Sainsbury's bank credit card-does balance transfer fee appear soon after balance transfer?

OceanSound

Has anyone done a balance transfer with Sainsbury's bank credit card and seen the fee appear a few days later on the app or after logging on to the website (in recent transactions)? or have you had to wait until the statement is issued to see it (the balance transfer fee) appear on the account?

By the way, yes, I know I can just call Sainsbury's bank support and ask what the balance transfer fee is and when my current promotion ends etc. but was just wondering if the fee did appear elsewhere other than the statement.

[Deleted User]

You normally get told the fee when you do the transfer. It seems to vary by provider how they list it though - my M&S one has 2 entries, BT and fee, my Barclays one just has the total of the balance + fee as 1 entry. Natwest lists them separately 

OceanSound

Deleted_User said:

You normally get told the fee when you do the transfer. It seems to vary by provider how they list it though - my M&S one has 2 entries, BT and fee, my Barclays one just has the total of the balance + fee as 1 entry. Natwest lists them separately 

I did a £100 balance transfer from Sainsburys Bank credit card to Santander everyday credit card yesterday, just as a test. There was no mention of a fee when I did the transfer.

Today, the app has the balance transfer in 'pending transactions' but there is no sign of a fee. That's how come I was wondering if it could be added later when the statement is issued or if there is no fee (because I'm within the promo period)

[Deleted User]

OceanSound said:

Deleted_User said:

You normally get told the fee when you do the transfer. It seems to vary by provider how they list it though - my M&S one has 2 entries, BT and fee, my Barclays one just has the total of the balance + fee as 1 entry. Natwest lists them separately 

I did a £100 balance transfer from Sainsburys Bank credit card to Santander everyday credit card yesterday, just as a test. There was no mention of a fee when I did the transfer.

Today, the app has the balance transfer in 'pending transactions' but there is no sign of a fee. That's how come I was wondering if it could be added later when the statement is issued or if there is no fee (because I'm within the promo period)

You would need to check what offer you have on the card, if it's 0% fee for a few months then you wouldn't expect to be charged a fee

OceanSound

Deleted_User said:

OceanSound said:

Deleted_User said:

You normally get told the fee when you do the transfer. It seems to vary by provider how they list it though - my M&S one has 2 entries, BT and fee, my Barclays one just has the total of the balance + fee as 1 entry. Natwest lists them separately 

I did a £100 balance transfer from Sainsburys Bank credit card to Santander everyday credit card yesterday, just as a test. There was no mention of a fee when I did the transfer.

Today, the app has the balance transfer in 'pending transactions' but there is no sign of a fee. That's how come I was wondering if it could be added later when the statement is issued or if there is no fee (because I'm within the promo period)

You would need to check what offer you have on the card, if it's 0% fee for a few months then you wouldn't expect to be charged a fee

Dosen't seem that straightforward when it comes to the Sainsburys bank credit card. I have a 0% interest on balance transfers offer until 15 August 2022. Did a balance transfer at the time of applying for the card on 14 February 2021. There is around £8,500 available credit now and I need to do a balance transfer for a fraction of that. Just prior to going ahead happen to see the following thread:

https://forums.moneysavingexpert.com/discussion/6290890/sainsburys-bank-balance-transfer-fee

Particularly this part grabbed my attention: 

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." 

OceanSound

Checked the app today. Fee of £3.00 appears separately from the £100 balance transfer:


bit of background. soon after seeing (on Saturday 12 March) the post mentioned in my previous post, I checked the credit agreement and it said:

5. Charges

5.1 We may charge a fee on the amount of a balance transfer or money transfer. This will vary dependent on your current offer. You can find out what this is by calling us. 

So I messaged Support via the website messaging feature. Staff got back to me via messaging reply on Monday 14 March and said "I’ve checked your account and you have an additional offer of 24 Month BT Offer at 0% with a BT Fee of 3%. This offer is only available for Balance Transfers transferred between now and 21.03/2022."

So, that's when I did the £100 to 'test' and 'confirm'. What the staff member said checks out. 

A bit devious to say '0% on balance transfers for 18 months' then stick a 'you can find out what this [current offer] is by calling us' trope in the agreement. 

Watch out pps.