Credit Card To Bank Account Money Transfer | Transfer Money From Credit Card To Bank Account

Summary

This video tutorial demonstrates how to transfer money from a credit card to a bank account without incurring charges, using the Housing app. The presenter guides viewers through the process, highlighting the app's features like 'pay on credit' and the use of an invite code to save on fees. However, the video also transparently reviews the limitations and potential fees for subsequent transactions, emphasizing the importance of genuine information over misleading promises.

Takeaways

• 💳 The video demonstrates how to transfer money from a credit card to a bank account without charges using the Housing app.
• 🛠️ Third-party applications like Google Pay, PhonePe, and Mobikwik typically charge a fee for such transfers, ranging from 1% to 3%.
• 📲 The Housing app, primarily for real estate transactions, also offers a feature to transfer credit card funds to a bank account.
• 🔑 An invite code (CCTB13) is required to avoid charges on the first transaction, potentially saving the user money.
• 💼 The process involves selecting a payment reason (like tuition fees), entering bank account details, and using the invite code to get a discount.
• 🔢 The first transaction using the invite code results in a cashback, which is credited to the user's app wallet.
• ⏱️ Cashback from the first transaction can be used for subsequent payments, potentially reducing or eliminating fees.
• 🚫 After the initial transaction, the app starts charging fees for further credit card to bank transfers, typically around 1% to 2%.
• 📈 The video provides a step-by-step guide, including screenshots and calculations, to illustrate the process and associated costs.
• 🔍 The presenter emphasizes the importance of understanding the limitations and fees associated with the app after the first free transaction.
• 👍 The video encourages viewers to like, subscribe, and comment if they find the honest review helpful and motivating for further content.

Q & A

What is the main topic of the video?

The main topic of the video is demonstrating the process of transferring money from a credit card to a bank account using a specific app without incurring any charges.

What are the third-party applications mentioned in the video for transferring credit card limits to a bank account?

The video mentions Google Pay, PhonePe, and Mobikwik as examples of third-party applications that can be used for transferring credit card limits to a bank account.

What percentage charges do these third-party apps typically impose for such transfers?

These apps may charge anywhere from 1% to 3% for transferring credit card limits to a bank account.

What is the name of the app demonstrated in the video for transferring money without charges?

The app demonstrated in the video is called 'Housing: Buy, Rent, Sell & Pay.'

What is the primary purpose of the Housing app according to the video?

The primary purpose of the Housing app is to facilitate property transactions such as buying, renting, and selling properties without a broker.

How does the video assure viewers about the genuineness of the process?

The video assures viewers by providing a live demonstration, discussing limitations, and emphasizing that the reviewer will not compromise on giving an honest review for the sake of views.

What is the invite code mentioned in the video for the Housing app?

The invite code mentioned in the video for the Housing app is CCTB13.

What is the process to enter the beneficiary account number in the Housing app as described in the video?

The process involves entering the beneficiary account number, re-entering the account number for confirmation, entering the IFSC code, and the beneficiary's name.

What is the cashback mechanism described in the video after making a payment through the Housing app?

After making a payment, the user receives a cashback amount which is added to the wallet of the Housing app. This cashback can be used to offset future payments.

What is the fee structure for transactions after the first one as per the video?

After the first transaction, the video suggests that users will have to pay some fees for subsequent transactions, which could be 1% or 2%.

How does the video demonstrate the calculation of fees that would have been charged without the invite code?

The video uses a calculator to demonstrate that without the invite code, a 1.6% fee would have been charged on the transaction amount.

What is the video's stance on providing honest reviews and feedback from viewers?

The video emphasizes the importance of providing genuine reviews and encourages viewers to like, subscribe, and leave positive comments to show appreciation and provide suggestions for improvement.

Outlines

00:00

💳 Transferring Money from Credit Card to Bank Account for Free

This paragraph introduces the video's purpose, which is to demonstrate how to transfer money from a credit card to a bank account without incurring any charges. The host mentions using third-party apps like Google Pay, PhonePe, and Mobikwik, which typically charge a fee, but promises to show a live demonstration using the Housing app. The app, primarily for real estate transactions, has a feature for transferring credit card money to a bank account. The host walks through the initial steps of installing and setting up the app, highlighting the need for permissions and navigating the interface.

