MBNA - 'handling fee' vs 'cash transactions handling fee'??

tinkerbell84

Hello -

OH has had a nice offer through from MBNA today - we're interested in stoozing with it as it will really help with our offset mortgage

But the language is confusing. It says it is a 0% deal on "attached credit card cheques and all new balance transfer transactions."

Then it says (in the little print) that "a handling fee of 3% (min 3 pounds, max 75) will apply to all cheque transactions, balance transfer and money transfers.......... For cash transactions a handling fee of 3% applies (min 3 pounds, max unlimited)"



I'm confused as to what a super balance transfer counts as. He has an Egg money account which could be used as a mule, but can someone please explain the difference between the 2 sets of charges above? Obviously we'd rather cap the fee at 75 quid!

Thank you

NickX

From what you have posted, your Super Balance Transfer either using the cheques or by calling Customer Services will be capped at £75.

You wouldn't want to be doing Cash Advance transactions anyway because they usually incur interest at an extortionate rate.

NickX

tinkerbell84 wrote: »

He has an Egg money account which could be used as a mule,

Alson MBNA allow transfers direct to your Bank Account so you don't need to use the Egg Money as a mule in this case.

tinkerbell84

I know I didn't want to have to need to use the mule Egg account unless it would save money

Thanks for your help - I'll get him to ring them tomorrow :j