How to transfer money from a prepaid card to a bank account

Prepaid cards are a great way to control your spending. 

Setting daily, weekly or monthly spending allowances or prepaying cards with a certain amount of money and being strict with your outgoings can allow us to manage our finances better and to keep track of overspending on certain costs that we can look to reduce. 

It is a helpful tool which can come in handy when travelling abroad and dealing with increased international charges. 

Can you send money from a prepaid card?

Yes! You can move money from a prepaid card to a bank account, as long as your card issuer allows it. The exact process, as well as any fees, depends on your card and bank, so it’s a good idea to check your card provider’s website or contact their support for details.

If your prepaid card is already registered and supports transfers, you can use Paysend to send funds directly to a bank account. If not, follow the steps below to transfer money with your card issuer first:

How to transfer money from a prepaid card to a bank account

Transferring money from a prepaid card varies slightly by issuer, but most follow a similar approach. Here’s a step-by-step guide:

Step 1: Confirm that transfers are allowed

Start by checking if your prepaid card can send funds to a bank account. Look on the issuer’s website, app, or in the card’s terms and FAQs, or contact customer support. Make sure to note any fees or transfer limits.

Step 2: Register your prepaid card online

If transfers are allowed, create an online account with your card provider. You may need to verify your identity by providing personal details like your name and address. Once your account is ready, link your prepaid card by entering the card number and required security codes. If online registration isn’t possible, your provider can guide you.

Step 3: Link your bank account

To send money, you must connect a bank account. In your online account, look for “Transfer” or “Send Money,” then enter your bank’s routing and account numbers. Some issuers may require additional verification before allowing transfers.

Step 4: Transfer the funds

Once your bank account is linked, choose the amount to move and double-check all details. Confirm the transaction to initiate the transfer. Any applicable fees will either be deducted from your prepaid balance or charged at the time of transfer.
You can also use Paysend to send money from a prepaid card to a bank account — just follow the steps below:

Send money from a prepaid card to a bank account or card with Paysend

If you want to transfer funds from your prepaid card to another card or bank account safely and securely, you are in good hands with Paysend.  

Paysend allows you to send money quickly and affordably from your prepaid card to a bank or card account at the click of a button. 

Follow these simple steps to transfer money from your prepaid card

1. Download the Paysend app or go online
2. When using the app, click send money
3. Select the country your recipient is in
4. Enter recipient details
5. Enter prepaid card details
6. Click Send

How much does it cost to send money from my prepaid card?

With Paysend, you can send money from a prepaid card to 170 countries globally.

If you want to send money to a bank account from your prepaid card, there are no transfer fees!

And if you want to send money directly to a card, it will only cost you a fixed fee of £1, €1.5 or $2. 

When will your money arrive?

Most of the time, our transfers are almost instant! Your money should arrive with your recipient in less than a few minutes. 

Do bear in mind your recipient bank’s processing time may vary. 

Can you take money out of a prepaid card?

Yes, you can withdraw money from a prepaid card in several ways - by using an ATM, transferring funds to a bank account, or, in some cases, using your PIN for other cash withdrawals. ATM withdrawals usually have daily limits, while bank transfers may involve fees and take a few business days to process. Just make sure you check which methods are supported by your card’s issuer.

ATM Withdrawal

• Find an ATM: Use any ATM that displays your card’s payment network logo (Visa, Mastercard, American Express, etc.).
• Use your PIN: Insert your card, enter your PIN, and follow the on-screen instructions.
• Know your limits: Most prepaid cards set daily withdrawal limits—check your cardholder agreement for details.
• Check for fees: Some cards charge a fee for each ATM withdrawal.
   

Move money from prepaid cards with Paysend!

Paysend is a digital platform designed to help customers manage their finances and experience more freedom and flexibility than other alternatives. Our payments ecosystem allows users to transfer funds online from their electronic devices quickly and easily overseas and benefit from improved rates and a secure interface. 

We have added 50 new countries to our payments network since the start of 2022, meaning that our 7.5 million customers can send money to up to 170 countries and benefit from lower fixed fees, upfront exchange rates, and faster transfer speeds.

If you’re searching for a fast and affordable way to transfer money directly from prepaid cards, look no further than Paysend. 

Download the Paysend app via the App Store or Google Play, or visit us online to get started. 

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