Quickest balance transfer

Joe_Bloggs

It is so often discussed that nobody discusses it anymore. Fortunately Martin has written an article:-
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1076883546,34894,

Make sure that you balance transfer is free or you will lose most of the benefit.

Milarky

With Egg you can't see the payment that puts the account into credit until the following day. But If you assume '2 days' is the period after the requested transfer that the payment reaches Egg you could theoretically balance transfer 'to' Egg 'from' your current account* on the same day - and when you check the account the next day it would show the two payments 'crossing' at the same time. I've not done this yet, however!

As it happens I made a 'surplus' BT 'from' Egg 'to' First Direct last Tuesday, using the full credit limit given, and putting that towards the balance of my 'anniversary' offer from Egg, which ends on 1st August . The payment was recieved on Thursday, but not viewable at Egg until Friday. I know that a direct debit for £60 is due to leave my current account on Monday anyway, so I can check to see if that does leave first [it may not on account of the earlier payment received, but I just do not know] before transferring the exact amount to reduce that balance to zero. [Back to FD current account is the plan!]

*This: "BT' from' card/current account A 'to' card B" description, although correct, sounds precisely the opposite of what happens. Do others instinctively - or naturally think: "BT from card B to card/current account A" as I do?

sicker

Been there, done that

John