Is it possible to transfer money to bank account?

damanpunk

Hi, do any cars allow you to transfer money directly to your bank account? I'm ordering a new car and I'd rather put the 3k I'm short onto a card than extend a loan etc.

geewhiz

Virgin and MBNA allow this, see here

NickX

Only a few rather special cards have this facility (known as SBT or Super Balance Transfer)

These cards include Egg, Egg Money, Post Office Card and any card administered by MBNA (including the Virgin range of cards)

In addition MINT periodically issue Credit Card Cheques that can be paid into a Bank Account at Balance Transfer rates. However, this is the least satisfactory option because the cheques cannot be ordered and you never know when they are going to drop through your letterbox.

jd87

If you need to put some of the cost of the car on your card, then can't you just ask the retailer to do that? They should be able to split the cost, take some of it out of your bank account and some of it off of your card.

Sorry if this isn't possible and I'm stating the obvious. It's just surprising how few people realise you can do this whenever you go in to a shop for example.

If you want to get a card that allows super balance transfers then I think you should get a BMI Amex from MBNA. Go to https://www.flybmi.com and look for a link there. It is 0% interest on tranfers to bank accounts until July '09 and you get loads of BMI destination points (like air miles).

damanpunk

Just to take this one back to the top I ended up getting an MBNA card without even realising. Was at glasgow airport going on holiday and got offered a BT card with 0% on BT for 12 months.

It arrived today with a £13.3k limit :eek: and I can do the transfer into my account as advised

Dunno if thats something to do with my wages but seems a tad high for a 23 year old !!

YorkshireBoy

damanpunk wrote: »

It arrived today with a £13.3k limit :eek: ...
Dunno if thats something to do with my wages but seems a tad high for a 23 year old !!

Did you complete the form, or did the sales rep? If the sales rep did it, did you check what they'd written for your income (and everything else) before signing the form?

damanpunk

Yes mate, watched them complete it. They asked what I earned, I said basic (52.5k)or with OT (72k)?

She said all together (basic inc OT) which I thought was strange?

Bismarck

damanpunk wrote: »

Yes mate, watched them complete it. They asked what I earned, I said basic (52.5k)or with OT (72k)?

She said all together (basic inc OT) which I thought was strange?

hi...a bit off topic but...what do you do to earn 72K at 23 years old? thinking of retraining!

damanpunk

I do steelwork draughting in the oil/gas industry (I'm paid like a contractor but work under a staff basis, i.e. actually work for my employers agency and pay full rate tax), I'm not super clever and I'm just HNC qualified

missile

I guess you will have a balance transfer fee, circa 3%? When I bought my last car I had a 4% cash back deal and just put some of the purchase price onto that card.