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MBNA fees clarification
Jeppo
Posts: 35 Forumite
in Credit cards
A couple of weeks ago I wrote a letter of complaint to MBNA about the vagueness of their T & Cs regarding BT fees. I also wanted to know why their staff seemed unable to give me a straight answer. Anyway, here's an extract from a letter I received from Rachel Moss, Head of "Customer Satisfaction":
........In accordance with our terms and conditions a handling fee of 2% is applicable to all balance transfers completed on your account. These fees have been introduced due to the cost associated with handling and processing a balance transfer. I am sorry you have been given various reasons why we may not charge a balance transfer handling fee when you telephoned our office to query this. Following your telephone conversations, I would like to confirm that if you had completed your balance transfer over the telephone, on our website, or provided the details on your application form this fee would be applicable. In the terms and conditions we advise we may charge a fee as occasionally we may have a promotional offer where a handling fee may not be charged, however you would be notified in advance if this was the case. I trust this has clarified the situation and I regret that you have decided to close your account with us.
So there you have it. Unless they notify you in advance, MBNA will charge a 2% handling fee for ALL balance transfers. Just to remind anyone thinking of getting into bed with MBNA - there is no maximum charge, so just be careful!
........In accordance with our terms and conditions a handling fee of 2% is applicable to all balance transfers completed on your account. These fees have been introduced due to the cost associated with handling and processing a balance transfer. I am sorry you have been given various reasons why we may not charge a balance transfer handling fee when you telephoned our office to query this. Following your telephone conversations, I would like to confirm that if you had completed your balance transfer over the telephone, on our website, or provided the details on your application form this fee would be applicable. In the terms and conditions we advise we may charge a fee as occasionally we may have a promotional offer where a handling fee may not be charged, however you would be notified in advance if this was the case. I trust this has clarified the situation and I regret that you have decided to close your account with us.
So there you have it. Unless they notify you in advance, MBNA will charge a 2% handling fee for ALL balance transfers. Just to remind anyone thinking of getting into bed with MBNA - there is no maximum charge, so just be careful!
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Comments
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Jeppo, if your happy with a £35 max BT fee from MBNA, now apply for an A&L card .
https://wwwa.applyonlinenow.com/UKMPapp/Ctl/display?page=terms0 -
Thanks Hobo - I'm in the process of applying to Virgin. I'm not thrilled about paying fees, but if they are capped at £35 it's not as bad as it seems. As it happens I've just been accepted for the Capital One 18 months at 0%, though I'm awaiting a decision about my credit limit.0
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Well done with the Cap One 18mth, got that myself, requested BT`s go through before card arrives( with credit limit)0
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