Personal Finance Money transfer

How to transfer money from a credit card to a bank account online

Emma-Jane Stogdon

31.03.25

Read time 2 minutes

You can use your credit card for more than just shopping. Some UK cards let you make a money transfer, which involves sending a portion of your available credit limit directly to your bank account.

It’s relatively quick and easy to transfer money from a credit card to a bank account, and you can even do it online. But there are some key things to consider before you do it, including transfer fees.

We’ll run through everything you need to know here in this guide, including step-by-step instructions for setting up a money transfer from a credit card.

Can you transfer money from a credit card to a bank account?

Yes, although it depends on the credit card. Many UK cards have this feature, which lets you transfer some of your available credit limit to your bank account.

It’s a bit like making a purchase, except the money goes to your bank account instead of a retailer or merchant.

However, when it comes to fees, money transfers are treated differently than purchases by credit card providers. We’ll look at this next.

Are there fees for money transfers?

You’ll nearly always pay a one-off fee to make a money transfer from a credit card to a bank account.

This fee varies between providers and cards, but is generally around 3-4%. So if you’re transferring £1,000 from a credit card to your bank account, you’ll pay a transfer fee of £30-£40.¹

As for interest, money transfers are often included in 0% interest period offers - but always check before attempting a transfer.

You might also want to read our guide to the best UK money transfer credit cards.

Steps to transfer money from a credit card to a bank account

If you’ve checked that your credit card allows money transfers and you’re happy with the fee, here’s how to set one up:

Get your details together - you’ll need the account number and sort code of the bank account you want to transfer money too. This needs to be in your name, the same as on the credit card account.
Login to your online banking or credit card app
Choose the credit card you’d like to transfer from and follow the steps to request a money transfer.
Enter the amount you’d like to transfer
Enter the bank account details
Review the transfer fees
Check the details and confirm once you’re happy

If you get stuck with any of the above, you’ll need to contact your credit card provider for help. It may be the case that you can’t make money transfers with your particular card, or you don’t have enough of a credit limit available.

How long do money transfers take?

Typically, money transfers made from a credit card to a bank account should take around 1 working day.¹

This means that the money should arrive in your bank account the day after you submit the transfer request (unless it’s a weekend or bank holiday).

Pros and cons of credit card money transfers

Not sure whether a credit card money transfer is right for you? Here are some pros and cons to consider, to help you make up your mind.

Pros:

Useful if you need a cash injection, such as to pay a short-term debt or cover an unexpected expense
Some credit cards include money transfers in 0% interest period offers.

Cons:

High transfer fees apply
You need to make sure you can make minimum repayments on time, and that you can afford to pay off your balance overall. If you struggle to repay your debt, it could lead to penalties as well as affecting your credit rating.

And that’s it - your handy guide to transferring money from a credit card to a bank account online.

We’ve looked at fees, timescales and the steps to set up your transfer, along with some pros and cons of money transfers to bear in mind. After reading this, you should be all set to make your first transfer.

And if you’re looking to make a standard money transfer between bank accounts, check out Wise. It lets you send money worldwide for low fees* and at mid-market exchange rates.

Sources used:

1. Compare the Market - How to transfer money from your credit card to bank account

Sources last checked on date: 26-Feb-202

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

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