How to Send Money With a Credit Card (Yes, It's Possible) (2024)

Can I send money online with a credit card?

Yes, you can send money online using your credit card, however there may be some limitations. If you’re using a money transfer provider, remember not all providers accept credit card payments.

Some may only allow you to pay with your credit card if sending money to or from a certain country, or in a certain currency. Comparing money transfer providers with MoneyTransfers.com means you’ll be able to see all the payment methods accepted by every single provider - so you can find the best available deal for the way you want to pay.

How to send money with a credit card

If you’re sending money overseas and you want to use your credit card, the best way is to use a money transfer provider. You’ll usually just need to follow these basic steps:

Use our comparison tool

Tell us how much money you need to send and where it's being sent to

Find the best rates

Find the provider with the best deal on credit card transfers and click through to their website - it usually takes just minutes to sign up

Add details about your transfer

Enter information about your transfer, including the amount, the recipient’s details and the transfer type - ensure everything is 100% accurate

Enter your payment details

Choose credit card as your payment method and enter your card information

Finalize your transfer

Review the details of your transfer and send the money

These companies offer the fastest and cheapest money transfers on the market, routinely offering much better deals than banks and digital wallet apps.

Ways to send money with a credit card

If you want to pay for your money transfer through your credit card, your best way to do it is to use a money transfer provider. They offer the best rates and the fastest payments, although you are likely to pay more than if you would pay by bank transfer.

The best credit cards for sending money abroad

The following credit cards offer the best rates and lowest fees for cash advances, so are best suited for using with a money transfer provider.

Credit card	Cash advance fee	Cash advance APR*
PenFed Gold	$0	17.99%
PenFed Platinum Rewards	$0	17.99%
DCU Platinum Rewards	$0	15.75 - 18%
DCU Platinum Secured	$0	16%
Simmons Bank	3% (Min $4)	18.75% - 26.75%

*APR is the overall cost of borrowing money for the cash advance, incorporating the interest rate as well as any fees you might face into one percentage figure.

Pros and cons of paying for your money transfer with a credit card

Fast: Credit card payments are often processed much faster than bank transfers
Convenient: They let you borrow money and pay it back, making them useful for emergencies
Benefits: Some credit cards offer benefits like cashback and reward points when you use them
Secure: Credit cards are one of the most secure payment methods available

Cash advance fees: You pay more than normal with a credit card, as these transactions are charged a cash advance fee
Provider fees: Some providers charge their own fee if you pay by credit card - with providers like Wise and Instarem this can be around $30-$70
Interest charges: Cash advances are usually charged at a higher rate of interest than normal transactions, and any interest-free perks you might have probably won’t apply
Credit score: If you spend money on your credit card and don’t pay it back on time, this is likely to negatively impact your credit score

How much it costs to send money with a credit card

Wise

Destination	Credit card fee for transfer of $100	Credit card fee for transfer of $1,000	Credit card fee for transfer of $2,000
France	$4.12	$41.23	$82.45
United Arab Emirates	$4.12	$41.23	$82.45
India	$4.12	$41.23	$82.45

Instarem

Destination	Credit card fee for transfer of $1,000	Credit card fee for transfer of $10,000	Credit card fee for transfer of $100,000
Germany	$30	$300	$3,000
Brazil	$60	$600	$6,000
Hong Kong	$45	$320	$3,020

Fees are involved in sending money with a credit card

While credit cards can be a convenient and fast way to pay for your money transfer, you should be aware of possible fees you might face. Generally speaking, credit cards are also the most expensive method of payment for money transfers, as they come with a host of extra charges you don’t usually see with alternatives like debit cards and bank transfers.

