[How] Transfer Money From Kotak Mahindra Bank Credit Card To Bank Account

(Last Updated On: October 31, 2022)

Transfer Money From Kotak Credit Card To Bank Account: You can transfer some funds from your credit card to your bank account and proceed with your transactions. But how does money transfer from credit card to bank account work?

There are many methods to Transfer Money From Kotak Credit Card To Bank Account. You can do a direct transfer with the bank through net banking, money transfer credit card or phone call or indirectly using an e-wallet that is linked to your bank account.

Transfer Money From Kotak Credit Card To Bank Account By Cheque To Yourself

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Here Are The Steps For Transfer Money From Kotak Mahindra Bank Credit Card To Bank Account by Self Cheque. If you do not want to call the bank, you can also opt to send a check to yourself. Keep in mind that this requires you to go to a particular facility that does this. There can also be possible charges depending on the bank, the amount, and the like.

On the receiver’s name section, write the name as ‘self’
Now include the rest of the information that you would ideally write on a cheque.
Finally, deposit the cheque at your nearest bank branch.

Transfer Money From Kotak Credit Card To Bank Account- Net Banking

Transfer Money From Kotak Credit Card To Bank Account can be transferred by directly accessing your credit card’s online banking account. the charges for making a Transfer Money From Kotak Mahindra Bank Credit Card To Bank Account varies from bank to bank. follow the procedure provided below:

Log in to your Kotak Mahindra Bank bank’s Net Banking website
Visit your Kotak credit card section within the website
Now choose the transfer option that seems the most preferable for you
Next, you can proceed to enter the amount that you wish to transfer to your bank account.
Enter the rest of the details and information as asked in the form.
In addition, make sure to follow the rest of the prompts until the transaction is completed.

Transfer Money From Kotak Credit Card To Bank Account-Using Paytm

This feature is devised mainly to avoid keeping too much balance in your e-wallet. But this could be used to Transfer Money From Kotak Mahindra Bank Credit Card To Bank Account also. Related steps are below mentioned:

Register with Paytm
Transfer fund from credit card to wallet
Open the Paytm App and go to ‘Passbook’
Select the option: ‘Send money to Bank’
Select ‘Transfer’ option
Enter information regarding the amount, account number, and IFSC
Click on ‘Send’ button and money will be transferred to your account

Transfer Money From Kotak Credit Card To Bank Account-By Phone Call

if you need the Transfer Money From Kotak Credit Card To Bank Account immediately and do not have access to the internet, the transfer is always a phone call away. The charges for making a Transfer Money From Kotak Credit Card To Bank Account through a phone call will be the same as the amount charged via net banking. follow the steps provided below:

step 1: call your credit card company
step 2: request for a fund transfer
step 3: confirm the amount you want to transfer to the bank account
step 4: provide the bank account number and other details required
step 5: follow the prompts to complete the transaction

Transfer Money From Kotak Credit Card To Bank Account by Cheques

If you do not want to call the bank, you can also opt to send a check to yourself. Keep in mind that this requires you to go to a particular facility that does this. There can also be possible charges depending on the bank, the amount, and the like.
Step 1: Type ”self” as the payee’s name.
Step 2: As you would when writing a check, insert any other pertinent information.
Step 3: Go to your bank office and deposit the check.

Transfer Money From Kotak Credit Card To Bank Account By Money Transfer Services:

You can also Transfer Money From Kotak Credit Card To Bank Account by money transfer services. To do this follow these steps.

Login to your registered MoneyGram, Western Union, or any other money transfer service account.
Next, select the country of the person you’re sending the money to, which in this case, is you. Enter the other necessary details.
Enter the amount you need to transfer to your receiving account, and in the method of payment, select ‘credit card.’
Enter the required information and proceed to make the payment. However, it is important to remember that this method may take 1-5 working days to complete the Transfer Money From Kotak Credit Card To Bank Account.

Transfer Money From Kotak Credit Card To Bank Account By Western Union

Subscribe with Western Union. The registration is free of cost.
Login to your profile.
Select the country, the amount to be transferred, and the method of delivery (in this case to the bank account).
Enter the bank account details of the receiver.
Pay using your credit card
You will receive a confirmation through email along with the tracking number. This number is called the money transfer control number (MTCN).
The money will be transferred to the recipient’s account.

Transfer Money From Kotak Mahindra Bank Credit Card To Bank Account By Atm Cash Advance

This is a service that allows you to use your credit card to take cash from an ATM and transfer the money into your bank account. Charges also depend on your chosen bank and its rules.
Step 1: Get cash from an ATM with your credit card.
Step 2: Take the money to your bank’s location and deposit it.

What Are The Charges on Transfer Money From Kotak Credit Card To Bank Account?

The fees and charges for Transfer Money From Kotak Credit Card To Bank Account are generally high and are called cash advance fees. for example, Kotak Mahindra Bank charges 2.5% cash advance fees on the total amount withdrawn. the cash advance charges vary from bank to bank.
Some wallets charge a transaction fee that can go up to 3%
You can transfer the funds directly to your bank account using money transfer credit cards. Some cards charge a low or zero interest rate for a specific period.
Some credit cards offer you an interest-free ATM cash withdrawal facility

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To Conclude:

Even though there are certain restrictions involved in Transfer Money From Kotak Credit Card To Bank Account, it is still okay to do in case of emergencies. However, excess of such transfers may land you into trouble. Such transfers are relatively cheaper than borrowing a personal loan or withdrawing cash using a credit card as these involve high interest charges. Hence, depending upon the access to mobile applications, and the amount of funds to be transferred, you may choose to Transfer Money From Kotak Credit Card To Bank Account, as and when required.