For most of people who need money in urgent situations, Credit card is the Savior, but this credit card doesn’t let you send money to bank account, even though you can withdraw money from credit card the interest charges are very high from about 39% to 42% + transaction charges.

Transfer Money From Credit Card to Bank Account

There are lots of Apps where you can able to send money from credit card to bank account but charges are very high.

For example, Paytm charges 3% + GST to send money from credit card to bank savings account(from Nov 2018 Paytm charges 4%)

Mobikwik charges 3% + GST, Freecharge and others are as well on higher side.

Now there is an App called PayZapp from HDFC Bank.

Where PayZapp charges 2% for transactions, which means if you want to send Rs 5000 from Credit card they charge Just Rs 100 + GST (18Rs).

Why PayZapp is the best?

Go to Play Store https://play.google.com/store/apps/details?id=com.enstage.wibmo.hdfc and Download

or App Store https://itunes.apple.com/in/app/payzapp-recharge-pay-bill/id1030991787?mt=8 and download PayZapp App

Sign up as a Customer, and set a PIN.

Bonus: Sign up using code earn75now code and get Rs. 75 cashback to PayZapp wallet.

Verify your KYC Details.

Now add money from credit card, it will be loaded to the wallet. Say Rs 5000

Now choose the Transfer to Bank option, Enter your Bank Details, enter amount.

So for Rs 5000 amount they charge Rs 118 as fee, which is quite less then its peers.

Read this:

When you load Rs 5000 from credit card you get points or rewards.

For Example, mine is Citi Bank Indian Oil Credit card, so if I load Rs 5000 I get 33 points.

Now 33 points is equal to Rs 33 of free petrol in Indian oil bunks.

So Rs 118 – Rs 33 = Rs 85 .

At the end when you are loading Rs 5000 and sending to bank total cost you are paying Rs 85 which means just 1.65% extra you are paying.

So find a similar credit card where your 1 reward point will be equal to 1 Re.

Now if you load money from HDFC credit card you will get 5x rewards, means 5 * 33 = 165 points, so if you have a Moneyback card in hdfc then 165/3 = 55

means money back gives 1 rupee for every 3 points/rewards.

So when you load with HDFC credit card you pay final amount of only Rs 63, for Rs 5000 wallet load.

If you find this article useful then please share it.

Above method also works for how to transfer money from credit card to bank account.

The post Best Method to Transfer Money From Credit Card to Bank Account for Low Price appeared first on TechAccent.

Send Money from Credit Card

First Method:

Transfer money to bank account from PayZapp

On your Android smartphone download an App called PayZapp from PlayStore, PayZapp is a wallet from HDFC Bank, PayZapp is a complete payment solution giving you the power to pay in just One Click.

Open the app and Sign up on PayZapp, then link your Credit Card and load money from Credit card to your PayZapp card wallet.

1. Now go to Pay or Send Money section on the app
2. Click on Bank icon then it asks for Account Holder name, Account Number, IFSC Code, Amount to send
3. Here enter the amount you want to send to your bank account for free

PayZapp uses IMPS technology so within seconds you will transfer money from credit card to your bank account for free.

Per day you can load only Rs 5000 to your wallet and send only Rs 5000 to your bank account, with a limit of only Rs 20000 per month.

Now you can send money from credit card to bank account in India with no minimum fees, No transaction charges unlike payTm and Mobikwik.

Currently as of today its still working. PayZapp is convenient, fast and secure. It uses a proprietary technology that conducts three security checks for each transaction.

Bonus: When you do your first merchant Payment using PayZapp, use earn75now code and get Rs. 75 cashback to PayZapp wallet.

Update: As of Nov 7th 2017, Payzapp is charging 2% transaction charges.

Second Method

Using Citrus Wallet

1. Install Citrus wallet then load money from Credit card.
2. Add a bank account, then send money freely to the bank savings account.
3. Unlike PayZapp and MyPooling App Citrus uses NEFT Payment Type, so you will receive money in 24 hours
4. And other exception is only Rs.3000 per month transfer is allowed at free of cost.
5. So create multiple Citrus accounts Say 5 then Rs 3000 * 5 = Rs 15000, you can send freely from credit card to your bank account.

Third Method

Using mypoolin Wallet App :

Install mypoolin App and follow below simple steps

1. Tap on ‘Send money’ or ‘Request money’ inside the app on your home page

2. Simply search / type your friend’s name or mobile number above along with the amount that you would like to send. Also attach any cool message with emoticons for the purpose.

3. Click on confirm to proceed and then choose payment as credit card

4. Make your payment just like always using your desired means and the money will reach your friend. It will be credited into their bank account instantly as soon as they tap on that notification message and confirm their bank details.

If you ask me I suggest to Use Payzapp or Citrus App for Free transfers!

Above all methods doesn’t charge any extra money when you transfer money from credit card to bank account, so make the best usage of it when you have shortage of money, and its for free.

The post How to Send Money from Credit Card for Free and Earn Free Points on Credit card appeared first on TechAccent.