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 transaction is treated as a cash advance, not a regular purchase. This means you pay a fee upfront—usually 3 to 5 percent of the amount transferred—plus interest that starts accruing immediately, often at a higher rate than your regular purchase APR. If you need cash or want to move money between accounts, this is one of the slowest and most expensive ways to do it.
The three main methods are balance transfer checks (if your card issuer offers them), a cash advance at an ATM or bank teller, or a third-party money transfer service that accepts credit cards. Each has different fees, timelines, and limits on how much you can move.
Key Takeaways
- A credit card cash advance charges a fee (3 to 5 percent typically) and interest from day one, making it expensive compared to other transfer methods.
- Balance transfer checks arrive in 7 to 10 business days and let you write a check to yourself or deposit it directly, but still carry cash advance fees and rates.
- ATM cash advances are instant but limited to $300 to $500 per day and charge both a per-transaction fee and a higher interest rate.
- Third-party services like PayPal, Square Cash, or Wise accept credit cards but may charge 2 to 3 percent plus processing time, and some banks flag the deposit as suspicious activity.
Balance transfer checks: the slowest option with the highest fee
If your credit card issuer offers balance transfer checks, you can write a check to yourself, deposit it in your bank account, and the funds arrive in 7 to 10 business days. The check amount counts as a cash advance on your credit card statement. You will pay a cash advance fee (usually 3 to 5 percent of the check amount) and interest starting immediately—often 21 to 29 percent APR, depending on your card and creditworthiness.
Some issuers cap the cash advance fee at a flat dollar amount (for example, $10 maximum), which can make smaller transfers slightly cheaper. Check your credit card agreement or call the issuer to see if they offer these checks and what the exact fee structure is. Not all cards provide them.
ATM withdrawals: instant but with daily limits
You can withdraw cash from an ATM using your credit card, then deposit the cash into your bank account the same day. The transaction is instant at the ATM, but you will pay a cash advance fee ($3 to $5 per transaction, typically) plus interest on the withdrawn amount starting immediately. Most credit cards limit cash advances to $300 to $500 per day and $1,000 to $2,000 per month, depending on your credit limit and the card's terms.
This method works if you need a small amount quickly and do not mind paying the fee. For larger amounts or regular transfers, the daily cap and repeated fees make it impractical. Also, if you withdraw cash and then deposit it, your bank may flag the deposit as suspicious activity if the amount is large or the pattern is unusual—they may ask you to explain the source of the funds.
Third-party money transfer services: faster but not always cheaper
Services like PayPal, Square Cash, Wise, and some peer-to-peer apps accept credit cards as a funding source and can send money to your bank account. The timeline varies: PayPal and Square Cash typically deposit funds within 1 to 3 business days, while Wise (designed for international transfers) can take 1 to 2 business days depending on your bank. The fee is usually 2 to 3 percent of the transfer amount, which is lower than a credit card cash advance fee, but the service may still report the transaction to your credit card issuer as a cash advance or balance transfer.
The catch: some of these services explicitly prohibit using credit cards to fund transfers to your own bank account, treating it as a form of cash advance or money laundering prevention. PayPal, for example, allows credit card funding for payments to others but not for transfers to your own account. Wise charges a fee but accepts credit cards for transfers to your bank account in most cases. Check the service's terms before you start, because a rejected transfer can still result in a pending charge on your card.
Your bank may also flag the incoming deposit as unusual, especially if the amount is large or the transfer comes from a third-party service rather than a person or business you normally receive money from. This does not stop the deposit, but it may trigger a hold or a call from your bank's fraud team asking you to confirm the source.
Why this is expensive compared to other options
A credit card cash advance is one of the most costly ways to move money between your own accounts. If you transfer $1,000 using a balance transfer check with a 5 percent fee and 25 percent APR, you pay $50 upfront plus $20.83 in interest for the first month alone. Over six months, the interest alone could exceed $125.
Compare this to a bank transfer (free, 1 to 3 business days), a wire transfer ($15 to $30, same-day or next-day), or a peer-to-peer app like Venmo or Square Cash (free if you use a bank account as the source, 1 to 3 business days). If you have access to any of these, use them instead. A credit card cash advance should be a last resort for small amounts when you need cash immediately and have no other option.
What happens if you cannot pay back the cash advance
A cash advance is a debt on your credit card, just like a purchase. If you do not pay it back, interest accrues at the higher cash advance rate, and the debt appears on your credit report. Missing payments damages your credit score and can trigger late fees, collection calls, and legal action if the balance grows large enough.
Unlike a purchase, you cannot dispute a cash advance as unauthorized or fraudulent if you initiated it yourself. The only way to reverse it is to contact your card issuer immediately and explain the situation—some issuers will reverse a cash advance fee if you call within 24 hours and have a good account history, but this is not may provide and not a standard policy.
Frequently Asked Questions
Does a credit card cash advance hurt my credit score?
Yes, in two ways. First, the cash advance increases your credit utilization (the percentage of your credit limit you are using), which lowers your score immediately. Second, if you carry the balance and make late payments, that damages your score further. The score impact is temporary if you pay off the advance quickly, but it is still an immediate hit.
Can I use a credit card to fund a PayPal or Venmo transfer to my bank account?
PayPal does not allow credit card funding for transfers to your own bank account—only for payments to other people or businesses. Venmo has similar restrictions. Wise and some other services do accept credit cards for bank transfers, but they may charge a higher fee or report it as a cash advance. Check the service's terms before you try.
How long does a balance transfer check take to clear?
Balance transfer checks typically arrive in 7 to 10 business days after you request them, and the check itself clears in 1 to 3 business days after you deposit it. The total timeline is usually 8 to 13 business days. The cash advance fee and interest start accruing as soon as you deposit the check, not when you request it.
What if my bank rejects the deposit from a third-party transfer service?
Your bank will not reject the deposit, but they may place a hold on it while they verify the source. This can last 3 to 7 business days. The hold does not reverse the transaction—it just delays your access to the funds. If your bank suspects fraud, they will contact you to confirm the transfer is legitimate before releasing the hold.
Is there a limit to how much I can transfer from my credit card?
Yes. Most credit cards limit cash advances to 20 to 50 percent of your credit limit, with a daily ATM limit of $300 to $500 and a monthly limit of $1,000 to $2,000. Balance transfer checks may have a higher limit, but it still cannot exceed your available credit. Check your card's terms or call the issuer to find out your specific limits.