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Pulling Cash From Credit Cards Without an ATM

Updated: Jul 28, 2022

A common question I get is, ‘can I take cash out from a business credit card?’

It’s definitely possible, but it’s slightly different from what you might be used to at an ATM.

No, you’re not taking money out of the ATM with your credit card.

This step-by-step process requires you to spend a little to take full advantage of this hack.

So whether or not you have tons of business credit cards, or you’re working your way to getting more, there are still some investments where you need to pull cash out of the cards.

There are a few methods and I’ll share some of my favorites with you here.

Merchant Processing Method

This method only works if you know someone who has a merchant processor machine. This is one of those chip readers you see at the store.

All they need to do is charge your card with however much you want on that card. Then, you pay it off with one of your zero percent interest cards.

Keep in mind that, you will take a 2-3% fee for the transaction.

Once the transaction is processed and they receive the money into their bank account, they can then just wire you the money back that you sent.

Quick warning: don’t do this on a brand new card!

Spend your regular amount on the first month and then on the second month, go for the transfer. Gradually work your way up to a larger transaction.

You can also do something like this with a smaller merchant processor like Venmo or Paypal but you need to work with a smaller amount of money. The cap for the smaller processors is somewhere under $5K.

Stripe or Square

This is very similar to the merchant process method except it’s done through a stripe or a square.

So, find a friend who is a business owner, who has one of those, and charge your card that way.

There is also a fee for doing a wire with these services, which can range from 2.9-4.5%.

Fund A Bank Account Method

This method doesn't work on every credit card because it's usually considered cash advanced and won't work if you're taking out tens of thousands of dollars.

Quick warning, if it is considered a cash advance, I would personally recommend not doing it. You can check this link to check and see what banks would consider it a cash advance and which do not.

Again, this will not work for tens of thousands of dollars, but it will work for a few thousand dollars if it’s the right bank and the right card.

Want more?

And that's how you use your business credit card for cash.

If you're looking for more information on using business credit, and if you want to dive even deeper, then definitely come and join us in Credit Stacking.

There are more tips out there for pulling cash from your credit card. Especially ones that will not charge you a percentage. You can learn more about all of the different methods by joining the Credit Stacking community! We always cover topics like this and more.

Plus, you get exclusive content with the podcasts I’m featured on. The Credit Stacking community is a fast-growing one. So if you’re looking for financial freedom, be sure to check us out.

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