 immediately and then $10.42 per month in interest if you do not pay it back. If you can borrow the money from a friend, family member, or personal loan instead, that is usually cheaper.
If you do not need the money immediately, a balance transfer to a 0 percent card is cheaper over time, even though it takes 5 to 14 days to complete.
Fees and interest rates vary by card and issuer
Your specific cash advance fee, interest rate, and processing time depend on your card issuer and your account. Check your card's terms and conditions or log into your account to find your cash advance APR and fee. Some cards offer lower cash advance fees for existing cardholders or during promotional periods.
If you have multiple credit cards, compare the cash advance fees and APRs across all of them before you request an advance. A card with a 3 percent fee and 20 percent APR is cheaper than one with a 5 percent fee and 25 percent APR, especially if you cannot pay back the advance immediately.
Frequently Asked Questions
How long does it take to move money from a credit card to a bank account?
A cash advance typically arrives within one business day if you request it before 2 p.m. Eastern time on a weekday. Some issuers offer faster processing (same day or within hours) through their mobile app. A balance transfer to a different card takes 5 to 14 business days to complete.
Can I transfer my credit card balance to my bank account for free?
No. Moving money from a credit card to a bank account is treated as a cash advance and costs 3 to 5 percent upfront plus interest. Paying your credit card from your bank account (the reverse) is free and takes one to three business days.
What is the difference between a cash advance and a balance transfer?
A cash advance puts money in your bank account but costs more in fees and interest. A balance transfer moves your debt to a different card, which does not give you cash but may offer a 0 percent introductory period that saves money over time. Use a cash advance if you need cash now; use a balance transfer if you want to reduce interest on existing debt.
Will a cash advance hurt my credit score?
A cash advance itself does not hurt your score, but it increases your credit utilization (the percentage of your available credit you are using), which can lower your score slightly. Paying it back quickly brings your utilization back down. Missing payments on the advance will hurt your score.
Can I use a credit card cash advance to pay another bill?
Yes. Once the cash advance is in your bank account, you can use it for any purpose — paying another bill, covering an expense, or anything else. However, remember that you are paying 3 to 5 percent upfront plus interest, so the money is expensive and should be paid back as soon as possible.