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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
Find the best rates
Add details about your transfer
Enter your payment details
Finalize your transfer
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.
You should be aware, while credit cards offer convenience for sending money, many Americans struggle with high credit card debt depending on which state they live in, as seen in this credit card debt analysis.
An alternative would be to link your credit card to an app like PayPal or Cash App, but beware of the extra fees that are often included on top of the existing credit card fees.
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 |
|---|---|---|---|
$4.12 | $41.23 | $82.45 | |
$4.12 | $41.23 | $82.45 | |
$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 |
|---|---|---|---|
$30 | $300 | $3,000 | |
$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
Interest charges
Currency conversion fee
Provider's fee
Provider's markup
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.
Although it might seem similar to withdrawing cash from your own account, there are often high fees involved because you’re borrowing the money. It also often involves a higher rate of interest compared to using your card for standard transactions in shops.
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
Debit card
Prepaid cards
Cash
Mobile wallets
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 circumstances:
If you need to send money quickly
If you need to borrow money to send
If you benefit from credit card bonuses
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% |