05:02

🔑 Using the Housing App for a Fee-Free Transaction

The host continues the tutorial by explaining how to use the 'pay on credit' feature within the Housing app. They detail the process of selecting 'tuition fees' as a transaction type, entering an amount, and providing bank account details for the transfer. The importance of entering an invite code (CCTB13) to avoid charges is emphasized. The host calculates the potential fees without the invite code, revealing a 1.6% charge, and demonstrates the process of entering credit card details and making the payment. The video promises a genuine review, including the limitations of the app.

10:06

💼 Cashback and Transaction Process in the Housing App

This paragraph describes the cashback feature of the Housing app. After making a payment, the host receives a cashback of 202 rupees, which is added to their app wallet. They explain that the first transaction is essentially free due to this cashback, but subsequent transactions will incur fees. The host also discusses making a second transaction, using the wallet balance to save on fees, and the process of receiving cashback, which may take time to credit to the wallet. The paragraph emphasizes the app's utility for a few free transactions but clarifies that fees will apply after the initial use.

15:06

📊 Honest Review and Conclusion on Using the Housing App

The final paragraph wraps up the video with an honest review of the Housing app. The host confirms that the first transaction can be completed for free by using the invite code, but subsequent transactions will have associated fees, typically around 1% to 2%. They encourage viewers to like, subscribe, and comment if they find the review helpful, and they promise to continue providing honest and analytical reviews of apps and services.

Keywords

💡Credit Card

A credit card is a payment card issued by a financial institution that allows cardholders to borrow funds to pay for goods and services. In the video's context, it is used to transfer the cardholder's limit to a bank account. The script mentions transferring 'your entire credit card limit to your bank account without any charges', which is the core process being demonstrated.

💡Bank Account

A bank account is a financial account maintained by an individual or business at a financial institution, used for payment and receipt of money. The video's theme revolves around transferring funds from a credit card to a bank account, as seen in the phrase 'transferring money to a bank account using a credit card'.

💡Charges

Charges refer to fees or costs incurred for a service or transaction. The video discusses avoiding charges when transferring money, as indicated by 'doing this with zero charges' and 'some are changing 1%, some 2%, and some even charge 3%'.

💡Third-Party Applications

Third-party applications are software programs or apps not developed by the primary service provider but are used in conjunction with their services. The script mentions apps like Google Pay, PhonePe, and Mobikwik as methods to transfer credit card limits to a bank account, but notes their associated charges.

💡Housing App

The Housing app, as mentioned in the script, is a specific third-party application used for buying, renting, selling, and paying for housing-related transactions. It becomes the central tool in the video for demonstrating how to transfer money from a credit card to a bank account without charges.

💡Tuition Fees

Tuition fees are the charges paid for academic instruction or training. In the script, 'tuition fees' is used as a category under 'pay on credit' in the Housing app to facilitate the transfer of funds from a credit card, as shown when the demonstrator selects 'tuition fees' as the payment category.

💡OTP (One-Time Password)

An OTP is a temporary and automatically generated password used for secure transactions. The video script describes using an OTP for verification during the fund transfer process, as evidenced by 'an OTP will be sent to my mobile number for verification'.

💡Cashback

Cashback refers to a rebate or return of a portion of the amount spent on a purchase or transaction. The video explains that using the Housing app for the first time results in cashback, as seen in 'you'll get a cashback of 202' and 'the total cashback you got is 217 rupees'.

💡Invite Code

An invite code is a unique code used to refer new users to a service or application, often providing benefits to both the referrer and the new user. In the video, the invite code 'CCTB13' is crucial for avoiding charges on the transaction, as mentioned 'You've to enter this code as invite code – CCTB13'.

💡Transaction

A transaction refers to the act of conducting a piece of business, such as the transfer of funds. The video script details the process of a transaction from a credit card to a bank account, highlighting the steps and the use of the Housing app for this purpose, as in 'the payment is being processed'.

💡Genuine Review

A genuine review is an honest and unbiased assessment of a product or service. The video script emphasizes the presenter's commitment to providing a 'genuine review' and not misleading viewers for the sake of views, as stated 'I'll be clear about its genuineness, whether it's real or not'.

Highlights

The video demonstrates how to transfer money from a credit card to a bank account with zero charges.

Third-party applications like Google Pay, PhonePe, and Mobikwik usually charge 1% to 3% for such transfers.

The presenter will provide a live demonstration of transferring the entire credit card limit to a bank account without charges.

