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How to money transfer from a debit card?

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Many techniques are available nowadays to move money from one bank account to another. NEFT, IMPS, and RTGS are just a few of the transfer methods available through your internet banking account. UPI Money Transfer apps, on the other hand, allow for real-time money transfers. Most people are unaware that they can transfer money from a debit card to a bank account, despite the fact that these techniques are widely used. Here, we’ll go over the rules and procedures for debit card money transfers.

debit card
debit card

In order to make an online money transfer from a debit card, you are going to need a debit card.

For you to successfully transfer money from a debit card to a bank account online, you will need the following.

  • On a debit card that is legitimate and in working order, the 16-digit card number, the expiration date, and the CVV code will all be displayed.
  • Details about the recipient’s bank account, such as their name, the bank and branch where their account is held, their account number, and the IFSC code.
  • For OTP verification, both the sender’s and the recipient’s mobile phone numbers are required to be saved. Confirmations of money transfers are sent in the form of text messages.
  • Mobile Banking via Apps The application from your bank

After the completion of the fund transfer process, the beneficiary will receive an SMS alert verifying the money transfer using the debit card, and you will receive a message from the bank announcing the completion of the fund transfer as well as your outstanding amount.

Instructions for Making a Money Transfer Using a Debit Card

You will need to download and activate the mobile banking application offered by your bank before you may move money from your debit card to your bank account. You can also carry out the transfer of funds by going to the website of the bank directly. When that is finished, you may use this step-by-step tutorial to figure out how to move money from your debit card to your bank account.

Launch the mobile banking application for your bank or browse the website for the institution that issued your debit card.

Choose the account for your debit card, and then log in to it. If you have not already done so, you can now set up the details of your debit card by entering the 16-digit card number, the expiration date of the card in MM/YY format, and the CVV number. You may locate the CVV number on the back of the debit card, close to where the magnetic strip is located.

Move the pointer to the portion of the website or mobile app devoted to the money transfer function.

You have the opportunity to set up the details of the recipient at this point, if you have not done so earlier. Setting up an account in the beneficiary’s name typically takes about a quarter of an hour.

After you have established the beneficiary account, you can proceed as in the previous steps to enter the amount of the financial transfer.

Examine the information pertaining to the recipient, then authenticate the financial transaction using the OTP to verify the payment.

After the completion of the fund transfer process, the beneficiary will receive an SMS alert verifying the money transfer using the debit card, and you will receive a message from the bank announcing the completion of the fund transfer as well as your outstanding amount.