Money transfer credit cards let you move cash directly into your bank account. You can then repay the balance interest free, sometimes over a period of three years or more.

This means you could get an interest free cash loan from a money transfer credit card, but there is usually a fee to pay.

You can use the money however you like, and they can be useful for:

  • Paying off an overdraft or loan interest free

  • Paying for a purchase you cannot put on your credit card

How to find a money transfer card

Not all credit cards let you transfer money to your bank account, and many will charge interest while you pay it off as well as high fees.

However, all of the cards in our table above offer money transfers with an interest free period for you to pay off the balance.

Use the table to set how much you want to transfer and to choose either:

  • The period you want to repay over

  • How much you can pay back per month

We will then show you the total amount you would have to repay with each deal so you can compare them and pick the best.

You can also read this guide to everything you need to know about money transfer credit cards to help you choose.

How much do they cost?

You will not pay any interest on your card if you repay it during the 0% period and always make at least the minimum payments each month.

However, you have to pay a fee to make a money transfer. This is usually 2% to 4% of the amount you transfer.

For example, a 3% fee on a £2,000 transfer to your bank account would come to £60. If the card had a long enough interest free period to clear the balance in full, this fee could be much cheaper than the interest you would pay on a loan.

The card you choose will also come with the same fees as normal credit cards.

How much can you transfer?

The amount you can transfer depends on the credit limit you are given by the card provider.

You will be able to transfer an amount usually between 90 and 100% of your credit limit.