Balance Transfer

missile

Hi,
How long should balance transfer take.
I did a balance transfer from my Chase to my RBS Credit card on 07th January 2026.
It shows as a pending transaction on my RBS account.
Thanks :-)

flaneurs_lobster

The couple I've done (albeit not to RBS) have been 3 working days, so the standard processing time for a card transaction.

missile

OK, This being Saturday, I guess 3 working days will be Tuesday 13th for me................. lucky for some(?)

This is first I have done, Many thanks

Newbie_John

My one took longer, about 7 working days.
I think it says during your application - on my one it said up to 10 working days.

Nasqueron

Varies by provider, my Barclays ones are usually done inside 2 working days - request through to payment of the other card

missile

I contacted RBS who confirmed payments from them is next working day.
It shows as a debit transaction on my RBS account on 7th Jan.

I contacted Chase "We do not accept balance transfers and payment will be returned to RBS"
I am still waiting

It would have been nice had I known this before. Lesson learned  :'(
It has been rather frustrating. I was very concerned that payment got lost / had gone to someone else.

I have raised dispute with RBS to recover the money to my credit card

flaneurs_lobster

If Chase won't allow a balance transfer (why? isn't it just a payment equivalent to the card balance?) then does the RBS card have money transfer available? Take the money transfer to your current account and pay off the Chase card with cash?

missile

Chase refused to give a reason.
The reason for a balance transfer is move the debt from an interest charging credit card account to one which has an interest free offer.
One cannot simply withdraw the money from a credit card, that incurs fees.

flaneurs_lobster

missile said:

Chase refused to give a reason.
The reason for a balance transfer is move the debt from an interest charging credit card account to one which has an interest free offer.
One cannot simply withdraw the money from a credit card, that incurs fees.

I'm aware of what a balance transfer card is used for.

I'm suggesting the use of a money transfer card which does exactly what it says, moves cash from the card to a cash account for an interest free period (and maybe fee-free). I'd asked upthread if your RBS card has this facility.

My Virgin Money CC allows its credit balance to be used for balance transfer or money transfer or a mix of both.

missile

I did not know that and it might be worth investigating for some(?) but it is not "fee-free"

There is a sting in the tail There would be a 4% transfer fee. 

• 12 months at 0% on money transfers (4% fee)

Balance transfer Credit Card offers | Virgin Money UK

flaneurs_lobster

missile said:

I did not know that and it might be worth investigating for some(?) but it is not "fee-free"

There is a sting in the tail There would be a 4% transfer fee. 

• 12 months at 0% on money transfers (4% fee)

Balance transfer Credit Card offers | Virgin Money UK

4%. Ouch. Card was fee-free transfers when I took it out in October, they want 5% now since the fee-free period has ended.