BT from MBNA to Current Account via Mint - can this be done?

Jaxer

MBNA have agreed to reduce their BT fee from 5% to 3% if I do it as an actual transfer against another credit card balance, or 4% as a transfer to my current account. I have small balance sitting on my Mint card (say £5K) which I do want to pay off but I was also looking to transfer an additional amount to my account for other purposes. Will there be a problem if I "over-transfer" from MBNA to Mint, ie. I ask MBNA to send a payment of £10K to my Mint card, and then request Mint to transfer the credit balance of £5K to my current account? I haven't done a BT for some time so I'm not sure what the current situation is. Thanks for any tips.

Moggles_2

Personally, I wouldn't risk it. Credit cards - other than Egg Money - are not designed to carry a positive balance.

Most lenders are relaxed about modest sums that arise temporarily (due to a refund, for instance, or making a one-off manual payment too close to your direct debit payment date), but the Ts & Cs usually prohibit payments that deliberately place the account in credit.

Lenders' procedures vary, but if your BT calculations were out by a four figure sum, Mint could insist the funds were returned to MBNA, in order to comply with anti-money laundering regulations.