0% interest balance transfers question

Midmac

In martins section of financing a new vehicle puchase it says :

Put it on a 0% credit card. If you only need a few thousand, have a good credit score or can repay quickly, a 0%, or combination of 0%, credit card(s) is the absolute cheapest borrowing. A number of cards offer over 9 months introductory 0% deals on purchases (see Best Card For Purchases article). When the 0% period ends, simply transfer any remaining debt to a 0% balance transfer offer card (See Best Balance Transfers article). This should only be done if you’re financially on the ball.

I have just read the T&Cs on the mnba card website about their 0% balance transfers.

It says in the definitions:

balance transfer – a payment you ask us to make from your account to another financial organisation which is not a money transfer and which pays off or reduces the amount that is owed to them.

Does this mean if i moved say £1000 over to my bank current account it would not be classed as a balance transfer ? and would therfore have to pay interest.

I dont understand how this would work ?

Midmac

Al_Mac wrote:

Balance transfers are to credit cards. Some credit cards allow it to bank accounts, but not MBNA. Don't do it:eek:

Thanks
do you know of any that do ?

I could make my bank balance go into my overdraft which surely would count as a financial company I owe money to ?

Midmac

Cheers Al, on my way over there now