Transfer fees - question

linzbrown

Hi

I am wanting to transfer money from existing OVERDRAFT to new 0% credit card.
Looking for a low transfer fee: according to MSE, Virgin Card offers 1.9% transfer fee for credit, and 4% for cash.
Are transfers from overdrafts credit transfers or cash transfers?

grumbler

Where are you looking at MSE?

Have a look at Money Transfers

bengal-stripe

linzbrown wrote: »

Hi
I am wanting to transfer money from existing OVERDRAFT to new 0% credit card.

It's the other way round, you transfer money from the new card to an existing debt. That transfer will pay the debt (full or partially) and leave you with a debt on the new card.

Transfer to a CC debt would be a 'balance transfer'; transfer to your current account (to pay-off your overdraft) would be a 'money transfer', costing more and only offered by relatively few cards.

redpete

Cash......

linzbrown

Thank you, esp. Bengal Stripe, makes complete sense.