23 Oct 2015

A question about : New card but unsure if transfer will be done automatically?

I've just opened a pair of new accounts: MBNA for the 0% transfer to current account option, and Tesco for the 0% BT option. Object is to have cash in a high interest account, all at 0% with no fees.

During the MBNA application, it asked if I wanted to do a BT and if so, where to. I selected current account from the options and how much I wanted to transfer. The next screen showed the limit they gave me allowed for this to happen but there was no mention of it actually being done.

So my question is, will this transfer be done by them automatically or was this just a question designed to know what amount you were planning to transfer and you actually need to transfer it manually once you access the online system?

Best answers:

  • Make sure your money is earning 6.9% over the 0% period in the accounts you're putting it in though, otherwise you'll be making a loss (4% fee on your money transfer, 2.9% on your BT).
    Best bet is to get it put in to TSB plus accounts and hope you have at least 16 month is 0% period!
  • @ SuperHan -
    Quote:
Category: 
Stoozing: Free Cash from Credit Cards
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