Money Transfer Credit Card

Money Transfer Credit CardHow does a money transfer credit card work and which UK credit card companies provide money transfer credit cards?

These are a couple of the most common questions that we see here at 0% Credit Card Expert, on the topic of money transfer credit cards.

A money transfer credit card allows a customer to make a money transfer from their credit card to their bank account.

A money transfer is similar to a balance transfer, but where a balance transfer will pay off the outstanding balance on another credit card, with a money transfer credit card the funds are transferred directly into your bank account.

Money Transfer Credit Card

Customers are often looking for money transfer credit card offers, because credit cards that offer 0% money transfers allow a customer to transfer money to their bank account and pay no interest for the duration of the 0% money transfer offer period.

With a money transfer credit card to bank account transaction this can allow a customer to use the funds transferred into their bank account to pay off an overdraft or a loan, for example.

Using a 0% money transfer can also allow a customer to use the funds to pay the deposit on a new car, as often car dealers are reluctant to allow a customer to a make a large payment on a credit card.

There are currently interest fee money transfer credit card offers available with 0% for up to 40 months, offering customers the opportunity to make large savings on interest.

Money Transfer Credit Cards

Not all credit cards have money transfer credit card offers because only some credit card companies offer 0% money transfers.The following featured cards do all currently offer 0% money transfers:-

0% Credit Card Offers

Balance Transfers:
0% interest for 40 months
Balance Transfer Fee:
2.69%
Money Transfers:
0% interest for 40 months
Money Transfer Fee:
3.94%
Purchases:
0% interest for 3 months
Representative APR:
18.9% APR (variable)
More Information

Credit Card Details

Tesco Clubcard Credit Card for Balance Transfers*
  • 0% interest for up to 40 months on balance transfers from account opening
  • 2.69% balance transfer fee
  • 0% interest for up to 40 months on money transfers from account opening
  • 3.94% money transfer fee
  • 0% interest for 3 months on purchases from account opening
  • Earn Clubcard points wherever you use your card, plus your usual points in Tesco. Terms apply
  • The 0% offer is applied to any balances or money transferred within the first 90 days of opening your account
  • Apply online and get a decision within 60 seconds
  • Annual Fee: £0
More Information

Application Criteria

Tesco Clubcard Credit Card for Balance Transfers*
  • You have an annnual income of at least £5,000
  • You are at least 18 years of age
  • You have a good credit history
  • You live in the UK, or have a British Forces Post Office address
  • You do not currently hold more than 1 Tesco Bank Credit Card
  • You have not applied for a Tesco Bank Credit Card in the last month or have an application currently in progress
More Information
Representative Example: 18.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)
The APR, length of promotional offer, and credit limit may vary as they are dependent on your personal circumstances

0% Credit Card Offers

Balance Transfers:
0% for 39 months
Balance Transfer Fee:
2.4%
Money Transfers:
0% for 39 months
Money Transfer Fee:
3.8%
Purchases:
0% for 3 months
Representative APR:
20.9% APR (variable)
More Information

Credit Card Details

Virgin Money 39 Month Balance Transfer Credit Card*
  • 0% on balance transfers for 39 months from date account opened (20.9% APR thereafter)
  • 2.4% balance transfer fee in first 60 days, 5% fee applies after 60 days
  • 0% on purchases for 3 months from the date your account is opened
  • 0% on money transfers for 39 months from date account opened (20.9% APR thereafter)
  • 3.80% money transfer fee in first 60 days , 5% fee applies after 60 days
  • Contactless payments to quickly and securely pay for purchases up to £30
  • Annual fee for card: None
More Information

Application Criteria

Virgin Money 39 Month Balance Transfer Credit Card*
  • You are a UK resident
  • You have a bank or building society account
  • You have a good credit history
  • You are aged 18 or over
More Information
Representative Example: 20.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.9% p.a. (variable)

0% Credit Card Offers

Balance Transfers:
0% interest for 24 months
Balance Transfer Fee:
0%
Money Transfers:
0% interest for 12 months
Money Transfer Fee:
3.94%
Purchases:
No offer
Representative APR:
18.9% APR (variable)
More Information

Credit Card Details

Tesco Clubcard Credit Card with No Balance Transfer Fee*
  • 0% interest for up to 24 months on balance transfers made within the first 90 days of opening your account
  • 0% balance transfer fee
  • 0% interest for 12 months on money transfers from account opening
  • 3.94% money transfer fee
  • No introductory offer on purchases
  • Earn Clubcard points wherever you use your card, plus your usual points in Tesco. Terms apply
  • Apply online and get a decision within 60 seconds
  • Online account management
  • Annual Fee: £0
More Information

Application Criteria

Tesco Clubcard Credit Card with No Balance Transfer Fee*
  • You have an annnual income of at least £5,000
  • You are at least 18 years of age
  • You have a good credit history
  • You live in the UK, or have a British Forces Post Office address
  • You do not currently hold more than 1 Tesco Bank Credit Card
  • You have not applied for a Tesco Bank Credit Card in the last month or have an application currently in progress
More Information
No balance transfer fee
Representative Example: 18.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 18.9% p.a. (variable)

As with any balance transfer, a customer who make a money transfer via a credit card will have to make monthly payments to repay the outstanding balance. For each money transfer using a credit card the credit card company will charge a fee, which is usually between 3.5% and 4% of the amount transferred.

The Virgin Money money transfer credit card, is issued a MasterCard credit card allowing this card like both of the Tesco credit cards above, to be used a credit card to make purchases in millions of shops, restaurants and hotels worldwide.

A customer can make both a balance transfer and a money transfer on the same credit card provided you do not exceed your overall credit card limit with the total amount transferred.


Related Content From 0% Credit Card Expert:-

Today on 0% Credit Card Expert there are:-

107 UK 0% credit cards currently avaliable offering:-

  • 0% interest on balance transfers for up to 40 months
  • 0% interest on purchases for up to 30 months