Credit cards

Can you transfer money from a credit card?

Money transfer credit cards can be a fast and flexible way to borrow money for unexpected costs or cash shortfalls. Here’s what you need to know about money transfer credit cards and where to get one in Ireland.

What is a money transfer credit card?

It’s a credit card that allows you to borrow money and transfer it directly into your bank account.

You may have to pay interest on the money borrowed and there could be a fee for the transaction but money transfer credit cards in Ireland don’t charge for the transfer.

The credit card issuer may set a minimum money transfer amount and limit transfers to a proportion of your credit limit.

How do money transfer credit cards work?

To organise your money transfer, you must call your card issuer to arrange the transaction.

You’ll need to provide your BIC and IBAN to your card issuer and all transfers will be subject to credit approval.

There’s usually a minimum amount you can transfer, for example, €100 and a maximum, which is often up to 95% of your credit limit.

It can take 1-2 business days for funds to reach your bank account.

Is interest charged on money transfers?

You may find a card with a 0% or low introductory rate, but the interest rate on money transfers is typically based on the standard variable rate applied to your account.

If you repay your balance in full before your next statement, you won’t have to pay interest on the money transfer.

If you can’t repay in full, you’ll need to pay at least your minimum monthly repayment on time each month to avoid penalties.

Be aware that you could forfeit any promotional rates if you don’t make a minimum payment or stay within your credit limit.

When to use your money transfer credit card

Money transfers with your credit card can be one of the cheapest ways of covering a shortfall or paying off a short term, high-cost debt, but the facility needs to be used wisely.

Money transfers are worth considering when:

  • You are within the promotional rate period and a 0% rate applies to money transfers
  • You know you can repay the money transfer balance in full and on time (if interest charges apply)
  • You have a shortfall in your current account due to unplanned expenses
  • You need funds but want to avoid cash advance fees on your credit card
  • You require money in your account within 2 days, but not instantly
  • You have a good credit rating and a high credit limit

Where to get a money transfer credit card

Providers that offer a money transfer facility with their credit cards include:

Some offer promotional rates, but terms and conditions apply so check before you apply for a card or need to transfer money into your account.

You can compare cards with our free and simple credit card comparison tool.

One Card
One Card
0% for 9 months
Balance Transfers
0% for 3 months
Typical APR
€150 cashback i
Offer valid from 2nd February 2024. €150 cashback on One Card subject to a balance transfer of at least €1,000 within 90 days of account opening, cashback payable within six months of account opening. Certain transactions are excluded. T&C's apply.
0% on Money Transfers for 12 months
Avantages® loyalty programme i
Over 300 always-on offers. More discounts and less restrictions from 100’s of your favourite top brands. Plus exclusive experiences, customer days, and competitions for you and your family.

Are there any disadvantages to money transfer cards?

There are many borrowing options when money is short, for example, taking a personal loan or using your overdraft, which all have pros and cons. Money transfer cards can offer many benefits but also some pitfalls.

Here’s a look at the pros and cons of using a money transfer credit card.


  • It’s a flexible way to raise extra funds for unplanned expenses
  • It’s simpler and quicker than taking a short term loan
  • It may work out less costly than going into overdraft for a month
  • It’s cheaper than making a cash withdrawal on your credit card


  • Interest will be charged if you don’t repay the borrowed amount on time and in full
  • Transfer requests are subject to credit approval
  • You can’t get the money instantly
  • It’s not suitable for long term borrowing

Find the best money transfer cards

Here’s a couple of tips to help you find the best money transfer credit card:

  • Consider whether using a money transfer facility is the right credit option for your financial situation.
  • Shop around and compare promotional rates, but always check what interest rate applies once the introductory discount has finished.
  • Check the terms and conditions to find out if you have to do the money transfer within a specific time to benefit from discount rates.
  • Find out what other benefits the card issuer offers; do they offer a competitive balance transfer rate or 0% on purchases.

Money transfer credit cards FAQs

Will a money transfer affect my credit rating?

Transferring money from your credit card affects your credit rating in the same way as other credit card borrowing.

If you miss a repayment or regularly make late payments it may leave a mark on your credit record and negatively affect your credit score.

What is a balance transfer card?

A balance transfer card allows you to move your outstanding credit card balance to a new credit card. They are usually offered with a promotional discount for a set number of months.

A 0% balance transfer can make your existing credit card debt cheaper and easier to manage by reducing how much interest you pay.

Is a money transfer the same as withdrawing cash on my credit card?

No, taking a cash advance on your credit card via an ATM often works out an expensive way to access funds from your credit card because you are charged a percentage of the withdrawal every time you make one, plus interest on your balance.

As of June 2024, card issuers like Avant Money and An Post don’t charge credit card transfer fees, and you will only pay interest on the amount borrowed at the rate set by your bank.

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Typical Annual Percentage Rate (APR) is based on purchases of €1,500 and a credit limit of €1,500 plus annual Government Stamp Duty of €30. Data valid as of 12/07/2024