What is a money transfer?
A money transfer lets you transfer money from your credit card to any of your own UK current accounts.
Watch this short video if you want to know more.
- To make a money transfer you will need to have a UK-based current account in your name and address
- Money transfer applications are subject to eligibility and security checks but these will not leave a footprint on your credit file
- Keeping promotional rates - To keep any promotional rate you must make the minimum payment by the payment due date each month and not go over your credit limit
- After your promotional period ends, you will be charged the standard interest rate, which can be confirmed on your statements
- Low interest offers charge interest daily, we add together all the daily interest amounts in each statement period and add the total to your balance on your statement date
- Section 75 Purchase Protection does not apply - Anything you buy using funds from a money transfer won’t benefit from the protection given by Section 75 of the Consumer Credit Act 1974 – unlike some credit card purchases
- Payment allocation - we use your payments to pay off the balances charged at the highest interest rate first, so your more expensive balances are paid sooner. Your payment will include any interest or charges incurred as a result of those balances
- Other borrowing options - Before you apply for a money transfer it's worth considering other ways to borrow, as well as any savings you may have, as these could be better options for you. Read more about other ways to borrow.
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.