Can you do a balance transfer to debit card and which 0% balance transfer credit cards allow you to make a balance transfer to debit card?
Currently, you can not make a direct balance transfer to debit card. However, what you can do is make a 0% money transfer from your credit card direct to the bank account that the debit card is linked to.
This balance transfer to your bank account transfers the money from the credit card company into your bank account, so making the money available to spend with your debit card.
Once the 0% money transfer is in your bank account, you can then use this money to make a purchase with your debit card. This could be, for example, where perhaps the merchant does not accept a credit card payment, but does accept a debit card payment.
Alternatively you can use this 0% money transfer to pay off any outstanding loans or overdrafts you have. This balance transfer to debit card, using a money transfer to your bank account, effectively allows the customer to pay off any existing debts that have a higher interest rate.
The balance transfer to debit card, using a 0% money transfer to your bank account, will allow the customer to pay 0% interest for the length of the introductory money transfer offer available on the credit card.
Balance Transfer To Debit Card – Via Bank Account
There are around 120 UK 0% balance transfer credit cards currently available, but only a very small number of these cards will allow you to do a balance transfer to debit card using a 0% money transfer to your bank account.
The following featured UK credit cards do allow you to make a balance transfer to debit card, with a 0% money transfer to your bank account.
- 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: None
- You have an annual 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 don't 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
- 0% interest for up to 41 months on balance transfers (20.9% APR thereafter)
- 3.45% balance transfer fee for the first 60 days and 5% fee thereafter
- No purchases offer with this card
- 0% interest for up to 20 months on money transfers (22.9% APR thereafter)
- 4% money transfer fee for the first 60 days and 5% fee thereafter
- You cannot transfer a balance from another MBNA card
- Annual Fee: None
- Eligibility for this credit card depends on your circumstances and the results of MBNA's eligibility check
- The product, APR and promotional offer you could get may differ from the example
- You must be aged 18 or over
- You must hold a UK bank account
- You must have been a permanent UK resident for at least 3 years
- You must have a good credit rating and credit is subject to status
As can be seen above, the handling fee to make a money transfer to your bank account is higher than the balance transfer fee for a standard credit card to credit card balance transfer.
The customer will naturally, still have to repay the money transfer in the normal manner by making at least the minimum monthly repayment to the credit card company.
Credit cards which allow a balance transfer to debit card are also often known as cash transfer credit cards.