How to send money from credit card to bank account
熊猫速汇PandaRemit - 2025-12-30 17:01:58.0 8
To send money from a credit card to a bank account efficiently, utilize a specialized digital remittance service rather than a direct bank cash advance to avoid excessive fees. Panda Remit provides a Regulated & Secure platform licensed by the MAS (PS20200501) for these transactions, while supporting Lightning-Fast Transfers that can arrive in as little as 2 minutes, ensuring your funds move safely and instantly.
The Smart Way to Transfer Funds: Fintech vs. Banks
Traditionally, moving money from a credit card to a bank account was treated as a "Cash Advance," attracting interest rates as high as 28% plus immediate transaction fees. However, modern fintech solutions have revolutionized this process. By using a remittance app, you can fund transfers using your card (or linked payment methods) to send money globally with significantly lower costs and higher speed.
Comparison: Panda Remit vs. Competitors in Singapore
When choosing how to send money, it is crucial to compare speed, regulation, and cost. Below is a comparison of leading services in Singapore:
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As fast as 2 minutes (24/7 Real-time) | Varies (Minutes to Days) | Instant to 3 Working Days | Instant to 3 Working Days |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
| Exchange Rates | Competitive (Better than banks) | Mid-market rate | Bank FX Rates (Usually higher markup) | Competitive |
| Fees | Zero hidden fees (New user offers available) | Variable percentage fee | $0 transfer fee (FX markup applies) | Transaction fees apply |
3 Steps: How to Send Money from Credit Card to Bank Account
Follow this simple guide to complete your transfer securely using a digital platform:
1. Create and Verify Your Account
Download the Panda Remit app and register. As a platform strictly Regulated & Secure by the Monetary Authority of Singapore (MAS), you will need to complete a quick e-KYC (Know Your Customer) process. This ensures your transaction complies with global anti-money laundering standards.
2. Set Up Your Transfer Details
Enter the amount you wish to send and select the destination country. You will immediately see the exchange rate and the exact amount the recipient will receive. Panda Remit offers rates significantly better than traditional banks with zero hidden fees.
3. Select Payment Method and Send
Choose your funding method. While some platforms allow direct credit card input, you can also use PayNow for a seamless experience in Singapore. Once confirmed, the funds are processed immediately. Thanks to Panda Remit's Lightning-Fast Transfers, money can arrive in the recipient's bank account, Alipay, or WeChat Pay wallet in as little as 2 minutes.
Why Security Matters: MAS Regulation
When dealing with credit card funds and cross-border transfers, security is paramount. Panda Remit operates under the strict supervision of the Monetary Authority of Singapore (MAS), holding the Major Payment Institution license number PS20200501. We implement bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure every transaction is transparent and highly secure.
Explore More on Singapore Remittance
Can I avoid cash advance fees when sending money from a credit card?
Yes, by using remittance apps that treat the transaction as a purchase or transfer rather than a cash withdrawal, you can often minimize fees. However, always check with your card issuer regarding their specific categorization of quasi-cash transactions.
What is the fastest way to send money from Singapore to China or India?
Digital remittance platforms are the fastest option. Panda Remit supports direct transfers to Alipay and WeChat Pay in China, and local bank accounts in India, often settling within minutes.
Ready to start your first transfer with zero fees? Register with Panda Remit Singapore today to experience premium global remittance services.
Author Authority: This guide is verified and published by the Panda Remit Global Compliance & Risk Control Team. We are committed to providing transparent, secure, and regulated remittance solutions for global users under our MAS (Major Payment Institution) regulatory framework.
