Generally, you cannot directly transfer money from a credit card to someone else's bank account. However, you can use services like PayPal or Venmo, which may allow you to send money from your credit card to another person's account, albeit with fees. It's also important to check the terms and conditions of your credit card provider, as cash advances for such transactions may incur high interest rates and fees. Always consider the costs and implications before proceeding.
Most times, the deposit should be cleared into their bank account within 24 hours. The amount will vary depending upon the bank and when you make the deposit.
No, it is not possible to transfer money directly from your Venmo credit card to your bank account.
yes
Yes, you can transfer money to a credit card by making a payment from your bank account to the credit card account.
It means you bank account is in credit, you have money to spend.
Most times, the deposit should be cleared into their bank account within 24 hours. The amount will vary depending upon the bank and when you make the deposit.
No, it is not possible to transfer money directly from your Venmo credit card to your bank account.
yes
When you deposit money into a bank account, it is considered a credit transaction. This is because you are increasing the balance in your account, which is a credit to your account. From the bank's perspective, they are also increasing their liabilities by owing you that money, which is recorded as a credit on their books.
The Debit and Credit on a bank statement reflect the Bank's accounting records, not yours. So when you deposit money into your account, the bank owes you that money to you - it is a liability for them, therefore a credit entry. Similarly, if they charge you a bank fee, it reduces their liability to you, so they would Debit your account (on their books) and Credit an Income account.
Yes, you can transfer money to a credit card by making a payment from your bank account to the credit card account.
Yes, Amazon accepts money from the bank account via the credit cards.
It means you bank account is in credit, you have money to spend.
No, you cannot deposit money into a credit card account. Credit cards are used to borrow money from the card issuer, not to deposit funds like a bank account.
It's a credit. When you take money out - it's a debit.
direct credit is money transferred from 1 bank account to another.
The funds are a credit to the bank that is issuing the statement. They "owe" you the money, therefore the credit.