Comparing balance transfer credit cards online since 2002How long does a balance transfer take? How long does a credit card balance transfer take?
Both of the above are popular question that we often see, on the topic of how long do balance transfers take?
A balance transfer is where a customer makes a request to transfer the outstanding debt on an existing credit card to a new credit card. In many cases, a customer will choose a new interest free balance transfer card which offers a 0% introductory deal on balance transfers.
A long balance transfer card with a 0% offer can give you an opportunity to save money by paying less interest during this introductory offer period.
The length of time that it takes for a balance transfer takes to go through, is now largely dependant on who the two UK credit card companies involved are.
Some credit card companies, do tend to be slightly quicker, than others in their balance transfer processing time.
Many customers now apply to make a balance transfer when they apply for a new 0% balance transfer deal online. As a result, the credit card companies have now adapted their computer systems.
This now allows new credit card accounts to be set-up more quickly than in the past. This also allows the card companies to process balance transfer requests faster online.
How Long Do Balance Transfers Take?
So how long does a balance transfer take on average?
In the past balance transfers could take anything up to 2 to 3 weeks. However faster electronic payments regulations were introduced by law, in early 2012.
As a result, most UK balance transfer requests in 2023, are now completed much faster. Most balance transfers are now usually completed within a couple of days.
Are you looking to make a balance transfer to save money? Here are of the most popular UK featured balance transfer credit cards available for online applications :-
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Card Offers
Card Details
- 0% interest for up to 27 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- 0% interest on purchases for 3 months from account opening
- At end of promotional period, balance transfers and purchases will revert to standard variable rate
- Worldwide offers and discounts with HSBC home&Away
- Manage your card online
- Annual Fee: None
Application Criteria
- You have an annual income or pension before tax of £6,800 or more
- You are a UK resident
- You are aged 18 or over
- You do not hold an HSBC Basic bank account
Card Offers
Card Details
- 0% for 28 months on balance transfers made within 90 days of account opening
- 2.99% balance transfer fee, minimum £5
- 0% on purchases for 3 months from account opening
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
Application Criteria
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
Card Offers
Card Details
- 0% on balance transfers for up to 12 months
- 2.9% balance transfer fee
- 0% on purchases for up to 12 months
- Credit limit up to £8,000
- Online account management
- Annual Fee: None
Application Criteria
- You are a UK resident
- You have a bank or building society account
- You are aged 18 or over
Card Offers
Card Details
- 0% for 15 months on balance transfers made within 90 days of account opening
- 2.99% balance transfer fee, minimum £5
- 0% on purchases for 18 months from account opening
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
Application Criteria
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
Card Offers
Card Details
- 0% on balance transfers for 12 months from the date your account is opened
- 3% 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
- Discounts on Virgin holidays, Virgin trains and Virgin experience days
- Contactless payments to quickly and securely pay for purchases up to £100
- Online card servicing
- Annual Fee: None
Application Criteria
- 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
When you are asking how long does a balance transfer take in the UK, then consider the time of year. You should always allow extra days for the balance transfer to clear, over any bank holiday period.
An American Express balance transfer may also take slightly longer. This is often due to the fact that some card companies have issues with the AMEX number format.
It is also vital that you do not stop making any payments due to the credit card that you are transferring the balance from, until you are sure that the balance has been transferred.
Most credit card companies do now allow you to check the outstanding balance of your credit card online.
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