Credit Card is one of the friendly payment instrument which comes handy during various situations of life. Instead, Credit Card can be considered as an alternative to Cash, you can easily carry your card along with you and can pay your spends with it. This removes the burden of carrying cash along with you.
The biggest plus point of Credit Card is if you have bought a product which costs hunk and incase if you don’t have enough cash or falling short to repay back then you can convert that transaction into EMI (Equated Monthly Instalments) which will lower down burden on you.
In many cases or places you may also find that you are unable to use your Credit Card as they don’t accept credit card as a payment mode. So during such uncertain conditions you have no way left instead of paying via Cash or any other prepaid modes like Debit Card/ Wallets/ Internet Banking/ Bank Transfer/ etc.
We have listed some of the possible cases where you may be unable to pay via Credit Cards and they are as follows:
- For Paying Credit Card Dues
- For Paying Car/ Home or any type of Loan
- For Offline Cash Payment’s e
There may be numerous reasons, but we have mentioned only few which we have come across.
So during such situations paying in cash, or debit card or from bank account becomes essential. And if you are falling short of money and have huge credit limit on your credit card then this problem can be easily sorted out by transferring money from credit card to bank account.
Yes you heard it correct, you can actually transfer your money from your Credit Card to Bank Account without applying any hefty cash withdrawal charges. In case if you want to pay for these above spends by withdrawing money from Credit Card via ATM then you will be charged a huge by your card issuing bank which is actually not worth.
So below we have shared a quick process which will allow you to transfer money from Credit Card to Bank Account with very less charge.
Process on How to Transfer Money from Credit Card to Bank Account via MobiKwik
MobiKwik Wallet Service provides you a feature which allows to transfer wallet cash to bank account. So which means you can first add money from you Credit Card to your MobiKwik Account and then later on withdraw it to your bank account by paying a small Processing Fee.
Below are the steps briefly explained which will allow you to transfer money from Credit Card to Bank Account via MobiKwik App or MobiKwik Website.
Before proceeding with the transfer you should make sure you have MobiKwik KYC Completed Account, KYC can be instantly completed within few fraction of time in its app itself.
- Open the MobiKwik App or access the website
- Make sure you are logged in, into your account.
- Navigate to Wallet and add the funds via your Credit Card
- Once funds are loaded into your MobiKwik Wallet just navigate to Transfer Money option
- Add beneficiary name, account name, IFSC Code, enter the amount which you want to transfer to bank account from the wallet
- Processing fees will be displayed according to amount you are withdrawing to bank
- Once done just click on go button
- Your money will be instantly credited into your bank account
That’s how you can get your money transferred from your credit card to your bank account to pay wherever you need where credit card is not accepted.