How To Transfer Money From PayPal To Credit Card Instantly

how to transfer money from paypal to credit card instantly

PayPal is an online payment platform that allows you to send and receive money for friends, family, or businesses, and request money from others electronically.

Many online stores like SHEIN, Temu, accept PayPal as a payment method, allowing you to checkout quickly and securely on the merchant's website.

On the other hand, a credit card is a financial tool that allows you to borrow money up to a certain limit, set by the issuing bank or financial institution, to make purchases or withdraw cash. It's essentially a small, plastic or metal card with your name, account information, and an expiry date.

Unlike debit cards that directly access your own funds, credit cards let you spend money you don't currently have, within the approved limit.

You are obligated to repay the borrowed amount, plus any applicable interest and fees, by the due date stated on your monthly statement.

A  direct transfer from PayPal to your credit credit card is not available, base on latest updates. However, an indirect transfer using a linked bank account as a bridge can facilitate this process.

In this article, we will show you how to transfer money from PayPal to Credit card instantly:

How To Transfer Money From PayPal To Credit Card Instantly

While you can't directly transfer money from PayPal to a credit card, there are ways to quickly access your money through a linked bank account. The fastest method is PayPal's "Instant Transfer" feature.

PayPal offer two transfer features: Instant and Standard transfer. To transfer money from PayPal to credit card instantly, the following steps are required:

  1. Transfer the money from your PayPal balance to your linked bank account.
  2. Automatically use the money from your bank account through your Credit card.

Part 1: Transferring from PayPal to Your Bank Account

You have two main options:

a. Standard Transfer (Free)

  1. Log into PayPal: Go to the PayPal website or open the app and log in to your account.
  2. Access your Wallet: Click or tap on the "Wallet" tab or section.
  3. Initiate the Transfer: Find the "Transfer Money" button and click on it.
  4. Select Transfer to Bank: Choose the option labeled "Transfer to your bank" or something similar.
  5. Choose Your Bank Account: Select the bank account you want to transfer the money to from the list of linked accounts. If you haven't linked a bank account yet, you'll need to do that first.
  6. Enter the Amount: Type in the amount of money you wish to transfer from your PayPal balance.
  7. Choose Standard Transfer: Ensure the standard transfer option is selected. It should indicate "in 1-3 days" and usually has no fee.
  8. Review and Confirm: Double-check the amount and bank account information, and then click the "Transfer Now" or "Confirm" button.

b. Instant Transfer (With Fee)

  1. Log into PayPal: Access your PayPal account either through the website or the mobile app.
  2. Open Your Wallet: Navigate to the "Wallet" section of your account.
  3. Select "Transfer Money": Find and click on the "Transfer Money" button.
  4. Choose "Transfer to your bank": Look for this option or one similarly worded.
  5. Select Your Debit Card: Choose the eligible Visa debit card that is linked to the bank account you want to transfer the money into.
  6. Enter the Amount: Specify how much money you will like to transfer from your PayPal balance.
  7. Choose the Instant Option: Select the transfer speed that says "in minutes" or similar. It will clearly indicate the associated fee.
  8. Review and Confirm: Double-check the amount, your card details, and the fee. Once you're satisfied, click on "Transfer Now" or a similar confirmation button.

It is important to take note of:

Fees: Check the current fees associated with Instant Transfers on PayPal's website or within your account.

Transfer Limits: PayPal might have limits on how much you can transfer per transaction or within a given period.

Processing Time: Standard transfers take 1-3 business days, while Instant Transfers are usually completed within minutes (up to 30 minutes in some cases).

Part 2: Using Your Credit Card After the Bank Transfer

Once the money is in your bank account, you have a couple of options:

Purchases: Use your credit card directly for purchases, both online and in-store, as you normally would.

ATM Withdrawal: If you need cash, withdraw money from an ATM using your bank's debit card and then use that cash to pay off your credit card balance.

You can set up automatic payments from your bank account to ensure timely credit card bill payments. Remember that a credit card is meant for spending or borrowing money. So  setting up direct deposit from your bank account will avoid you from incurring charges.

Here's how to set up automatic payments from your bank account to ensure timely credit card bill payments:

1. Choose Your Preferred Method:

There are two main ways to set up automatic payments:

  • Through your bank: Log in to your online banking portal or visit your local branch. Look for a section related to "bill pay" or "automatic payments."
  • Through your credit card issuer: Access your online credit card account or mobile app. Look for a section labeled "manage payments" or "automatic payments."

2. Gather Information:

Here is what you will need to have handy regardless of the method you choose:

  • Bank account details: Your bank account number and routing number.
  • Credit card details: Your credit card account number, billing address, and the name of the credit card issuer.
  • Payment amount and frequency: Decide whether you want to pay the minimum amount due, the full statement balance, or a custom amount. Choose the frequency of the payments (e.g., monthly, bi-weekly).

