Trying to transfer a balance into current account

northender

Hi

Tried to use 0% Halifax card to transfer a balance to a current account (transaction charge of 3%). They wouldn't transfer to a current a/c but suggested I made a c/c payment into current a/c (Nationwide). Would NW hit me with a fee for doing this? Could I open a different c/c which would do the balance transfer?

Thanks in advance

YorkshireBoy

If you want to use the Halifax card you'll need an Egg Money card, or choose another card/method...

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards

NickX

Only a few rather special cards allow transfers into your Bank Account and unfortunately Halifax is not one of them.

This facility, commonly refered to as Super Balance Transfer (SBT) is available with Egg Card, Post Office Card, and cards run by MBNA (including the Virgin range, Alliance & Leicester, Sony, MBNA itself).

Egg Money can be used in conjunction with another 0% card as a mule to move the funds into you Bank Account.

In addition MINT periodically issue Credit Card Cheques that can be paid into a Bank Account at balance transfer rates. However this is not necessarily a satisfactory option because the cheques cannot be requested so, unless they are already in your possession, you don't know when they are going to drop through your letterbox.

Likewise Capital One issue Credit Card Cheques and some are known to attract balance transfer rates, but extra care should be taken because they also issue cheques at purchase rates or even cash advance rates (not adviseable unless you have money to burn).

northender

Thanks for the replies. Yorkshireboy and NickX thanks for pointing that out. I actually have an egg card I haven't used for ages, that makes perfect sense. Thank you so much!:beer:

YorkshireBoy

northender wrote: »

I actually have an egg card I haven't used for ages...

Egg Card (Visa) or Egg Money card (Mastercard)?

If the former, be very careful because you could incur two lots of 3% BT fees.

northender

It is an egg visa but I spoke to them and they said it would be charged at my normal variable rate but no fee.