The Housing app is suggested for free credit card to bank transfers, which is not commonly known.

The Housing app's primary purpose is for real estate transactions but has a feature for credit card payments.

The process involves selecting 'pay on credit' and choosing a payment category such as 'tuition fees'.

An invite code CCTB13 is required to avoid charges on the transaction.

Entering the invite code results in a discount, effectively making the first transaction free.

The presenter emphasizes the importance of honest reviews and not misleading viewers for views.

After the first transaction, a cashback is provided which can be used for subsequent transactions.

The cashback amount can vary, and it may take time to be credited to the user's wallet.

The presenter shows a second transaction using the cashback from the first transaction, reducing the cost.

The video clarifies that while the first transaction is free, subsequent ones may incur a fee.

The presenter provides a step-by-step guide on entering bank and credit card details for the transfer.

The video includes a live demonstration of the payment process and the use of OTP for verification.

The presenter discusses the limitations of the app and the fees that may apply after the initial free transaction.

The video concludes with an encouragement for viewers to like, subscribe, and comment for more honest reviews.

Transcripts

Hello friends, in this video we'll show you the entire process of

transferring money to a bank account using a credit card from home.

We'll also demonstrate how to do this with zero charges

I'll provide a live demonstration of how to transfer

your entire credit card limit to your bank account without any charges

There are several ways to transfer your credit card limit to your bank account.

You can use various third-party applications

like Google Pay, PhonePe, Mobikwik, and many others.

But as you know, everything comes with a price.

These apps, some of them are changing 1%, some 2%, and some even charge 3%.

Suppose, you want to transfer 10k rupees, so you'll be charged 3% a

and the rest will be deposited in your bank account.

But in this video, I'll show you live what you must do

I'll tell you the exact process.

There are plenty of videos on YouTube,

and recently, many have been posted

explaining how to transfer credit card money to a bank account.

You can certainly do it for free.

but in this video, I'm going to show you the live process and also its limitations.

Most explain it on the surface level and say that it can be done without any charge.

It's true, but the limitations of that app that you'll face later on

I mean, it won't be free for life

so, that's why, I'm going to talk about the limitations as well.

I'll not compromise on giving an honest review for the sake of views.

I'll be clear about its genuineness, whether it's real or not,

how many times you can do it for free etc., I'll tell you all about that.

You don't have to worry at all,

let me show you the entire process live now.

First, you've to go to the Play Store

and install this app called Housing: Buy, Rent, Sell & Pay.

I don't think it's clearly visible here.

Let me turn on the screen recorder – that'd be better.

Let's turn it on

so, first, the Housing app – I'll show the screen recording on the side as I go along

so, I've to install this application.

After the installation, this kind of interface will appear.

Now, this app is asking for basic permissions, so you've to click on 'allow' 2-3 times.

After granting the permissions, this kind of interface will appear.

And this is the main page.

There are a few different options, like, home search,

pay on credit, post your property, etc.

So, here in this app, if you have a property to rent, then you can list it.

If you're a tenant looking for a place to rent somewhere, then you can look up here.

This is the primary purpose of this app.

You can also buy or sell properties without a broker.

So, that's what it's for. This app is going viral nowadays

so, with the help of this app,

you can also transfer your credit card money to bank account

it has that feature.

So, first, we've to click on the second option, i.e., 'pay on credit'.

As soon as I click on it, a lot of options will appear.

There are various ways to transfer credit card money to a bank account.

For example, you can show it as a rent payment or an education payment.

If I choose the rental payment,

then there are a lot of credit cards or banks nowadays,

who charges extra if we use the credit card for rental payments.

So, it's not useful anymore

we could use the rental payment hack before,

but recently, this rent payment method has become useless.

So, we can use the education payment method. You can select education fees,

tuition fees or anything else per your wish.

So, for example, I'm clicking on the 'tuition fees' option.

As soon as I click on it, it asks for an amount on the next page.

I'm entering 25k here, for instance.

After that, it shows the 'continue' option at the bottom.

So, I'll simply click on 'continue'.

On the next page, it asks me to enter the beneficiary account number,

that is the number of the savings account where you want to send the money.

I have an account with ICICI Bank, so I'm entering that account number here.

Just a second – so, I've entered the account number.

You've to re-enter the number below. So, re-enter the same account number.

Next, as per instruction, I'm entering my IFSC code here.

