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  • FIRST POST
    • JUAN8888
    • By JUAN8888 25th Aug 17, 10:45 AM
    • 26Posts
    • 6Thanks
    JUAN8888
    MBNA money transfers
    • #1
    • 25th Aug 17, 10:45 AM
    MBNA money transfers 25th Aug 17 at 10:45 AM
    I recently applied and got an MBNA 4.9% card to use for money transfers. I did one initial transfer for around £8K into my bank account but because it was a new bank account (and the details were different to the one in my application form), it seemed to trip up on their fraud indicators. It took quite a few calls to sort that out and the transfer was eventually completed on Monday.

    I then cleared out the MBNA balance by transferring to another card to leave a nil balance on the account as of Wednesday.

    I've just tried to do another online money transfer to the same bank account but I'm getting a message saying that I need to call them as I've recently used this account for a transfer but it suggests I can nominate another account instead.

    Is this normal for MBNA? The first encounter took so long to resolve going through so many calls and details that I don't really want to go through this for each transfer.

    Do they frown on multiple transfers in a short space of time, or is it just their normal policy to require phone transfers in this situation?
Page 1
    • TheShape
    • By TheShape 25th Aug 17, 12:59 PM
    • 1,011 Posts
    • 770 Thanks
    TheShape
    • #2
    • 25th Aug 17, 12:59 PM
    • #2
    • 25th Aug 17, 12:59 PM
    I made multiple Money Transfers from my MBNA card in March, most only a few days apart but that was to the current account that pays my MBNA card by DD each month. No problems or delays.
    • Chapuys
    • By Chapuys 25th Aug 17, 1:31 PM
    • 127 Posts
    • 102 Thanks
    Chapuys
    • #3
    • 25th Aug 17, 1:31 PM
    • #3
    • 25th Aug 17, 1:31 PM
    When I money transferred from MBNA, I was only allowed to withdraw 95% of the limit.. maybe because you have tried to zero out the account using a transfer, it flagged it up?

    The total transfer amount (which includes any transfer fees) plus any balances already on your account and any transfer requests already made, cannot be more than 95% of your credit limit. This is to allow for future transactions on the account.
    https://www.mbna.co.uk/understanding-credit/understanding-transfers/balance-transfers/
    Anything I say in no way constitutes financial advice and anything you do is your own decision.
    • Mogley
    • By Mogley 25th Aug 17, 11:06 PM
    • 208 Posts
    • 176 Thanks
    Mogley
    • #4
    • 25th Aug 17, 11:06 PM
    • #4
    • 25th Aug 17, 11:06 PM
    I carried out multiple money transfers last month to a different current account each time because of the message you describe. I had no problems with the transfers. On one of them they contacted me directly to confirm I had actually requested it so this delayed one by a couple of days but because I was doing multiple, I suppose they have to check for fraud/money laundering purposes.
    No.25 for 2017 £1070/£4000 saved.
    You should pay attention to the needs of the moment - otherwise there is no future. But to ignore the future is foolish - living solely for the moment leaves nothing for when the next moment arrives.
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