Balance Transfer Fees – Misinformed by customer service?

JAB_3

Yes, using this site's article, you'll find several. I've just taken one with Great Ormond St Hospital, issued by bank of Scotland. 9 months 0%, no fee.

YorkshireBoy

alro wrote:

Does anyone know of any cards at the moment that do NOT charge a fee for BTs? Everyone I've looked at so far has a 2% fee.

The stoozing site has a No Fees Table

The MSE no fees table is here

Double check all details with the providers before applying because deals change all the time.

Mint said they'd charge 14.9%.

That's because they thought you wanted a 'Money Transfer' (for which they also apply an 'advance' limit - which is 50% of your credit limit).

You need to use Mint cheques to get 'cash' out of the Mint card at 0%.

skipton

On my Halifax statement it states in the summery of charges section under BT fees:

2% or £2 on special offers only

I have spoken to an advisor who offered me a special offer on lob but said the fee would be 2% and not £2 as stated.
What should I do as I don't want to pay the 2%?
Is this a binding offer?

How do I alert Martin to this as I doubt I am the only person with this printed on their statement?

beaki

I recently applied for a 0% balance transfer credit card with Virgin.

I used a site https://www.balancetransfers247.co.uk as they appeared to have compiled all the info in a easy to follow format.

Their site indicated that there was a 2% fee with a maximum charge of £50.00.

I know this is my fault for not checking but there was no maximum fee and I was charged 2% on the whole balance.

Now I assume this site received some sort of affiliate commission from Virgin for this misleading 'sign-up'. I am unable to contact the site to inform them their information is not correct as there isn't any contact info.

I did contact Virgin. Although they replied by agreeing that the website does state there is a maximum fee of £50 does not reflect their terms and conditions.

So be warned - DON'T TRUST the information on referal sites.

Maybe there is possibly some action I could take against https://www.balancetransfers247.co.uk (if I could contact them!) for providing misleading information???

ryushi

Unfortunately there is not a lot you can do, there is a disclaimer posted at the bottom of that site - basicly it's what you sign that counts, so make sure you read it all first

Disclaimer

This website and the information contained within it, is intended as a comparison tool to obtain information on financial products in the UK. The contents of the website should not be taken as professional advice, or recommendation of any product or service offered by the companies providing such products and services.

The rates and information shown are taken from sources believed to be accurate and whilst we have taken reasonable care to ensure the accuracy of the information, this can not be guaranteed. Freedom Marketing Limited, including its management and staff, disclaims liability for any loss, howsoever caused, arising directly or indirectly from the use and content on this website.

BigSofty

I took out an Amazon Credit Card back in April/May. When I phoned up to register the card I was asked if I wanted to make a balance transfer. I asked about the fee and was told it was 0 during the 9 month promotion period. So I made a £3000 transfer in May. No fee was charged. I then made another transfer of £1500 in July. Still no fee charged. Now in October they tell me thay have made a mistake and are going to charge me 2% for past transfers - as specified in the terms and conditions.

Where do I stand? Do I have any way of avoiding these fees? After all someone did tell me there was no fee and I was not charged any fee for 5 months.

There is a new thread for this. See "Credit Card / Amazon balance transfer letter: Has anyone else received??"

hchalk

Hi,

I started the thread big softy is talking about and have been through all the steps Martin has spoken about at the top of this thread, (although they wouldn't allow me to speak to a manager!!) but they are still insisting that the fee is payable!

PLease can someone help us!!

H xx

blindman

I applied for the Harley Davidson CC (HBOS card provider) in August
0% BT for 9 months and NO FEE.

Got the T&C's on 17th August, read:- very 'wooly' statement re BT Fee (I'll post exact wording if you want) signed and duly received the card on 28th August (holiday in between).

Rang to activate the card and was asked by the CS rep if I wanted to BT.

Said yes, gave the details and then the CS said "There will be a BT FEE"

I queried this (before going any further), he 'went off' to check with his supervisor.

Came back on the line and confirmed that I was right, there was NO BT Fee.

Did the BT.

Got my statement on 1st October.

Charged £72.00 for BT fee :mad:

Have rung HBOS twice-given them the details as above-and the outcome is that they "Can only raise a Complaint" and there's NO Guarantee the fee will be refunded.

They have 28 days to reply to my complaint which could mean I won't hear until the end of October.

Where do I stand if they don't refund me?

Rafter

If the advisor confirmed no fee then you have a verbal contract surely and they must refund you?

R.

blindman

Rafter wrote:

If the advisor confirmed no fee then you have a verbal contract surely and they must refund you?

R.

You'd think so, but it's my word against theirs as there is no record of the conversation.

I'll update the thread with any replies I get.