Then I've to enter the name of the beneficiary.

So, since it's my account, I'm entering my name here.

So, I've entered all the details of my savings account.

After filling out the details, you can see here written at the bottom

Paying tuition fees of INR 25000".

So, 25k rupees is about to be transferred to my account.

Alright, now I'll click on the 'continue' option.

After that, it asks for my mobile number, so I'm entering my mobile number here.

Next, I click on the 'done' option at the bottom.

Then, an OTP will be sent to my mobile number for verification.

So, the OTP that you'll receive – I received mine – and I'll type OTP here.

After entering the OTP, I'll click on 'done' again.

As soon as I do that, on the next page it says, "You have an invite code".

You've to enter this code as invite code – CCTB13.

You can copy it from here or note it down.

Whenever you apply, you'll have to enter this code,

only then the amount will be zero, otherwise, you'll be charged.

As soon as I entered the invite code,

it says here, "You have saved Rs. 201".

So, I wanted to transfer 25k from my credit card

we've not entered the details of the credit card yet;

we've only entered the details of the savings account to which we're transferring,

and we've to put the credit card details later on.

So, we wanted to send 25k and here we've got a discount of 201 rupees.

But we'll see the fee it's going to charge.

But for now, 24799 rupees will be deducted from my credit card,

and the amount to be deposited in the savings account is 25k.

But 24799 will be deducted. It's what showing right now.

Let's see how the figures change later on.

After filling out the details, I'll click on the option of 'Pay Rs. 247999'.

After that, on the next page, it asks to enter my credit card details.

I've already entered the details of the account where the money is to be transferred,

now the details of the card from which the money is sent must be entered.

So, let me quickly enter my credit card number.

So, I enter my credit card number;

then CVV, the cardholder's name, and the expiry month need to be entered as well.

After filling in all these details, when I enter the CVV number,

it shows at the bottom that I'll be charged 25202 rupees.

Now, look at this – what was it saying earlier?

Let me show you again

It was mentioned that 24799 would be deducted,

but it is not being deducted.

Well, if didn't give you the invite code – if we didn't enter the invite code,

then in that case – well, it's showing 25202 now;

but due to the invite code, you saved 201 rupees.

But hadn't you put the invite code then how much would have been deducted?

25202 plus the 201 that was discounted;

that means, on 25k, 202 extra is already changed,

plus the 201 would have been charged as well. So, it would amount to 403 rupees.

Let me show you in the calculator – just a second

I'll open the calculator here and show you.

So, if you take this 403 rupees against 25000,

and multiply with 100, then – as you can see, a 1.6% fee is charged.

So, a 1.6% fee would've been deducted had we not put in that invite code.

Okay, so no problem. I have put in that invite code

and now I will click on the payment option.

Now some of you will wonder that, just now I said that the fee would be 0%.

That will surely happen, and I will show you the real truth behind this and everything.

I will give you a genuine review.

I want to clarify one thing about my channel:

I will not give you anything misleading just for the sake of more views.

If I wanted, I could have said 0% and made many of you install this app,

I would like to make one request to you.

If I wanted, I could have said 0% and made a lot of you in install this app

which would have gotten me a lot of views.

But here, I want to make a request to you.

All the videos on this channel are genuine.

If you appreciate the effort, please like this video, subscribe to the channel,

and leave a positive comment like-

'This is the best video,' or share your own genuine thoughts.

Your feedback will keep me motivated.

Also, please give us your suggestions on how we can improve.

Alright. Now, as soon as I click on 'Total Pay Rs. 25202'

well, it's loading, it's taking a little time to process the payment.

So, you've to wait a bit – the 'LOCON SOLUTION' or whatever it is here is loading.

The payment is being processed. Now, an OTP is sent to my phone.

So, you have to enter the OTP in order to verify.

So, after entering the OTP I have to click on the 'submit' option below.

Then, it's processing again.

Here, as I mentioned earlier,

I had put the invite code in the beginning, which saved me 201 rupees.

As soon as you make the payment of 25202, you'll get a cashback of 202.

So, you can see the 202-rupee cashback has been added to the wallet of this app.

You'll get another cashback card.

As you can see here, this has to be pulled downwards.

So, when you drag this below, you'll get another cashback of 15 rupees.

So, what happened is that we made a payment of 25K.

Not only did we make the payment for free,

but we also received a cashback of 15 rupees.

