A money transfer credit card lets you borrow money from the card, and transfer it straight into your bank account. Typically, you'll be charged a money transfer fee, which varies by provider.

With a 0% money transfer credit card you'll be able to move cash into your bank account from the card and pay it off without paying interest for a set period. This could be up to two years or more.

Don't forget that, as with any credit card, you'll need your application to be approved, and you'll need a good credit score to be eligible for the longest interest free periods.

Money transfer credit cards can be useful. Getting a 0 money transfer credit card could mean that you could:

  • pay off an overdraft, interest free

  • pay off a loan, interest free

  • make a large purchase where a credit card wouldn't be accepted.

So, for example, if you got a money transfer card with a limit of £2,500, you could use £1,000 to pay of an overdraft, £1,000 to pay off a loan, and make a purchase with the remaining £500.

You can read more about how to use your 0 money transfer credit card here.

Credit cards don't always let you transfer money to your bank account. Generally, only special money transfer cards allow you to do this. Many credit cards also charge interest while you pay them off, as well as high fees.

Every card we're sharing on this page is a 0% money transfer credit card. That means they all offer money transfers with an interest-free period, so you can pay off the balance without interest being added to what you owe.

Read this guide to money transfer credit cards to help you choose the best money transfer credit card for your needs.

With a bank transfer credit card, you don't pay any interest as long as you repay the balance during the 0% period. You must always make at least the minimum payments each month to keep your 0% rate. You should treat it like you'd treat a loan.

But, remember that you'll have to pay to do a money transfer. That usually costs 2%-4% of the amount you transfer.

For example, a 3% fee on a £2,000 transfer will cost you £60. That means you'll owe £2,060. If the card's interest-free period is long enough for you to pay off the balance in full, the £60 fee could be a lot less than the interest you'd pay on a loan.

A money transfer credit card comes with the same other types of fees as normal credit cards. You can avoid some charges if you understand how they work. Some of the things you might have to pay include:

  • late payment charges

  • charges for going over your credit limit

  • charges for spending abroad

  • dormancy charges

  • and other charges and fees.

The best money transfer cards are the ones that cost the least overall and have the longest 0% periods.

Before you get a money transfer credit card, it's important to decide whether it's the best product for you. You shouldn't use a money transfer credit card unless it's planned, affordable borrowing, for a specific reason.

When you compare money transfer credit cards, consider the following:

  • 0% interest period: The interest-free period for money transfer cards isn't always as long as you'd like it to be. Interest-free periods on balance transfer credit cards or purchase credit cards tend to be longer. Be aware of when your interest-free period ends, so you can either pay off the balance, or transfer your debt elsewhere. If you don't, you'll end up paying the standard variable rate on your money transfer card, which is much higher.

  • The money transfer fee: Most money transfer credit cards charge a fee to transfer money into your account. Typically, this fee ranges from 2% to 4% of the balance transferred. It's important to factor this in when comparing money transfer credit cards. The lower the fee, the better.

  • Time window for transfers: Many money transfer cards require you to make your transfer within 60 days of getting your card. If you fail to do so, you'll lose out on the 0% period. So don't open a money transfer card with a plan to transfer money several months later, as that's unlikely to work out.

  • Fees: Most cards charge fees for late payment, exceeding the credit limit

Before you go ahead and apply for a money transfer credit card, it's a good idea to recap on the pros and cons. That way, you'll be clear on whether it's the right decision for you. It all depends on your personal situation and financial circumstances.


  • You can often borrow interest free for a set number of months.

  • It's an alternative – and potentially cheaper – option to a loan.

  • You can use it to pay off debts and loans.


  • If you find a 0% money transfer credit card, the interest-free period might not be as long as it would be with a different type of credit card.

  • You could lose your 0% rate if you miss any payments.

  • You'll pay a fee to do a money transfer and you only get a limited time in which to do it.

  • The charges for using your card in other ways could be high.

  • You might not get a high credit limit.

  • You could be declined if you have poor credit history.

If you decide to go ahead and get a money transfer credit card, there are a few things you should do.

  • Shop around. Our comparison gives you the chance to compare money transfer credit cards and find the best one for you.

  • Make a plan. It's important that you know how you'll repay the money before you go ahead. Only apply if you're sure you can manage the debt.

  • Meet your monthly repayments. If you don't, you could lose your 0% deal face a fee and it could affect your credit rating and ability to get credit in future. You should set up a direct debit to make sure you'll make at least the minimum repayment, on time, every month. If you can pay more, it could be a good idea to do this, so you pay off your debt quicker.

  • Do something before your 0% period ends. Either repay the balance in full, or transfer your balance elsewhere. If you don't, the APR will jump to a much higher rate.

  • Do your money transfer quickly. Most cards only allow money transfers when you first take them out, so don't delay.

  • Check the rates for other features. Of course it's important to know what fee you'll pay for money transfers, but have you checked the APR for new purchases? And for withdrawing cash? Check carefully before you use the card in other ways.

  • If you're rejected, don't keep trying. Applying for lots of credit cards in a short space of time can damage your credit rating.