SUPER BALANCE TRANSFER

AA

Hi,

I was impressed with the SBT into bank account.

I tried to do it online with MBNA. I understand that to avoid the heavy 2% transfer fee, I will have to do it on-line on the application. However , I find no column on the online application to SBT into bank account.

How could I SBT with MBNA without paying the fees?

To SBT with EGG(without paying the trasnfer fee) do you do it on the form or over the phone ?

How to SBT with VIRGIN without paying the fees?on application form or phone?

Many thanks
D

david78

See my post today on MBNA 2% fee.

With Egg you can do the SBT on-line easily enough and there is no fee.

If you are wondering whether to get an Egg card or an MBNA one, go for Egg.

Martinslovechild

To SBT with MBNA, you've 2 options:-

1) Once your account is open, you can do the transfer online from their web access portal straight into your bank account.
2) BT an amount from ANY card into your Egg Card account. From there, you can send the cash straight into your current account and then on into your savings/flexi mortgage etc.

Bear in mind that it looks like MBNA may charge for any BT - it pretty much depends on what direction the wind's blowing on the day you decide to do the transfer...

AA

HI,
i dun quite understand the second option.
Do you mean first, BT £100 from credit Card A to EGG card..then how do you SBT from EGG to your Bank account?
They way I understood is , you could just SBT straight from EGG to the bank account without having to BT from Card A to to EGG initially. Have I got it wrong ?

I am getting more confused with the way SBT work.(I have read the SBT articles)

Help
D

Reaper

Do you mean first, BT £100 from credit Card A to EGG card..then how do you SBT from EGG to your Bank account?
They way I understood is , you could just SBT straight from EGG to the bank account without having to BT from Card A to to EGG initially. Have I got it wrong ?

If all you have is an Egg card then you can just SBT it into your bank account and that's the end of it.

But suppose you also have another 0% credit card which does not allow SBTs which you would also like to use. To do this route it via Egg:

First take money off the other card and put it onto the Egg card (through a normal Balance Transfer). Then you can SBT the money from Egg to your bank account.

AA

Thanks...

So if my credit limit is £100 with egg.

I balanced transferred £40 from Card A to EGG..Hence my remaining credit limit with EGG is £60.
Therefore I will only have £60 remaining to SBT from EGG to my bank account...right?

Thanks

Reaper

So if my credit limit is £100 with egg.

I balanced transferred £40 from Card A to EGG..Hence my remaining credit limit with EGG is £60.
Therefore I will only have £60 remaining to SBT from EGG to my bank account...right?

Er... no

Using your example - your Egg card has a £100 limit. Both Egg and Card A start with £0 debt:

1) You ask Card A to BT £40 from Egg even though in reality it doesn't have any debt on it. Now Card A has a £40 debt and the Egg card has a £40 CREDIT
2) SBT £140 from Egg to your bank account. That's the £40 positive balance plus the £100 Egg credit limit.

AA

Hi

Thanks...now I understand. I didn't know we are allowed to BT from a card that has no debt...would this create any problem?
Would egg accept it? Would egg then allow the SBT to bank account? IF they agree , would that mean that we have gone over the credit limit?
becaluse the CREDIT balance is on temporaary right?

THanks

Margaret_Millne

I think technically under most Terms and Conditions you are only able to transfer debt, but how do the card issuers know whether it is genuine debt or not - and more to the point will they care.  They are looking to make money out of you in the long run, and hope you will not pay back in full before they start charging you interest.

Of course you could SBT the cash to your current account from Egg first, then you would have a genuine debt.

AA

Hi,

How could I SBT from MBNA card to Bank ACCount ?

I understand that you have to do it on the application form when you apply to avoid the handling fees fee at 2%.
But I could not find any column on the form whether it is on the paper or online to allow me to do the SBT ?
I just dun want to pay the handling fees

Thanks
D

AA

Thanks

Yes there is place on the form for BT..but no place on the form for SBT.(MBNA)

Do you just write your bank account number on the BT column?

Or is there a special column for SBT?

Thanks