Nowadays, millions of people exchange money every day – and most of it isn’t exchanged via cash. Moving money from your debit card to a bank account is one of the most efficient ways to transfer money, and you can start doing it today.
Money transfers from a debit card to a bank account can be made online, at an ATM, in-person, or through an app. App transfers are the most convenient if you have a smartphone, but online banking transfers are easy as well.
Transferring money from a debit card is fairly easy. Most transfers are done instantly, so you can pay and be on your way.
Luckily for you, I’ll show you how to transfer money from a debit card to a bank account. I’ll show you different ways so you can choose the method that works best for you. Let’s get to it!
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Ways to Transfer Money from a Debit Card to a Bank Account
Most debit cards are linked to a bank checking account or a credit union share draft account. However, prepaid cards are not. Instead, they come preloaded with money already on the card.
No matter what type of card you have, you will most likely need to transfer money from that card to an unassociated bank account.
Luckily, you have four easy methods to choose from when transferring your funds. You can transfer money from a debit card online through a debit card issuer’s website, in-person at a bank or ATM that supports your card, or through a third-party app.
1. Transferring Money from a Debit Card Online
Transferring money online has become the norm for most people because of its ease and speed. Here’s how to do it in a few steps:
- Go to your debit card issuer’s website and log into your debit card account. Almost every bank will provide you with an online account to keep up with your account. If you’re unsure if you have an account, contact your bank’s customer service hotline.
- Find the “Transfer Money” section on your account’s home page.
- Enter the amount you want to transfer and the recipient’s name, account number, and transit routing number. These can be found at the bottom of checks or on bank statements associated with the receiving account.
- Follow any online prompts and complete the transaction.
2. Transferring Money from a Debit Card Through an ATM
You can also transfer money from a debit card through an ATM. Note, this only works for transferring money between your accounts. You cannot send money to another person via an ATM. Here’s how:
- Insert your debit card into the ATM.
- Enter your PIN.
- Choose “Fund Transfer.”
- You will be prompted to choose an account for the transaction, either savings or checking.
- Enter the amount you want to transfer and complete the transaction.
- Don’t forget your receipt!
3. Transferring Money from a Debit Card in Person
This is a tried-and-true method for transferring money with a bit of leg work.
- Visit your bank.
- The teller will ask you to insert your debit card into their card machine and enter your pin.
- You’ll need to give the teller the recipient’s name, account and routing numbers, and the amount you wish to transfer.
- The teller should easily be able to make the transfer which will complete in a few days.
- Don’t forget your receipt!
4. Transferring Money from a Debit Card Through an App
Transferring money through apps is the way of the future. Many people are already using this method as it proves to be extremely fast, easy, secure, and reliable. Some of the biggest services include PayPal, Venmo, and Popmoney.
Do note that the person you want to send money to must also be signed up with the same app and have verified their account.
Here’s how you can use these apps to transfer money from your debit card:
- Download one of these apps with iOS or Android.
- Open the app, sign up, and create a username and password.
- The app will ask for your phone number and email address. You will receive a text and email with a confirmation code to verify your account.
- Verify your bank account. It varies per app, but usually, you must submit your routing and account numbers. Then, the app will withdraw or deposit two micro transfers of a few cents each from/to your account, securing the connection and verifying your app account. This may take 1-3 days.
- Most apps have easy-to-find buttons that say “Send Money” or “Request Money.” Click “Send Money”.
- Type the username or details of the person you’d like to transfer money to and double-check it is written correctly.
- Type in the monetary amount and click send.
- These apps provide free transfers that take 1-3 days to process most of the time. For an instant transfer, you may incur a small fee.
Summary: How to transfer money from debit card to bank account
Technology has come a long way in the world of finance. It is now extremely easy to send money quickly and securely online or via apps, but brick-and-mortar options still exist for people who prefer handling their money in person. Either way, there are plenty of options when looking to transfer money from your debit card.
You can transfer money from your debit card to a bank account via ATMs, Apps, Online, and in-person. Be aware, transferring money at an ATM will only work for transferring money between your accounts.
Most banks give you the ability to transfer money through your online banking. However, most people are using apps like Venmo or PayPal for money transfers.
You can always visit a bank branch to transfer money, but it’s the slowest and most inconvenient method.
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