How To Transfer Money From Virtual Card To Bank Account (2024)

How To Transfer Money From Virtual Card To Bank Account (1)

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Published May 22, 2024

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Transferring money from a virtual card to a bank account is a process that can seem complex at first, but with the right steps, it can be quite straightforward. Virtual cards are increasingly popular for online transactions due to their enhanced security features.

However, there are times when you might need to convert the funds on your virtual card into cash or transfer them to your bank account. Here’s a step-by-step guide on how to do it.

What is a Virtual Card?

A virtual card in simple terms can be referred to as that card which is stored on your phone and may be used to make contactless purchases in stores or online. This cards has its own card number, expiration date and CVC. A digital card is simply a software version of your real bank card stored on your phone.

A virtual card that can only be used once and is not reloadable is referred to as a disposable card, Once you have made a payment, the card's details cannot be reused again for any other transaction.

Virtual card works in the same way as traditional banks by simply staying in your phone's digital wallet rather than you wallet. Thanks to encryption, this card provides its users with a safe and convenient way to pay online and in store.

Can You Transfer Money From Virtual Card to Bank Account?

Whether you can transfer money from your virtual card to your bank account depends on the type of virtual card you have. Here's how to find out and make the transfer:

Types of virtual cards:

  • Virtual debit cards: These function similarly to regular debit cards and are often linked to a checking account. Transfers from a virtual debit card to your bank account are usually possible.
  • Virtual credit cards: These cards function like regular credit cards and are used for purchases, not transfers. You cannot transfer money from a virtual credit card to your bank account.

Transferring money from a virtual debit card:

  1. Access your virtual card account: Log in to the app or website linked to your virtual card.
  2. Find the transfer option: Look for features like "Transfer money" or "Send money."
  3. Select your bank account: Choose the bank account you want to transfer the money to. You might need to enter your bank account details manually if it's not already linked.
  4. Enter the amount and confirm: Indicate how much money you want to transfer and confirm the transaction with two-factor authentication (if required).

Alternatives:

  • E-wallets: If your virtual card provider allows linking to an e-wallet like PayPal, transfer the money to the e-wallet and then to your bank account.

Remember:

  • Check your virtual card provider's fees for transfers.
  • Not all virtual cards allow transfers to bank accounts.

Transferring money from a virtual card to a bank account involves a few steps but is generally straightforward once you understand the process. By leveraging payment platforms and financial apps, you can efficiently move funds to your bank account. Always be mindful of fees and ensure all your accounts are secure to safeguard your money during the transfer process.

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How To Transfer Money From Virtual Card To Bank Account (2024)

FAQs

How To Transfer Money From Virtual Card To Bank Account? ›

If direct deposit isn't an option, or if you'd prefer a different method, you can use a money transfer platform such as PayPal or Venmo. These platforms allow you to link your Visa gift card as a payment method, after which you can transfer the balance to your bank account.

Can you transfer virtual Visa gift card to bank? ›

If direct deposit isn't an option, or if you'd prefer a different method, you can use a money transfer platform such as PayPal or Venmo. These platforms allow you to link your Visa gift card as a payment method, after which you can transfer the balance to your bank account.

Can you withdraw money from a virtual debit card? ›

Card Tokenization Service (e.g., Samsung Pay, Google pay) for NFC transaction is available on Master Card and Visa Network. Currently, Android mobile phone having NFC capability support Card Tokenisation services. Virtual Debit Card cannot be used for Cash Withdrawal.

How do I transfer money from my digital wallet to my bank account? ›

Transfer money out of the Google Wallet website
  1. Go to wallet.google.com.
  2. Click Payment Methods.
  3. Click Money in Google Pay or Google Pay balance. Transfer out.
  4. Enter the amount that you want to transfer out.
  5. Select the bank account that you want to transfer to. ...
  6. Click Transfer out.

Can I transfer money from credit card to bank account online? ›

Yes, you can transfer money from a credit card to a bank account in multiple ways. You can do it online or via direct transfer methods such as phone calls, ATMs, or cheques.

