MBNA 50 pounds BT fee from 1/11

jellyfish_2

I'm not sure if this has been mentioned, but MBNA will introduce a maximum balance transfer fee of 50 pounds from tomorrow onwards (Monday 1st November.), instead of 35 pounds max.  The fee is charged for each and every transfer made.

So get those BT's in fast if you have not already done so!

Hope this helps  :o

Source: Financial Mail 31/10

Shinds

Woby_Tide

Do they definitely charge though, my documents I got a couple of weeks ago for the Platinum card contained 'wooly' terms that 'some' BT's may encounter a fee, when I rang them they said the initial transfer on a new account didn't. All very confusing though.

Tr@cker

Woby: Ive just rang them up. There's a balance transfer slip on the back of the envelope-it was worth ringing because they wanted 33 quid for my balance transfer-they ain't getting it and ive torn up the agreement. It might be different for individuals but they wont do a BT until you've signed on the dotted.

Woby_Tide

they told me the slip on the envelope was exempt aswell, I've got the card but we'll see, I got the phone call recorded so by my reckoning it will be free as stated or they'll be cancelling the contract

jellyhead

i applied for the virgin (run by MBNA) card last week, requesting a transfer. does this mean that if they decide i can have a card and the transfer goes ahead they will be able to charge me??

i also recently got a texaco card last month, and when they sent me the card they also sent a leaflet saying the terms had changed while my application was being processed, and the cashback was not 0.8% as advertised but would be 0.5%. i hadn't asked for cashback, i prefer a lower interest rate as i'm using the texaco card for a LOB transfer at 3.9% and won't be spending on it, i thought they would charge me full interest on the 2% balance transfer fee but there was no fee. anyway i'm digressing. it seems to happen to me often - a card gets mentioned in a best buy and people sign up for it, then the card issuer changes the terms and conditions in their favour while the card applications are being processed!!

Backbiter

MBNA rang me at home last night to offer a BT (1.9% over 6 mnths) which I accepted. I was quoted £35 for the fee, not £50. It went through OK (I hope).

Woby_Tide

The one I requested via the envleope/agreement is now showing on my account,no sign of any fee, dated yesterday so heres hoping.

Reaper

I read the Virgin T&C carefully. They said there may be a charge, as with all MBNA's cards. However they also said they would warn you before you did the balance transfer if a charge applied. Since that form with the envelope makes no mention of a charge the inital balance transfer is fee free.