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What is a transfer of money between accounts?

A transfer of money from a credit card to a bank or building society account. The transfer is part of the credit card balance and is subject to reimbursement as part of the monthly statement. This service is available credit cards and tends to be quite simple to arrange. the money arrives in your account, you can use itto pay for goods or services, or to pay for a higher interest loan or unexpected bills (such as a broken boiler). You will normally be charged a fee (usually a percentage of the value of the transfer) for each money transfer. The use of a transfer means that it means that you will not have the protection of section 75 of the Consumer Credit Act 1974 for credit card payments. non obstante, incluso with a administration fee, a money transfer can be more economical than paying for goods and services by credit card. Money transactions: a brief overview Before getting more details, we recommend that you watch this short video on money transfers. It explains the virtues simple and different ways of requesting a transfer.
What are the virtues of transactions?
Depending on your credit card creditor, it is unlikely that you will be charged overdraft or prepayment fees, which means that you can save money and pay off your debt more quickly. Overpayment is mainly useful if you take advantage of a money transfer with a promotional interest rate, since you can pay off the balance before the promotional rate expires (after which the standard interest rate would apply, with a higher higher and more time to pay off). How to carry out a money transfer You can request a money transfer as part of your credit card application and then later by means of MBNA's mobile app and online services (where you will all the promotions available) or you can contact us.

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