How to do a balance transfer

Transferring balances from other cards to Lloyds Bank could help make things easier to manage, as you’ll only have one payment to think about every month.

What is a balance transfer and how does it work?

Read our in-depth guide to find out all you need to know about balance transfers.

Balance transfer guide


4 steps to making a balance transfer

1. Log on

Log on to your Internet Banking account online or using the app, so you can see what options are available to you.

2. Fill in a simple form

Follow the instructions to make your transfers.

You’ll also need to complete a quick automated security check to confirm it’s you, so have your phone to hand. We’ll use the number registered with us to do this.

3. Enter transfer amount

The minimum amount for balance transfers is £100. You can only transfer up to 93% of your credit limit, including your existing balance, to allow for fees and transactions that haven’t hit your account yet.

4. Approval

Once approved, transfers usually show on your account the next working day after we approve them. They can’t be cancelled and fees can’t be returned.

Ready to transfer a balance?

Transfer a balance

What do I need before I make a balance transfer?

  • Make sure you have the card details you want to transfer to hand, as you’ll need to tell us the long number from the front.
  • Check the cards you want to transfer have the Mastercard®, American Express® or Visa® logos, on them, or they might be rejected. You can’t balance transfer from other Lloyds Bank credit cards.
  • Read everything thoroughly before you submit your request.
  • Once your promotional period rate ends, any remaining balance will revert to the standard rate for balance transfers.

Not got a Lloyds Bank balance transfer credit card?

Find out which cards you’re likely to be accepted for in about 5 minutes with One Check.

Other important information

  • Balance transfers are generally either 0% p.a. interest for a set time period or a longer-term fixed low interest rate. You might be offered one or both types of transfer on your account.

  • You’ll usually be charged a fee for each individual balance transfer made. This will be a percentage of the amount transferred and will be added to the balance. For example, a transfer of £1,000 with a 3% fee would result in a £30 transfer fee.

  • You need to make at least the minimum payment every month and stay within your credit limit to keep your promotional rate and not incur extra fees or charges. If you’ve got a Direct Debit set up, check the amount due after your transfer’s approved, especially if you normally clear your balance in full.

  • If you need to increase your credit limit to transfer any balances, the simplest way is online. Alternatively, you can call 0345 606 2171 (7am-11pm Mon-Sun).

    More about credit limit increases

  • As soon as transactions show on your monthly statements, those with a higher interest rate will be paid before any lower rate balances, including any promotional rates that might be finishing soon.

    Balances with the same interest rate will be paid off in the following order: 

    • Cash transactions (ATM or over the counter withdrawals)
    • Card purchases
    • Balance and money transfers
    • Default fees, including interest and other charges added

    For each type of balance, the oldest transactions and any related fees, charges and insurance, will be paid first.

Before you go ahead, ask yourself:

  • Does this option suit my borrowing needs, or should I consider other alternatives?
  • Will I be able to make repayments, even if my circumstances change?


Still not sure? Read our balance transfer guide

If you'd like to talk to us about other borrowing options, call 0345 606 2172, 7am-11pm, every day.

All set to do a balance transfer?

Log on to see your options in Internet Banking or using the Lloyds Mobile Banking app.

View my options

Where next?

Managing your card

Related guides

Looking for a card

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.