Yes, but it costs money and counts as a cash advance

You can transfer money from a credit card to a bank account, but the credit card company treats it as a cash advance, not a regular purchase. This matters because cash advances carry higher fees and interest rates than regular credit card charges. Most credit card issuers charge a cash advance fee (usually 3 to 5 percent of the amount) plus a higher interest rate that starts accruing immediately—often 2 to 3 percentage points above your regular APR. There is no grace period like there is for purchases.

The method you use depends on what your credit card issuer offers. Some banks let you transfer money directly through their app or website. Others require you to use a third-party service or visit an ATM. The speed and cost vary significantly by method, so understanding your options before you move money will save you from surprise charges.

Key Takeaways

  • Credit card cash advances charge a fee (typically 3 to 5 percent) plus a higher interest rate that starts immediately, with no grace period.
  • Direct transfers through your credit card issuer's app or website are usually the cheapest option if available, though they still carry a cash advance fee.
  • ATM withdrawals and third-party transfer services cost more and may have daily or transaction limits that prevent you from moving large amounts at once.
  • The money lands in your bank account within one to three business days for most methods, but interest accrues from the day of the transfer.
  • If you need money urgently, a personal loan or balance transfer card may cost less than a cash advance, depending on your credit and the amount.

Direct transfer through your credit card issuer

Most major credit card companies—Visa, Mastercard, American Express, Discover—allow you to transfer funds directly from your credit card to a linked bank account through their mobile app or website. Log into your account, look for a "transfer" or "cash advance" option, and enter your bank account details and the amount you want to move. The issuer will ask you to confirm the transaction and show you the fee upfront before you complete it.

This method is usually the cheapest because you avoid ATM fees or third-party service charges. The money typically arrives in your bank account within one to three business days. However, you still pay the cash advance fee and the higher interest rate. Some issuers cap how much you can transfer in a single transaction or per day—this limit is often lower than your credit limit, so check your account details first.

ATM withdrawal and deposit

You can withdraw cash from an ATM using your credit card, then deposit it into your bank account. This method works if you need physical cash or if your credit card issuer does not offer direct transfers. However, it is the most expensive route: you pay the cash advance fee from your credit card company, plus an ATM operator fee if you use an out-of-network machine (typically $2 to $3). If you deposit the cash at a bank branch or ATM that is not your own bank, you may face a deposit fee as well.

ATM withdrawal limits are usually lower than your credit limit—often $500 to $1,000 per day—so moving large amounts requires multiple transactions over several days. Each withdrawal triggers a separate cash advance fee, which compounds the cost. The cash is in your bank account immediately if you deposit it at your own bank's ATM or branch, but the interest on the credit card cash advance starts accruing the moment you withdraw it.

Third-party money transfer services

Services like PayPal, Square Cash, Venmo, and other peer-to-peer platforms sometimes allow you to add a credit card as a payment method and transfer money to your bank account. However, most of these services treat credit card transactions as cash advances or charge a separate fee for credit card funding—often 2 to 3 percent of the amount. Some services do not accept credit cards at all for transfers to bank accounts, only for sending money to other people.

Before you use a third-party service, check whether it charges a fee for credit card transfers and whether that fee is in addition to your credit card company's cash advance fee. You may end up paying 5 to 8 percent in total fees, which is significantly more than a direct transfer through your issuer. The money usually arrives in one to three business days, and interest accrues from the transfer date.

Balance transfer cards as a lower-cost alternative

If you need to move money regularly or in large amounts, a balance transfer card may cost less than repeated cash advances. Some credit card issuers offer cards with a 0 percent introductory APR on balance transfers for 6 to 21 months (depending on the card and issuer). You transfer your balance from your current card to the new card, then withdraw the money as a cash advance or transfer it to your bank account.

The catch is that balance transfer cards charge an upfront fee (typically 3 to 5 percent) and require a credit check and approval. This approach only makes sense if you are moving a large amount and can pay it off during the 0 percent period. For small, one-time transfers, the application process and approval time are not worth the savings.

Personal loans as a cheaper option for larger amounts

If you need to move $1,000 or more, a personal loan from a bank, credit union, or online lender may have a lower total cost than a cash advance. Personal loans charge interest, but the rate is usually lower than a credit card cash advance rate, and you know the exact payment schedule upfront. A $5,000 personal loan at 10 percent APR costs less in interest than a $5,000 cash advance at 25 percent APR, even though the personal loan takes longer to repay.

Personal loans require an application and credit check, so approval takes one to five business days. Once approved, the money lands in your bank account within one to three business days. If you have a bank account with a credit union, ask whether they offer personal loans to members—credit unions often have lower rates and faster approval than online lenders.

What happens to the money once it lands in your bank account

Once the transfer completes, the money in your bank account is yours to use however you need. The credit card company does not track how you spend it. However, the cash advance balance on your credit card is a debt that accrues interest every day until you pay it off. Interest is calculated daily and added to your balance monthly, so the longer you carry the cash advance, the more you owe.

Make a plan to pay off the cash advance as quickly as possible. If you make only minimum payments, most of that payment goes toward interest, not the principal. Use an online calculator to see how long it will take to pay off the balance at your current interest rate and minimum payment—the number is often longer than you expect.

Frequently Asked Questions

How long does it take for money to show up in my bank account?

Most transfers take one to three business days. Direct transfers through your credit card issuer's app are usually on the faster end. ATM deposits to your own bank may show up the same day or next business day. Weekends and holidays can delay transfers by an extra day or two.

Can I transfer money from a credit card to a savings account instead of a checking account?

Yes, most credit card issuers let you transfer to any bank account in your name, whether it is checking or savings. You will still pay the cash advance fee and interest rate. Some issuers may have restrictions on which account types may have access to, so check your account details or call customer service to confirm.

What if my credit card issuer does not offer direct transfers?

Use an ATM to withdraw cash, then deposit it into your bank account. This costs more in fees, but it works with any credit card. Alternatively, explore a personal loan or balance transfer card if you need to move money regularly or in large amounts.

Does transferring money from a credit card hurt my credit score?

The transfer itself does not hurt your score, but it increases your credit utilization (the amount of your credit limit you are using), which can lower your score temporarily. Paying off the cash advance quickly brings your utilization back down and helps your score recover.

Can I reverse a cash advance transfer if I change my mind?

Once the money lands in your bank account, the transfer is complete and cannot be reversed. However, if you have not spent the money yet, you can transfer it back to your credit card as a payment to eliminate the cash advance debt and the interest charges. Do this as soon as possible to minimize interest accrual.