How to transfer money from my virtual card to my bank account? ›

Open your virtual card account on its app or website. Look for a Transfer money or Send money option on the dashboard and tap it. Select one of the bank accounts you want to withdraw money to or enter the bank account number and other required details manually.

How to cash out a virtual Visa card? ›

Because there is no physical card, a virtual card cannot be used to withdraw money from an ATM. However, you may typically perform a transaction at your bank to transfer money into your account and withdraw it again.

Where can I withdraw money with a virtual debit card? ›

Yes, the virtual card allows you to withdraw cash from ATMs that support contactless use. You will need a digital wallet (e.g. Apple Pay, Google Pay) and second, a virtual card PIN code, which you will find on the LHV mobile app or internet bank.

How do I withdraw money from virtual wallet? ›

Generally, though, here's how to make a withdrawal from a cardless ATM:
  1. Open your mobile app or digital wallet. At the ATM, open your mobile app or digital wallet to start your transaction. ...
  2. Tap the ATM or scan the QR code. ...
  3. Enter your PIN. ...
  4. Finish the transaction.
May 30, 2024

How do I withdraw money from my virtual bank account? ›

How do you get cash from an online bank?
  1. Use your debit card at an in-network ATM. Online banks typically issue debit cards with checking accounts and money market accounts. ...
  2. Use cash-back options. ...
  3. Write a check. ...
  4. Transfer money to a linked account.
Jul 3, 2024

Can I transfer money from a virtual card to PayPal? ›

It is generally not possible to transfer money directly from a prepaid card to a PayPal Balance. However, individuals may be able to link their prepaid card to their PayPal account and use it to make payments, depending on the card issuer.

How do I transfer a digital gift card to my bank account? ›

Through the prepaid card issuer's website or mobile app:

Check if your card issuer offers bank transfers on their website or app. If available, locate the "transfer" or "move money" option. You'll need your bank account details (account number and routing number) and the amount you want to transfer.

Can I transfer money from e wallet to bank account? ›

At this time funds can be withdrawn from an eWallet account to your verified bank account. To add a bank account to your eWallet follow these steps: Log in to your eWallet. Click My Account > Bank Accounts.

Which wallet can transfer money to a bank? ›

Just make instant money transfer with the 'Wallet to Bank' feature on MobiKwik, from credit cards to any bank account through MobiKwik's digital wallet. Now, transfer money from credit cards of ICICI, HDFC, Citibank, SBI, and more to any bank account, and the amount will reflect in the bank accounts instantly.

How to transfer money with only card number and CVV? ›

As mentioned, if you are trying to transfer money with only a card number and CVV, you are out of luck. Credit card companies and payment processors will require the card holders name, address, and zip or postal code. In fact, this is the most basic information that is used to verify transactions.

Which app is best for transfer money from credit card to bank account? ›

You can transfer money from credit card to bank account via E-wallets such as Paytm, MobiKwik, Payzapp, etc. You only need to add money to your wallet from your credit/debit cards and transfer the amount to any bank account. Of all the digital payment platforms, MobiKwik has the best service.

How do I convert my Visa gift card to cash? ›

Some of them are as follows:
  1. Sell your Visa Gift Card to a Gift Card Exchange Website.
  2. Use a Gift Card Exchange Kiosk to Trade it in.
  3. Add Your Visa Gift Card to Your PayPal Wallet.
  4. Sell Your Visa Gift Card for Cash Through an App.
  5. Convert Your Visa Gift Card to Cash by Buying and Selling Items.
Jan 27, 2024

Can I cash out Visa gift card at bank? ›

Though the two cards are similar, only prepaid cards can be used to get cash from an ATM or to get “cash back” from a merchant. Gift cards cannot.

Can I use a virtual Visa gift card at an ATM? ›

The Visa Gift card is accepted everywhere Visa cards are accepted, including ATMs, around the world. Visa Gift card recipients can choose the gift they prefer at any store accepting Visa cards. This card marks the end of unwanted gifts and the inconvenience of having to exchange them for other items.

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