But now let me show you another thing.

Now, it's showing here that the total cashback you got is 217 rupees.

Out of this, 202 was deducted from my credit card.

The total amount deducted was 25202.

But, I got one cashback of 202 and another of 15 rupees,

so the total cashback in my wallet is 217 rupees.

So, when I see my payment history,

it shows that a total of 25202 rupees as tuition fee

has been deducted from my credit card.

Now, it's processing.

So, 25202 rupees has been deducted.

Sometimes, the transfer is instant, although instant transfers are rare.

Usually, if you make the transaction at noon,

it takes until the evening to transfer the payment.

I had already done this process on another phone.

I made the payment around noon, and it was for 25K.

In that case, the transfer of payment took place by the evening.

Here again, I will take a screenshot and show you.

At that time, it showed that the transaction was under process,

and it was completed by the evening.

well, just a second...

Here, the cashback had not been credited yet.

But the payment was completed by the evening. Let me show you the screenshot.

the payment of 25k that was transferred to ICICI Bank's account.

But the cashback didn't come till the following day.

Perhaps the issuance of cashback takes time here.

But let me tell you one thing

the cashback will come for sure, it's not a big deal

But let me tell you that the first time you make a transaction through this

I mean, the first time you installed this app, put the invite code,

and the 202 rupees that were deducted and then credited to your account as cashback.

So, no matter the amount, your first transaction from credit card to bank account

will be done for free.

But when you try to do another transaction for the second time,

we're back on the page again. You can see at the side, the option 'Pay New'.

So, if I click on 'Pay New', again the same options will appear,

the rental payment, educational payment, etc.

So, I'm clicking on 'tuition fee' once again,

and enter the amount of 5k rupees.

You already know the process – so, I enter 5k here.

Then, I put my bank account number, IFSC code, beneficiary's name, and all the details.

After entering all these details, it's showing below that 'you are saving Rs. 118'.

Why? You can see here, it's written, 'Pay using Housing wallet',

which has a balance of 217 rupees and has a tick beside it.

So, from the 217, 118 rupees will be deducted.

It means, from the 5k that you're sending, 118 has been deducted,

which they will increase in the next step.

So, they're saying that you will save 118 rupees, as you've 217 rupees in your wallet.

Can you understand? But our wallet is still in process,

so 118 won't be deducted from here.

The money in the wallet is under process, it's not been credited in the wallet yet.

I'm making this video before the money was credited into the wallet.

So, had it been credited in the wallet,

then 118 rupees would have been saved. But that's my own money.

Let's see whether they provide the cashback on the second transaction as well.

So, I'll click on 'Pay Rs. 4882'. When I'll click on that,

then I've to repeat the process, enter the CVV,

and it'll be processed once again.

Then an OTP will be sent and I'll enter the OTP and the processing will start again.

After the successful transaction, the page of cashback will open,

I'll pull it downwards, and now, it shows that I've not gotten any cashback.

So, this is the truth of this app which you will not see anywhere in any other video.

Most people will claim it to be 0%, and I agree with that.

It's not useless either. Well, you can install any app

to transfer money from a credit card to a bank account,

they'll surely charge you. But the good thing is that

you can use it at least the first 2-3 times.

Well, my cashback of 217 rupees is still in process.

Now, here I want to clarify one thing.

When I made the second transaction of 5k, it deducted a further 118 rupees.

So, when I sent 5000 rupees, there was a further deduction of 118 rupees.

I did not get any cashback yet.

So, when I made my first transaction of 25k,

and got a cashback from that transaction, I'm using that cashback here.

So, I could've saved this 118 rupees, if I used the 217-rupee cashback I got earlier,

then this transaction could've become free too.

But ultimately, I ended up using my old cashback instead of getting a new one

So, the thing is, the app is okay, it's alright.

It's alright if you want to transfer money from the credit card

Overall, you can say that your first transaction can be done for free.

No matter the amount you transfer, when you enter the invite code

and complete the process, your transaction will be free.

But from the next time onwards, you will have to pay some fees, either 1% or 2%.

So, this is a genuine review that I have brought to you.

I hope I have done the best possible analytical review of this app.

So, if you want us to keep up like this and keep making such honest and good reviews,

then please like this video, subscribe to the channel,

and leave a positive comment, so that I stay motivated.

So, for now, this is the end of the video.

Thanks for listening and thank you all.