How to make a money transfer

Moving money from your Halifax credit card to your UK bank account could be handy if you need to make cash-only purchases, or deal with unplanned expenses.

Our complete guide to money transfers

What is a money transfer? Check out our guide, to find out all you need to know about money transfers.

Transfer in four easy steps

1. It’s easy online

Sign in to Online Banking, or the Mobile Banking app, to see available money transfer interest rate options you can choose from and use. Do your sums to make sure the rate you choose suits your needs.

2. Fill in your details

Fill in the transfer details, then submit your request. You may need to complete a quick automated security check, so make sure we’ve got the right contact details for you, and keep your phone handy.

3. Choose how much

The minimum amount for money transfers is £100. You can transfer up to 93% of your credit limit, including your existing balance, just to allow for fees and any other in-flight transactions.

4. Then submit

Your transfer is subject to security checks, so it’s not guaranteed. However, once approved, money transfers should be complete by the next working day. Transfers can’t be cancelled, and fees can’t be returned.

Ready to transfer online?

Simply sign in to get started using Online Banking.

Sign in to transfer

Other ways to transfer

Call 0345 944 4555 (or +44 (0) 1733 573 189 from outside the UK).
Speak to an adviser 7am-11pm, 7 days a week.

Before you transfer

  • We’ll need the details of the bank account you want to transfer to – particularly the account number and sort code.
  • The account you transfer to must be in the UK, registered in your name and have the same registered address as your Halifax credit card account.
  • Once any promotional interest rates end, your standard interest rate will apply to any remaining balance. Read through all of the small print carefully before you submit your transfer request.

Not a Halifax customer?

If you’re looking for a new Halifax credit card and you plan to request a money transfer, use our eligibility checker to find credit cards you’re likely to be accepted for, with no impact to your credit score.

It’s useful to know that not all credit providers offer this service, and might not be immediately available to new customers.

Think through your options

  • 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?


Other borrowing options

Other important information
 

  • A fee could apply to each individual money transfer you request. This is usually a percentage of the transfer value and will be added to the total transfer amount. For example, a transfer of £1,000 with a 3% fee would total £1,030.

    More on credit card fees and charges

  • Money transfers may be offered at 0% interest, or a low interest rate, for a set period of time. Either could be good options, depending on how long you plan to borrow for.

    Both types of transfer interest rate could be available on your account.

    More on credit card interest rates

     

  • You could apply to increase your credit limit if you’d like to transfer more, or larger amounts, than your current credit limit would allow. Just be aware, requests are subject to status and security checks.

  • You need to make at least the minimum payment every month, and stay within your credit limit, to keep any introductory or promotional interest rates, and to avoid extra fees, charges and damage to your credit score.

    If you’ve got a Direct Debit set up to make payments to your account, check the amount. If you normally pay the full balance, you might want to reduce that once you’ve submitted your money transfer request, unless of course you want to pay everything off when your next statement arrives.

    You might know that different interest rates apply to portions of your balance, based on transaction type and whether the standard or any promotional rates apply. Your latest credit card statement includes a summary of your interest rates.

    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 ending soon.

    Balances with the same interest rate will be paid off in this 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 balance type, the oldest transactions, along with any related fees, charges and insurance, will be repaid first.

  • If you transfer money to your bank account and make purchases using a debit card or cash, these transactions are not protected under Section 75 of the Consumer Credit Act 1974.

    Only purchases over £100 and up to £30,000, made with a credit card, are covered.

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.

A summary on requesting money transfers

You could move money from your Halifax credit card, to your UK bank account.

 

  • A handy option if you need to make cash-only purchases, or manage unplanned expenses.
  • Request a transfer using Online Banking, the Mobile Banking app, or by phone.
  • The minimum balance you can transfer is £100, the maximum depends on your credit limit.
  • So we can process your money transfer, we’ll just need the details of your UK bank account.

Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.