MBNA Money transfer card - money transfer facility disappeared

edited 31 March 2020 at 1:29PM in Stoozing: free cash from credit cards
7 replies 1.3K views
gwapenutgwapenut Forumite
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Logging in today I see no option to performa  money transfer. It seems it's been withdrawn, and Lloyds banking group claim they don't need to inform me,
My understanding was that it was part of my T&Cs for life until they changed and that they'd need to inform me of a change to T&Cs.
Anyone else got any experience of this?
It was originally an "MBNA Low Rate Credit Card", where money transfers had no fee, and the APR was 6.5%

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  • BillytheGoatBillytheGoat Forumite
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    Typical Banks, at a time when people are going to need credit facilities they can manage, my balance transfer deals from Barclays, Nationwide and MBNA have all disappeared this month. They have been offering them for years now with slight changes every month to rates and duration, not anymore, cynically removed.
  • BillytheGoatBillytheGoat Forumite
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    And Tesco have chopped it to 8 months for 2.99%. Wonder why people have no time for banks
  • edited 9 April 2020 at 11:52PM
    hugheskevihugheskevi Forumite
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    edited 9 April 2020 at 11:52PM
    I have the same MBNA card and found the same issue last week. It was very hard to even get the customer service centre staff to understand the issue the first time I called (and suspiciously got disconnected when put on hold by an operator), but the second time I called them I spoke to a guy who understood, but there wasn't anything he could do.
    I don't have a great need for the card any more, so decided to close it. I did have an in-credit balance of over £30K due to not having been able to make money transfers (I only used to card to receive 0%, nil fee balance transfers from other cards and then use the MBNA card to move the money from the transfer into my bank account without any charges or interest), and MBNA just transferred the in-credit balance to my bank account and closed the card.
    I suspect that if you want to keep the facility you might be able to call them each time and persuade them to transfer an in-credit balance to your bank account (assuming you don't want to use the card to borrow). Arguing the T+Cs route might eventually work via their complaints process, but even then their system doesn't seem set up to conveniently make money transfers any more. As all roads seemed to lead to a lot of phaff I just decided to ditch the card.
  • edited 9 April 2020 at 11:59PM
    ThrugelmirThrugelmir Forumite
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    edited 9 April 2020 at 11:59PM
    gwapenut said:
    Logging in today I see no option to performa  money transfer. It seems it's been withdrawn, and Lloyds banking group claim they don't need to inform me,
    My understanding was that it was part of my T&Cs for life until they changed and that they'd need to inform me of a change to T&Cs.
    Anyone else got any experience of this?
    It was originally an "MBNA Low Rate Credit Card", where money transfers had no fee, and the APR was 6.5%
    No different to the lender changing your credit limit. Certainly not a T&C of your account. There's no automatic entitlement or rights.. Other than the lenders to take actions as they wish. 
  • gwapenutgwapenut Forumite
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    gwapenut said:
    Logging in today I see no option to performa  money transfer. It seems it's been withdrawn, and Lloyds banking group claim they don't need to inform me,
    My understanding was that it was part of my T&Cs for life until they changed and that they'd need to inform me of a change to T&Cs.
    Anyone else got any experience of this?
    It was originally an "MBNA Low Rate Credit Card", where money transfers had no fee, and the APR was 6.5%
    No different to the lender changing your credit limit. Certainly not a T&C of your account. There's no automatic entitlement or rights.. Other than the lenders to take actions as they wish. 
    Don't they need to inform you if they change your credit limit?
  • edited 10 April 2020 at 12:17AM
    ThrugelmirThrugelmir Forumite
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    edited 10 April 2020 at 12:17AM
    gwapenut said:
    gwapenut said:
    Logging in today I see no option to performa  money transfer. It seems it's been withdrawn, and Lloyds banking group claim they don't need to inform me,
    My understanding was that it was part of my T&Cs for life until they changed and that they'd need to inform me of a change to T&Cs.
    Anyone else got any experience of this?
    It was originally an "MBNA Low Rate Credit Card", where money transfers had no fee, and the APR was 6.5%
    No different to the lender changing your credit limit. Certainly not a T&C of your account. There's no automatic entitlement or rights.. Other than the lenders to take actions as they wish. 
    Don't they need to inform you if they change your credit limit?
    They do. However it's always at their discretion. 
  • Mr87Mr87 Forumite
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    Interestingly just saw Hfax have removed both my money transfer and BTs @0% and keeping the low interest (3.9% 36 month) option only. Virgin still offering 0%, but with their hefty fee. Doesn't matter to me as I won't be using, but thought I'd share.
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