How to do a money transfer

Moving money from your Lloyds Bank credit card to your current account could be useful for dealing with unplanned expenses or for when you can’t use plastic.

What is a money transfer and how does it work?

What is a money transfer and how does it work?

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

Money transfer guide

4 steps to making a money transfer

1. Log on

1. Log on

Log on to Internet Banking online or with the app, and check what money transfer options are available on your account.

2. Fill in a simple form

2. Fill in a simple form

Once there, simply follow the onscreen instructions.

You might have to do a quick automated security check depending on who you bank with. This should only take a few minutes.

3. Enter transfer amount

3. Enter transfer amount

The minimum amount for money 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

4. Approval

Once approved, money 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 make a money transfer?

Ready to make a money transfer?

Make a money transfer

What do I need before I make a money transfer?

  • Make sure you have the bank account details you want to transfer to with you, as you’ll need to tell us the account number and sort code. 
  • It must be a UK current account in your name, registered to the same address as your Lloyds Bank credit card.
  • Read everything thoroughly before you submit your request. 
  • Once your promotional period rate ends, any remaining balance will revert to the standard rate for money transfers.


Not got a Lloyds Bank credit card?

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

Other important information

  • Money 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 money 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 and stay within your credit limit every month 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 do a money transfer, the simplest way is online. Alternatively, you can call 0345 606 2171 Lines are open 8am – 8pm, seven days a week.
    Not all Telephone Banking services are available 24 hours a day, seven days a week.

    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: 

    1. Cash transactions (ATM or over the counter withdrawals)
    2. Card purchases
    3. Balance and money transfers
    4. 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.

  • Because money is transferred to your current account and you use your debit card or cash to make a purchase, it won’t be eligible for Section 75 of the Consumer Credit Act 1974 protection.

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 money transfer guide

If you'd like to talk to us about other borrowing options, call 0345 606 2172, 8am – 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.

All set to do a money transfer?

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

View my options

Where next?

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.