Transfering to SBT with lower limit ?
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paultw5
Posts: 146 Forumite
Just been accepted for 10 K from lloyds plat and wish to transfer it to my Egg blue (sbt).
Question: Egg blue limit is 5K, so if i transfer 10K onto it will it be accepted or will they kick up a fuss.
Could i transfer 5K this week, move it in 5 days time, then transfer another 5K. would that work OK??
Any one had similar, or any advice appreciated.
Cheers Paul
Question: Egg blue limit is 5K, so if i transfer 10K onto it will it be accepted or will they kick up a fuss.
Could i transfer 5K this week, move it in 5 days time, then transfer another 5K. would that work OK??
Any one had similar, or any advice appreciated.
Cheers Paul
0
Comments
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Egg Blue is now "Egg Money", and encourages positive balances as it pays 4% AER on them. Transfer the entire £10K in one go. Don't forget the "1st 6 weeks" criteria on the LloydsTSB platinum.0
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thanks Yorkshire, thought it would be OK but wanted to double check. 6 weeks is noted.
Cheers again
Paul...0 -
I have the same issue as paultw5 except 10k on capital one I wish to transfer to virgin with 6k balance limit. Will I have to transfer in two stages as described above or will this also work in one go.0
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At the risk of over-analysing (and over-complicating) this scenario, the BT fees are going to be fairly substantial whichever way you do this aren't they?barrowboy wrote:I have the same issue as paultw5 except 10k on capital one I wish to transfer to virgin with 6k balance limit. Will I have to transfer in two stages as described above or will this also work in one go.
Single stage
Assuming you've a new Cap One card, a £10K BT from Virgin will cost you £200. The BT from your current account to Virgin will cost a further £50, making £250 in total.
Two stage
The BT from Virgin to Cap One will still be £200 (£100 + £100) but you will incur 2 x £50 BT fees from your current account to Virgin, making £300 in total - but no awkward questions from Virgin.
I'm not sure how Virgin treat positive balances, but others may be able to help here. Have you looked at your Virgin T&C's to see if they have a policy on positive balances?
Personally, I've always tried to use a providers online systems to avoid awkward questions when carrying out transactions such as these.0
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