International Balance Transfer

stu2500

Hi, I have searched the forum and online for this but can't seem to find a definitive answer, can anyone advise if I can transfer a balance from an Australian AMEX to a UK based credit card? My friend was travelling in Australia and has now settled back in the UK (UK resident). If so, can anyone recommend a provider. If not, I imagine the alternative is a money transfer interest free.

Thanks.

Shanwick

You would have to use an indirect approach involving cash/currency transfers.

stu2500

Shanwick said:

You would have to use an indirect approach involving cash/currency transfers.

A money transfer into my bank account then pay the card off? 

Shanwick

Does he have a bank account in Australia from which to pay the AMEX?

stu2500

Shanwick said:

Does he have a bank account in Australia from which to pay the AMEX?

Yes, they use transferwise to transfer in to the AUS bank account, then pay from there. 

Ebe_Scrooge

stu2500 said:

Shanwick said:

You would have to use an indirect approach involving cash/currency transfers.

A money transfer into my bank account then pay the card off? 

Basically yes.  So you get a standard UK-based money-transfer card, put the cash into your bank account, then use that to pay off the Amex card.  Paying a fee for the initial money-transfer, any FX fees that are imposed, and potentially taking a hit on the exchange rate.  Can your friend not just pay off their card themselves before returning to the UK?  That would probably be cheaper all round.

I'm worried by the fact that your opening post refers to "your friend" was travelling, but here you're talking about a MT into "your" account.  You're not contemplating paying off your friend's debt for them, are you? How to end a friendship in one easy lesson.

stu2500

Ebe_Scrooge said:

stu2500 said:

Shanwick said:

You would have to use an indirect approach involving cash/currency transfers.

A money transfer into my bank account then pay the card off? 

Basically yes.  So you get a standard UK-based money-transfer card, put the cash into your bank account, then use that to pay off the Amex card.  Paying a fee for the initial money-transfer, any FX fees that are imposed, and potentially taking a hit on the exchange rate.  Can your friend not just pay off their card themselves before returning to the UK?  That would probably be cheaper all round.

I'm worried by the fact that your opening post refers to "your friend" was travelling, but here you're talking about a MT into "your" account.  You're not contemplating paying off your friend's debt for them, are you? How to end a friendship in one easy lesson.

No, don't worry about that, it's just the way I am typing, I certainly won't be paying anything for them, I'm purely after advice on the best way to do this. It sounds like the money transfer is the best way, but will inccur several costs/fees. They don't have the money to pay off their card balance fully at the moment. 

Ebe_Scrooge

stu2500 said:

Ebe_Scrooge said:

stu2500 said:

Shanwick said:

You would have to use an indirect approach involving cash/currency transfers.

A money transfer into my bank account then pay the card off? 

Basically yes.  So you get a standard UK-based money-transfer card, put the cash into your bank account, then use that to pay off the Amex card.  Paying a fee for the initial money-transfer, any FX fees that are imposed, and potentially taking a hit on the exchange rate.  Can your friend not just pay off their card themselves before returning to the UK?  That would probably be cheaper all round.

I'm worried by the fact that your opening post refers to "your friend" was travelling, but here you're talking about a MT into "your" account.  You're not contemplating paying off your friend's debt for them, are you? How to end a friendship in one easy lesson.

No, don't worry about that, it's just the way I am typing, I certainly won't be paying anything for them, I'm purely after advice on the best way to do this. It sounds like the money transfer is the best way, but will inccur several costs/fees. They don't have the money to pay off their card balance fully at the moment. 

Fair enough - and thanks for clarifying.  Yes, unfortunately I think MT will be the only option - and yes, you'll be hit with fees.  All this assumes, of course, that your friend will actually be accepted for a MT card on his return to the UK - lending criteria have got a lot tighter in general since Covid hit ...

Marcio45

Like others have said, a money transfer credit card will be the only possibility. A normal balance transfer when you transfer debt from one credit card to another only works within the UK.
Regarding your friend's possibility of getting a credit card in the UK it will depend of how much credit history he has in the UK. You say he was travelling in Australia, we dont know for how long. If he has little or no credit history in the UK then almost certainly he wont be approved for a money transfer credit card.

longjohnjohnson

stu2500 said:

Ebe_Scrooge said:

stu2500 said:

Shanwick said:

You would have to use an indirect approach involving cash/currency transfers.

A money transfer into my bank account then pay the card off? 

Basically yes.  So you get a standard UK-based money-transfer card, put the cash into your bank account, then use that to pay off the Amex card.  Paying a fee for the initial money-transfer, any FX fees that are imposed, and potentially taking a hit on the exchange rate.  Can your friend not just pay off their card themselves before returning to the UK?  That would probably be cheaper all round.

I'm worried by the fact that your opening post refers to "your friend" was travelling, but here you're talking about a MT into "your" account.  You're not contemplating paying off your friend's debt for them, are you? How to end a friendship in one easy lesson.

No, don't worry about that, it's just the way I am typing, I certainly won't be paying anything for them, I'm purely after advice on the best way to do this. It sounds like the money transfer is the best way, but will inccur several costs/fees. They don't have the money to pay off their card balance fully at the moment. 

If you're transferring money to their account you're absolutely paying this off for them.

You're naive if you think otherwise.

stu2500

longjohnjohnson said:

stu2500 said:

Ebe_Scrooge said:

stu2500 said:

Shanwick said:

You would have to use an indirect approach involving cash/currency transfers.

A money transfer into my bank account then pay the card off? 

Basically yes.  So you get a standard UK-based money-transfer card, put the cash into your bank account, then use that to pay off the Amex card.  Paying a fee for the initial money-transfer, any FX fees that are imposed, and potentially taking a hit on the exchange rate.  Can your friend not just pay off their card themselves before returning to the UK?  That would probably be cheaper all round.

I'm worried by the fact that your opening post refers to "your friend" was travelling, but here you're talking about a MT into "your" account.  You're not contemplating paying off your friend's debt for them, are you? How to end a friendship in one easy lesson.

No, don't worry about that, it's just the way I am typing, I certainly won't be paying anything for them, I'm purely after advice on the best way to do this. It sounds like the money transfer is the best way, but will inccur several costs/fees. They don't have the money to pay off their card balance fully at the moment. 

If you're transferring money to their account you're absolutely paying this off for them.

You're naive if you think otherwise.

As I stated, I didn't pay it off for them, what part of that sentence don't you understand. 

Thanks for all the advice from everyone, my friend was accepted for a very good rate on a money transfer card and has subsequently paid off their Australian card and saved a lot on interest charges.