Sainsburys bank balance transfer fee

kezzygirl

Hello, i would appreciate some advice regarding a predicament I find myself in. 
I decided to take out a balance transfer card from sainsburys bank, via money saving expert credit club. I applied for the 29months interest free with 0%on balance transfers. I was approved at 21 months interest free, and what I thought was 0% fee. 

I made a transfer at application, and a further 3 transfers totalling £8000 to the card, believing this was 0% fee. However, I then noticed I had been charged a fee for the transfers, totalling £269. 

I checked my credit agreement and nowhere does it state there would be a fee, nor is there a notification when I applied for the transfer, nor is it stated on the terms and conditions. I complained about this  via telephone, to be informed that this would have been explicit on their website prior to application and there is nothing they can do. My point was, that in nowhere on the credit agreement does it state there would be a fee, nor does it state so when attempting a transfer online. On other credit card website it will give a warning  for example "subject to a 3% fee'. 

I feel I have been misled, as this was not explicit- I also transferred from a 0% card with a decent term left to this card, believing it was 0%. Sainsburys response is as above, which I am obviously unhappy with. Surely there is some responsibility for a balance transfer fee to be made explicit on the credit agreement and at the point of requesting a balance transfer? 

I have also emailed the ombudsman. Any advice appreciated. 

molerat

The credit agreement will not have a specific BT fee mentioned but the summary box will.  The only 21 month card currently on offer clearly has a 3% fee mentioned, in fact there is only one card currently on offer that may have a 0% fee and that is subject to individual circumstances.

Maybe someone who has done a Sainsbury's BT will be along and comment on what you get on screen - did you apply for the BT on a computer or mobile device ?

Brie

It's a long time since I've seen any card with BT that had no fees at all. 

I don't have a sainsbury's card but have others and whenever I do a BT on line I get a pop saying "you will be charged £XXX which is Y% of the total transfer".  When I have phoned in the past to do a BT part of the script always included something similar. 

It's not mentioned on the credit agreement as it's likely to change for subsequent BTs.  

What I find curious though is why you were doing a BT from a perfectly good 0% card with a long term to run.

kezzygirl

Oops, pic I posted previously showed my name and address...try again....this is what is in the summary box 

eskbanker

That section deals exclusively with interest rates, transfer fees must be covered elsewhere....

kezzygirl

Brie said:

It's a long time since I've seen any card with BT that had no fees at all.  

I don't have a sainsbury's card but have others and whenever I do a BT on line I get a pop saying "you will be charged £XXX which is Y% of the total transfer".  When I have phoned in the past to do a BT part of the script always included something similar.  

It's not mentioned on the credit agreement as it's likely to change for subsequent BTs.  

What I find curious though is why you were doing a BT from a perfectly good 0% card with a long term to 

It's not uncommon, I have a couple of transfer cards with 0% fee, these have all been made explicit in my credit agreement and when I have conducted a transfer online. 
My point is, there is not a pop up online to say what the fee is, hence why I completed the transfer believing it was no fee!! With regard to your final point- this is exactly the issue. I did not know it had a fee. 

Carrot007

kezzygirl said:

Brie said:

It's a long time since I've seen any card with BT that had no fees at all.  

I don't have a sainsbury's card but have others and whenever I do a BT on line I get a pop saying "you will be charged £XXX which is Y% of the total transfer".  When I have phoned in the past to do a BT part of the script always included something similar.  

It's not mentioned on the credit agreement as it's likely to change for subsequent BTs.  

What I find curious though is why you were doing a BT from a perfectly good 0% card with a long term to 

It's not uncommon, I have a couple of transfer cards with 0% fee, these have all been made explicit in my credit agreement and when I have conducted a transfer online. 
My point is, there is not a pop up online to say what the fee is, hence why I completed the transfer believing it was no fee!! With regard to your final point- this is exactly the issue. I did not know it had a fee. 

Whenever I have used sainsburys clickling on balance transfer has told me everything.

Usually 2 options.

0% interest for X months with X% fee

or

X% interest for X months with 0% fee

If has always been very clear.

SwatTheLot

I was just now in the process of applying for the Sainsburys balance transfer credit card 21 month 0% interest with NO FEE. 
Was pre-approved 100%. MSE 'Full Spec' link says "To get the 0%, you must transfer within: Three months". 
Directed to Sainsburys web site for application which says balance transfer fee is 1.5% if transfer done on application, so I selected no balance transfer on application...figured will do it after getting the card. 
Then presented with pre-application information doc which says balance transfer fee will be 1.5% for first three months and then NO FEE thereafter up to the 21 month 0% interest period. 
MSE...your web site information is incorrect ; Sainsburys credit card...you are hiding charges in the small print and misleading customers. 
Application cancelled.
I hope this helps forum members.

OceanSound

SwatTheLot said:

I was just now in the process of applying for the Sainsburys balance transfer credit card 21 month 0% interest with NO FEE. 
Was pre-approved 100%. MSE 'Full Spec' link says "To get the 0%, you must transfer within: Three months". 
Directed to Sainsburys web site for application which says balance transfer fee is 1.5% if transfer done on application, so I selected no balance transfer on application...figured will do it after getting the card. 
Then presented with pre-application information doc which says balance transfer fee will be 1.5% for first three months and then NO FEE thereafter up to the 21 month 0% interest period. 
MSE...your web site information is incorrect ; Sainsburys credit card...you are hiding charges in the small print and misleading customers. 
Application cancelled.
I hope this helps forum members.

When I applied for the sainsbury' bank low fee 18 month balance transfer card in February 2021, the sainsbury's bank website said 'A balance transfer fee of 0% or 0.5% applies to transfers make within your first three months, depending on individual circumstances. The charge will depend on your current offer thereafter'. 

On the agreement under heading 'promotional rates' it has a table. One of the columns is 'On balance transfers, related interest and charges'. For that it says 'special promotion rate a year (fixed) = 0%. Then another row 'special promotion period' = 18 month from account openening. 

So, I figured there won't be a charge and did a balance transfer at the time of applying. It (the balance transfer) was successful and I wasn't charged a fee.