3. Follow the Instructions:

Bank's Online Platform: Locate the "bill pay" or "automatic payments" section. Follow the prompts to add a new payee, which will be your credit card issuer. Enter the required details mentioned above, including the payment amount and frequency. Review everything carefully before submitting.

Credit Card Issuer's Platform: Access your online credit card account and navigate to the "manage payments" or "automatic payments" section. Find options for setting up automatic payments from a bank account. Enter your bank account details and payment preferences. Review the information and confirm.

4. Confirmation and Monitoring:

Once you submit your request, you will receive confirmation from either your bank or credit card issuer, depending on the chosen method.

Double-check your bank statements and credit card statements regularly to ensure the automatic payments are happening smoothly.

Additional Tips:

  • Timing: Schedule automatic payments at least a few days before the due date to avoid any late fees due to processing delays.
  • Changes: If you need to change the payment amount or frequency, update it through the same platform you used for initial setup.
  • Funds Availability: Ensure sufficient funds are available in your bank account on the scheduled payment date to avoid failed transactions and potential late fees.

How To Get Cash From Credit Card At ATM

While you can use your credit card at an ATM to get cash, it's generally not recommended due to the high fees and drawbacks involved. Here is how it works:

Steps to Get Cash from Credit Card at ATM:

  1. Locate an ATM: Find an ATM that accepts your credit card network (e.g., Visa, Mastercard).
  2. Insert Your Card: Insert your credit card into the ATM slot.
  3. Enter Your PIN: Enter your credit card PIN correctly.
  4. Select "Cash Advance": Look for the option labeled "Cash Advance" or similar wording on the ATM screen.
  5. Enter the Amount: Enter the desired amount of cash you want to withdraw. Be aware of minimum and maximum withdrawal limits displayed on the screen.
  6. Review and Confirm: The ATM will show you the associated cash advance fee and the total amount that will be debited from your credit card. Review the information carefully.
  7. Complete the Transaction: If you agree to the fees, complete the transaction by following the on-screen prompts. You will receive your cash and your card will be ejected.

Advantages of Credit Card

Credit cards offer several advantages, but it's important to use them responsibly to avoid the potential downsides. Here are some key benefits:

Convenience and Flexibility:

  • Make purchases: Pay for goods and services online and in stores without carrying cash.
  • Emergency access to funds: Use your credit card for unexpected expenses or emergencies.
  • Building credit history: Responsible use (paying bills on time and in full) can improve your credit score, leading to better loan rates and terms in the future.

Financial Benefits:

  • Earn rewards: Many cards offer rewards programs, like cash back, travel points, or discounts on purchases.
  • Purchase protection: Some cards offer extended warranties on purchases or protection against damage or theft.
  • Improved budgeting: Track your spending easily with detailed monthly statements.

Additional Advantages:

Increased security: Carrying a credit card is generally safer than carrying large amounts of cash, and many cards offer fraud protection.

Travel benefits: Some cards ( eg: Platinum Card® from American Express, Capital One Venture X Rewards Credit Card, Chase Sapphire Preferred® Card)  offer travel insurance, airport lounge access, and other travel-related perks.

Final Thoughts On How To Transfer Money From PayPal To Credit Card Instantly

While you cannot directly transfer money from PayPal to a credit card instantly, an indirect method will be possible.

Firstly, you need to have a bank account that is linked to both your PayPal account and your credit card. Secondly, used instant transfer feature on PayPal to transfer the money from your PayPal balance to you linked bank account.

The money will be available in your bank account within 30minutes and you can then use your credit card to set automatic bill payment to your  bank  after a cash advance.

People also ask for:

How To Transfer Money From PayPal To Debit Card Instantly

You can directly transfer money PayPal to your linked debit card instantly.  Here is how to transfer money from PayPal to your linked debit card instantly:

Important Requirements:

  • Eligible Debit Card: Your debit card must be a Visa or Mastercard that allows Instant Transfers. Not all debit cards are supported.
  • Fees: There's a fee associated with Instant Transfers. You can check the current amount in your PayPal account under "Fees".
  • PayPal Balance: You must have a sufficient balance in your PayPal account to cover the transfer amount and the fee.

Steps for Instant Transfer:

  1. Log in to PayPal: Access your PayPal account on the website or through the mobile app.
  2. Open Wallet: Navigate to the "Wallet" section.
  3. Select "Transfer Money": Click on "Transfer Money".
  4. Choose "Transfer to your bank": Look for the option to transfer to your bank account.
  5. Link Your Debit Card (If Needed): If you haven't already, link your eligible Visa or Mastercard debit card to your PayPal account.
  6. Select Instant Transfer: Choose the option for an instant transfer (usually marked as "in minutes"). Take note of the associated fee.
  7. Enter Amount: Input the amount you want to transfer from your PayPal balance.
  8. Review and Confirm: Double-check the details, including the fee. Click "Transfer Now" or similar to confirm.

While Instant Transfers are typically processed within minutes, the process can sometimes take up to 30 minutes. There might be limits on the amount you can instantly transfer within a specific time frame. Check with PayPal for more details.