Debit Overdraft debt to Credit

Nipper78

I had already read about SBT and that full article, I fail to see here what it has to do with Balance Transfers, seeing as though a Balance Transfer is not what I'm trying to do. As far as I was aware ALL cards pretty much have BACS capability, merely paying a bill or someone, within they're online banking. My Barclays debit has it, I known loads of people with credit cards paying bills/people with they're online banking. So I fail to see why my family members account would need to be SBT, it doesnt make sense. All I'm trying to do is pay a bill as it were to a family member (1 of standing order almost) of say £500, then they via they're online banking do the same BACS payment of £200 with they're online banking (Lloyds most likely) to my debit!??

YorkshireBoy

Nipper78 wrote:

I had already read about SBT and that full article, I fail to see here what it has to do with Balance Transfers...

Read it again!!

As far as I was aware ALL cards pretty much have BACS capability, merely paying a bill or someone, within they're online banking.

Many will have this facility. My own bank provided credit card has. However, this payment WILL be classed as a cash withdrawal.

My Barclays debit has it, I known loads of people with credit cards paying bills/people with they're online banking.

Debit accounts are different. You are sending your own money (unless you're delving into your overdraft).

So I fail to see why my family members account would need to be SBT, it doesnt make sense.

Like I said, read the SBT article again (and again).

All I'm trying to do is pay a bill as it were to a family member (1 of standing order almost) of say £500,

They're not 'merchants'...you're not buying anything...you're sending them CASH.

grumbler

Nipper78 wrote:

I had already read about SBT and that full article, I fail to see here what it has to do with Balance Transfers, seeing as though a Balance Transfer is not what I'm trying to do.

By definition a SBT cards "allow you to pay the money directly into your bank account". Isn't it exactly what you need?

As far as I was aware ALL cards pretty much have BACS capability, merely paying a bill or someone, within they're online banking.

Yes. For example, MBNA cards have this facility. However, the rates are:

17.9% p.a. (variable) on card purchases, balance transfers and credit card cheques
22.9% p.a. (variable) on cash transactions (including money transfers)

and

• there is no interest-free period on cash transactions
• 3% handling fee (min.£3) on: cash transactions (including money transfers).

I known loads of people with credit cards paying bills/people with they're online banking.

I know loads of people who draw cash from credit cards ...

My Barclays debit has it

All debit cards have this, but debit cards are absolutely different from credit cards.

So I fail to see why my family members account would need to be SBT, it doesnt make sense.

See above.

If you or your family member have some other credit card (not Barclaycard) with zero or small balance, draw cash from this card and then transfer the balance to your new Barclaycard. You will pay cash withdrawal fee (about 2%) and interest for a few days while the balance is being transferred.

Nipper78

I've read the SBT article for the 3rd time now, but I've been refused both egg cards and yes the Egg Money is ideal, so tbh I'm not even going to try the mint, besides it seems there's delays and charges with that one anyway.

Man, such a simple task, so many dead ends, things disallowed, expenses, and complexities. I cant believe there's an approx 2+% charge for a mere BACS bank transfer, same as cash which is bad enough. Its also bad enough UK banks keep ahold of the BACS transfer for 3-5 days and profit from it, unlike virtually the most of Europe. So in essence, there making less if I withdraw cash, so that gives me some comfort, the bu&&ers.

I think having just gotten cashback on the debit card to put into the account avoiding being charged for a couple more days, I'm gona do a shop with a relative/friend, pay by card get some more cash to clear the debit once and for all.

Then tbh its the last option withdrawing cash but its roughly the same as BACS and the Banks make less money off cash withdrawals (BACS they invest). So I think that's what I'm just gona do this once to pay back relatives and more. I'll just make more of an effort to make some money back from the banks for once later this year, because of the charges already from Barclays over the years, and all of this, its really pi%%ed me off. No wonder there's headlines on the news of action being taken against credit cards/banks re charges, customer complaints and more. Some stoozing around August time me thinks.

Thanks for all your help guys. Unless I'm missing something again by all means comment, or any other idea's, views, go ahead...cheers.