Find out how to transfer money from debit card to bank account
Today you can transfer money from one bank account to another in many different ways. You can initiate fund transfers via your internet banking account through which you can access methods like NEFT, IMPS, and RTGS, among others. Moreover, you can also install UPI Money Transfer apps for instant transfers. While these methods are common, most people do not know that they can transfer money from debit card to bank account. Let us understand the requirements and process for debit card money transfers in this article.
For online money transfer from debit card to bank account, you will need the following.
To transfer money from debit card to bank account, you will need to install and activate the mobile banking application of your bank. You can also directly visit the bank’s website to conduct the fund transfer. Once done, you can follow this step-wise guide on how to transfer money from debit card to bank account.
The beneficiary will receive an SMS alert confirming the debit card money transfer, while you will receive a notification from the bank stating the completion of the fund transfer and your outstanding balance after the fund transfer process is completed.
Now that you know how to transfer money using debit card, you can use this fund transfer method anytime. Note that you can also transfer money from your bank account to your UPI wallets and then initiate instant money transfers. Linking the bank account to UPI wallets can prove extremely helpful for instant money transfers.
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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.