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Balance and money transfers

Read answers to frequently asked questions, including timescales for balance and money transfers.

How long does it take for a balance transfer to reach my account?

Approved transfers will reach your account the next business day, unless you make your request after 6pm or on a weekend / bank holiday, when it will take an extra business day. That's so long as your request passes our normal security checks and there aren't delays at your existing credit provider.

What do I need to know about completing a balance transfer?

If you transfer balances from other credit or store cards to one credit card account, that's a balance transfer. It can be useful if you're paying higher interest elsewhere, or just to make things simpler to manage. Just remember handling fees usually apply.

Find out how to make a balance transfer, how long it takes, and what restrictions there are, on our understanding balance transfers page. 

How do I request a transfer and what will I be charged?

It's easy to make a transfer online, here's how:

  • Log in or register for Online Card Services.
  • Select 'Make a Transfer' from the 'Your Account' page.
  • Choose 'Transfer balance' or 'Transfer to account'

You'll need to know:

  • How much you want to transfer.
  • The card or account number you're transferring from/to.

Important info
The maximum amount transferable is calculated by taking 93% of your credit limit and any existing account balance. Please take into consideration all recent transactions, transfer requests or interest and fees which may be deducted from your available credit limit before your next statement is produced.

The maximum amount that you can transfer includes the value of any payments that you've made to us - but which may not currently appear in your 'Available for Cash Purchases' and 'Outstanding Balance' totals.

The 'Make a Transfer' option may not always be available, e.g. if you've missed a payment, you're within 93% of your credit limit or you've exceeded it.

Transfer fees
You'll usually be charged a handling fee on transfers. Any handling fee will be shown before you make your transfer in Online Card Services - the total cost of your transfer will be displayed before you submit your request.  All fees charged will also be shown on your statement when it arrives. To view yours online, visit the 'Statements' section in Online Card Services.

Interest charges
You'll be charged interest on any transfer fee at the same rate as the amount transferred, e.g. if you've got a promotional rate of 0%, you won't be charged interest on the transfer fee. Full details of interest rates are on your monthly statement. Any interest will accrue daily and be charged each statement month.

Check your terms and conditions for more information.

Important: if you plan to pay your balance in full every month to avoid interest on card purchases, please consider whether making a transfer is right for you. Card purchases will only remain interest free if you pay the whole balance (including the amount of any transfer) in full every month, or if you have a 0% promotional rate on card purchases, otherwise interest will be payable.

Useful info
You can also view your interest rates online:

  • Log in or register for Online Card Services.
  • Choose 'View Rates' from the 'Your Account' page.

What do I need to know about completing a money transfer?

A money transfer is when you transfer money from your credit card to your bank or building society account. This can be handy for cash-only purchases - just remember handling fees usually apply and  you won’t have the protection provided by the Consumer Credit Act 1974 for credit card payments, for any goods or services paid for using the funds you've transferred.

For all the details, have a look at our understanding money transfers page.

Is there a limit on the number of transfers I can make?

There's no limit to how many transfers you can make, as long as it's no more than 93% of your credit limit, including your existing account balance.

For security reasons, you can only make one transfer (either money or balance transfer) of the same amount to/from an individual account in any 14 day period.

Can I stop a balance transfer after it has been made?

No, you can't stop a balance transfer after it has been made.

Where can I find a list of current promotional offers?

This info is available online. Just log in or register for Online Card Services to get started. 

Remember: if you go over your credit limit or don't make your minimum payment on time, you could lose your promotional rate.

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