Cash advance fees

The main thing to be aware of with credit card money transfers is that credit card providers usually class these transactions as cash advances. These often incur extra fees, usually in the region of 3-5% of the total transaction amount - and interest rates on cash advances are usually higher than the rate for standard card payments

Interest charges

Speaking of interest, this is essentially the cost of borrowing money on your credit card in the first place. Some credit cards offer interest-free periods, but these may not apply to money transfers as they are seen as cash advances. It’s worth noting that if you don’t pay back the money you owe on your credit card, you’ll likely lose this interest free period anyways

Currency conversion fee

You may also have to pay a currency conversion fee to the provider or the credit card payment processor, often between 1-3% of the total transaction

Provider's fee

Money transfer providers differ in the fees they charge for money transfers. Some may even charge extra for processing a credit card payment compared to alternative methods, so be sure you keep an eye out for any added costs

Provider's markup

Providers also often add a markup on the exchange rate, usually a very small percentage - and this shouldn’t be affected by your payment method

What is a cash advance?

A cash advance is almost like taking out a small loan on your credit card - it usually applies to things like cash withdrawals from ATMs, or convenience checks you might get from your provider.

Alternatives to paying for a money transfer with a credit card

While paying for your money transfer with a credit card does have its benefits, you might be better off considering an alternative method. Most providers offer bank transfer and debit card payments as alternatives, although some may even offer cash payments, prepaid cards, and mobile wallets.

Bank transfers

Paying for your money transfer directly from your bank account is usually the cheapest option, but can sometimes take a little longer to process

Debit card

Paying by debit card is likely to be quick, sometimes as quick as with a credit card, but likely with lower fees - and no risk of paying interest

Prepaid cards

Prepaid cards can be just as fast as credit and debit cards, but not all places accept them

Cash

If your chosen money transfer provider has an agent nearby you can visit, they may let you pay for your transfer in cash after confirming the details online

Mobile wallets

Some providers accept payments via mobile wallets like PayPal, Google Pay and Apple Pay

Can I receive money from overseas to a credit card?

Some providers, like TransferGoand Western Union, allow money transfers directly to the recipient’s credit or debit card. While this might sound strange, as most people use cards to make payments rather than receive them, they offer the benefit of not having to share bank account details.

You’ll simply just need the recipient’s full name and credit card number, and they should receive the money directly to their credit card balance. They may receive an email that reads similar to ‘You have spent -$100 on your credit card’ to indicate that money has been added to their balance.

Should I use my credit card to send money overseas?

Using your credit card to send money abroad isn’t always the recommended option, as it’s often much more expensive than alternative methods. However, it can be a useful payment method in the following circ*mstances:

If you need to send money quickly

Some providers might process credit card payments faster than debit card payments or bank transfers, which can be useful if speed is paramount

If you need to borrow money to send

Credit cards let you borrow money to pay back later, so if you need to send funds abroad and you’re a bit short, a credit card can be a good way to tide you over. Just be sure you pay back the money you owe on time, otherwise you might face high interest charges

If you benefit from credit card bonuses

With some credit cards you might have certain incentives to keep you using them, such as cashback or reward points to spend in different shops. If these benefits outweigh the extra charges you might face, then it could be worth pulling out the credit card for your next money transfer

Sending money from a credit card to a bank account

You can send money from your credit card to a bank account, but this will usually be seen as a cash advance just like any kind of money transfer. This means you’ll face a range of fees for taking money out of your credit balance for your money transfer.

Another option is to use a service like PayPal or Venmo, which allows you to easily transfer funds from your linked credit card to another person's bank account. Just be sure to check for any associated fees before proceeding with the transfer.

Using a credit card to make a wire transfer

Like above, you can use your credit card to fund a wire transfer, but it’s likely to be an expensive option. We would recommend only doing this as a last resort, as you’ll face credit card fees as well as potential wire transfer fees.

Using a credit card to send money domestically

If you need to send money domestically within the US, you can use a credit card to pay for the transfer. While banks in the US do allow domestic transfers, they often charge huge fees - so most people use alternatives like digital wallet apps.

PayPal, Venmo and Cash App allow you to make domestic money transfers with your credit card. We’ve broken down their fees below:

Provider	Credit card fees
PayPal	2.9% plus a fixed fee of $0.30
Cash App	3%
Venmo	3%