![]() With a PayPal account, you can transfer money to another individual with some basic details like your recipient’s email or phone number.Īlthough there are no fees for sending funds within the U.S. PayPalĪs one of the most recognizable names in the online payments industry, PayPal is a popular solution for sending and receiving money digitally. ![]() So, which transfer providers accept credit cards? Here are three platforms you can use to send money by credit card when you and the recipient both live in the United States. While many online money transfer services exist, not all of them make it easy to send money using your Visa, Mastercard, or another credit card.įor instance, the platform Zelle only accepts payments made through linked debit cards and checking and savings accounts-not by credit card. Using a credit card to transfer money domestically That’s because your debit card draws directly from your checking account, which means you can’t spend more than you have (without incurring an overdraft fee, that is).Īs convenient as it is, transferring money to a bank account using a credit card should be treated as a last resort or in case of an emergency. Since this adds to the cost of sending money by credit card, it may be better to wait until you have cash and can send money using your debit card instead. You’ll find that cash advances have a higher interest rate than other transactions, too. Always check with your financial service provider about their transfer fees so you’re not surprised. In other words, by taking out a cash advance, you’re essentially borrowing money from your card’s credit line-which comes with its own set of transaction fees.ĭepending on your credit card issuer, this could be a percentage of the total amount you transfer or a flat fee-usually whichever one is greater. 7 Further reading Sending money from a credit card to a bank accountīefore you begin sending money by credit card, it’s important to understand that these bank transfers are often treated as cash advances by financial institutions.įor those new to this term, you can think of a credit card cash advance as a short-term loan from your credit card company.
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