You can transfer money from a credit card to a bank account, but it costs money and counts as a cash advance

Yes, you can move funds from your credit card to your checking or savings account. The card issuer calls this a cash advance. Unlike a purchase, a cash advance starts charging interest when ready — there is no grace period — and the interest rate is usually higher than your regular purchase rate. You will also pay an upfront fee, typically 3 to 5 percent of the amount you transfer.

Because of these costs, most people use a cash advance only when they have no other option. If you need money urgently and a credit card is your only available source, a cash advance is possible. But if you have alternatives — a personal loan, a line of credit, or borrowing from someone you know — those usually cost less.

Key Takeaways

  • Cash advances from credit cards charge interest from day one, with no grace period like purchases have.
  • You will pay an upfront fee (usually 3 to 5 percent) plus a higher interest rate than your purchase APR.
  • You can initiate a cash advance through your card issuer's app or website, at an ATM, or by visiting a bank branch.
  • The money lands in your bank account within one to three business days, depending on your bank and the card issuer.
  • Paying back a cash advance is slower than paying back purchases because payments go to purchases first.

Three ways to transfer money from your credit card to your bank account

Most card issuers offer at least two methods. The fastest and most common is through your card's mobile app or online portal. Log in, find the cash advance or balance transfer section, enter your bank account details and the amount you want, and confirm. The money usually arrives within one to three business days.

If you need cash when ready, you can withdraw from an ATM using your credit card and PIN. The ATM dispenses cash, which you can then deposit into your bank account in person or through mobile deposit. This method gets you physical cash right away, but you still pay the cash advance fee and interest.

A third option is to visit a branch of your card issuer's bank (if it is a bank-issued card) or a partner bank and ask for a cash advance. A teller can process it on the spot. This is slower than the app but faster than waiting for an electronic transfer if you need same-day funds.

What fees and interest rates you will pay

The cash advance fee is a one-time charge applied when you initiate the transfer. It is usually a percentage of the amount — commonly 3, 4, or 5 percent — with a minimum fee (often $5 to $10). Some cards charge a flat fee instead. Check your card's terms or call the issuer to find your exact fee before you transfer.

The cash advance APR is the interest rate applied to the balance. This rate is almost always higher than your purchase APR and does not have a grace period. Interest accrues daily from the moment you take the advance. If you transfer $1,000 at a 25 percent cash advance APR, you owe roughly $6.85 in interest after one month if you make no payments.

Some cards offer a 0 percent introductory rate on balance transfers (moving debt from another card), but this rarely applies to cash advances. Read your card agreement or contact the issuer to confirm whether any promotional rate covers cash advances.

How to initiate a cash advance through your card's app or website

Log into your card issuer's mobile app or go to their website and sign in with your username and password. Look for a menu option labeled "Cash Advance," "Get Cash," "Balance Transfer," or "Account Services." The exact wording varies by issuer.

Click that option and select "Transfer to Bank Account" or similar. You will be asked to enter or confirm your bank account number and routing number. If you have already linked a bank account to your card, you may see it pre-filled. If not, have your bank account information ready — you can find both numbers on a check or by logging into your bank's app.

Enter the amount you want to transfer. The app or website will show you the fee (as a dollar amount or percentage) and the cash advance APR. Review these numbers carefully. Confirm the transfer, and you will receive a confirmation number. The money typically arrives in your linked bank account within one to three business days.

Why your payment goes to purchases first, not the cash advance

Credit card issuers are required by law to explore your payment to the highest-interest balance first — which is usually the cash advance. However, this rule applies only to payments above the minimum. If you pay only the minimum, the issuer can explore it to the lowest-interest balance (your purchases) first, leaving the cash advance to accrue interest longer.

To pay down a cash advance faster, pay more than the minimum. Better yet, make a payment that covers the cash advance balance in full. If you cannot pay it all at once, make multiple payments throughout the month to reduce the interest you owe.

This is why a cash advance is expensive: the interest compounds while you are paying it back, and if you carry other balances, your payments may not hit the cash advance as quickly as you expect.

Alternatives to a credit card cash advance

A personal loan from a bank, credit union, or online lender usually has a lower interest rate than a cash advance and charges no upfront fee. You borrow a fixed amount, receive it in your bank account, and repay it in equal monthly installments. The downside is that approval takes a few days to a week, so this does not work if you need money today.

A line of credit from your bank or credit union works like a credit card but often has a lower interest rate. You draw what you need and pay interest only on what you use. Some lines of credit have no annual fee and no cash advance fee.

If you have a savings account with a linked overdraft protection, you can overdraw your checking account and the bank automatically transfers funds from savings to cover it. This usually costs less than a cash advance, though overdraft fees vary by bank.

Borrowing from a friend or family member, if that is an option, costs nothing and avoids interest entirely. A written agreement about repayment protects both of you.

What happens if you cannot pay back the cash advance

If you carry the cash advance balance unpaid, interest accrues daily and your balance grows. After 30 days of non-payment, the issuer reports the late payment to the credit bureaus, which damages your credit score. After 60 to 90 days, the issuer may freeze your account or close it.

If the debt remains unpaid for six months or longer, the issuer may sell the debt to a collection agency. The collection agency can then contact you by phone or mail to demand payment. If you ignore it, the agency may file a lawsuit and obtain a judgment against you, which can lead to wage garnishment or bank account levies in some states.

If you are struggling to repay, contact your card issuer as soon as possible. Some issuers offer hardship programs that lower your interest rate or allow you to pause payments temporarily. It is better to ask for help than to let the debt grow.

Frequently Asked Questions

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

Most transfers arrive within one to three business days. Some issuers offer faster options (same-day or next-day) for an additional fee. Withdrawing cash from an ATM is when ready, but you still need to deposit it into your bank account yourself. Check your card issuer's website or app for their specific timing.

Can I transfer money from a credit card to someone else's bank account?

No. A cash advance transfers only to a bank account registered in your name. If you need to send money to someone else, you would have to withdraw the cash and give it to them, or deposit it into your account and then transfer it to theirs using your bank's payment system.

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 credit limit you are using), which can lower your score slightly. Late payments on the cash advance will hurt your score significantly. Paying it back on time has no negative impact.

Is there a limit to how much I can transfer?

Yes. Your card issuer sets a cash advance limit, which is usually lower than your overall credit limit. You can find your cash advance limit in your card agreement or by calling the issuer. Some cards allow you to request a higher limit, but approval is not may provide.

What if my card issuer does not offer cash advances?

Some cards, particularly secured cards or cards for people rebuilding credit, do not allow cash advances. If yours does not, you cannot transfer money this way. Contact your issuer to confirm, or explore the alternatives listed above — a personal loan or line of credit may work better for your situation anyway.